1256 Chelsea ave, Santa Monica, CA 90404
Active
$2,025,000
8%
4 Units
4 Beds
4 Baths
1,924 Area(sq.ft.)
Lot: 5,330 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 1,900 | $ 1,900 | $ 1,900 |
| Unit 2 | 1 | 1 | 1 | No | $ 3,500 | $ 3,500 | $ 3,500 |
| Unit 3 | 1 | 1 | 1 | No | $ 700 | $ 700 | $ 700 |
| Unit 4 | 1 | 1 | 1 | No | $ 3,500 | $ 3,500 | $ 3,500 |
| 4 | 4 | 4 | $ 9,600 | $ 9,600 | $ 9,600 |
| MLS #: | 25546069 |
| Days On Market: | 189 |
| Listing Date: | May 30, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,052 |
| Price per unit: | $ 506,250 |
| Year Built: | 1937 |
Property Details
Charming Santa Monica four-plex with upgraded Interiors & strong Income. Rare opportunity to own a beautifully maintained California bungalow-style four-plex in a prime Santa Monica location just off Wilshire Blvd. All units feature private entrances, charming outdoor spaces, and updated interiors. Each unit offers character and privacy, with select upgrades including in-unit laundry, mounted smart TVs, updated appliances, and split AC systems. The property features turf landscaping, bamboo fencing, keypad entry, updated electrical, newer water heaters, and a new roof installed in 2023. Garage Parking: Detached 4-car garage. 1 garage space available for owner use; 3 garage spaces currently leased to Unit D, which is drywalled and finished off as a creative work/parking space. Permit street parking available. Current Rents:* Unit A: $1,900/month * Unit B: $3,500/month * Unit C: $700/month will be delivered vacant at close of escrow* Unit D: $3,500/month. Some units eligible for Santa Monica MAR rent increase. Unbeatable Santa Monica location just blocks from Erewhon, Whole Foods, top hospitals, parks, and major bus lines. Enjoy easy access to Montana Ave, the beach, and all the best dining, shopping, and amenities the Westside has to offer making this a highly desirable rental property or owner-user opportunity in a consistently strong market. Do not disturb tenants. Shown by appointment only with 48 hr notice.Interested in this Listing?
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Income Details
| Rent Control: | Yes, 100% |
| Gross Operating Income: | $ 115,200 |
| Total Annual Expense: | $ 40,340 |
| Net Operating Income: | $ 74,860 |
| Gross Annual Income: | $ 115,200 |
| Cap Rate: | 3.4% |
| Gross Rent Multiplier: | 19.09 |
Structure
| Type of Units: | NA |
| Buildings: | 2 |
| Levels: | One |
| Style: | California Bungalow |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Garage - 3 Car |
Interior
| Cooking Appliances: | Built-In And Free Standing |
| AC/Cooling: | Air Conditioning |
| Equipment: | Built-Ins |
| Heating: | Electric |
| Interior Features: | Turnkey |
| Kitchen Features: | Remodeled |
| Laundry: | In Unit |
| Patio Features: | Patio Open |
Exterior
| Pool: | True |
| Pool Description: | Fenced |
Detailed Map
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