1226 Chelsea ave, Santa Monica, CA 90404
Active
$3,175,000
6%
4 Units
6 Beds
5 Baths
3,038 Area(sq.ft.)
Lot: 5,303 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 3 | 2 | No | n/a | n/a | $ 7,000 |
| Unit 2 | 1 | 1 | 1 | No | n/a | n/a | $ 3,600 |
| Unit 3 | 1 | 1 | 1 | No | n/a | n/a | $ 3,600 |
| Unit 4 | 1 | 1 | 1 | No | n/a | n/a | $ 3,600 |
| 4 | 6 | 5 | $ 0 | $ 0 | $ 17,800 |
| MLS #: | 25499523 |
| Days On Market: | 290 |
| Listing Date: | February 19, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,045 |
| Price per unit: | $ 793,750 |
| Year Built: | 1958 |
Property Details
FULLY VACANT HOUSE + 3 UNITS | A unique opportunity to own a fully vacant 4plex in the heart of Santa Monica. Whether you're an owner-user looking to live in one unit and rent the others, or an investor ready to set market rents from day one, this property offers the kind of flexibility that's nearly impossible to find especially in Santa Monica. Located just off Wilshire Blvd, you're minutes from everything: Douglas Park, Whole Foods, Trader Joe's, UCLA Medical Center, The Water Garden and Colorado Center Park. With an unbeatable Walk Score, this is the type of neighborhood people stay in for years.The front home is a spacious and fully remodeled 3-bedroom, 2-bath house with a den, modern fixtures, a private front deck, and 10-foot privacy shrubs that require virtually no upkeep. Behind it are three remodeled 1-bedroom, 1-bath units, perfect for extended family, guests, or strong rental income. All units will be delivered fully furnished. Additionally, there are three garages in the back that presents strong ADU potential. The property also features a new energy-efficient roof with reflective material, keeping things cool and efficient. With no tenants, this property gives you a rare advantage in Santa Monica full control from day one. Live in the front, lease the back, build out an ADU, or simply hold a strong asset in a coastal market.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 100% |
| Gross Operating Income: | $ 215,922 |
| Total Annual Expense: | $ 9,678 |
| Net Operating Income: | $ 169,097 |
| Gross Annual Income: | $ 222,600 |
| Cap Rate: | 5.33% |
| Gross Rent Multiplier: | 14.26 |
Structure
| Type of Units: | 3+2, 1+1 |
| Buildings: | 2 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Garage - 4+ Car |
Interior
| AC/Cooling: | Other |
| Equipment: | Ceiling Fan, Range/Oven, Refrigerator, Washer, Dryer, Dishwasher |
| Heating: | Wall |
Exterior
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