2415 Arizona ave, Santa Monica, CA 90404
Active
$1,850,000
4%
4 Units
4 Beds
4 Baths
1,924 Area(sq.ft.)
Lot: 5,293 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 2,700 | $ 2,700 | $ 2,900 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,400 | $ 2,400 | $ 2,900 |
| Unit 3 | 1 | 1 | 1 | No | n/a | n/a | $ 2,900 |
| Unit 4 | 1 | 1 | 1 | No | $ 1,603 | $ 1,603 | $ 2,900 |
| 4 | 4 | 4 | $ 6,703 | $ 6,703 | $ 11,600 |
| MLS #: | 25547035 |
| Days On Market: | 187 |
| Listing Date: | June 2, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 962 |
| Price per unit: | $ 462,500 |
| Year Built: | 1938 |
Property Details
Charming and well-located 4-unit bungalow property situated on a gated, secure corner lot at Arizona Avenue and Chelsea Avenue in the heart of Santa Monica. This attractive asset offers a rare opportunity to acquire stabilized income in a prime location & high-demand rental market. It is also a perfect for an owner-user property, with one of the units to be delivered VACANT as of July 1st. The property consists of two separate duplex structures, each containing two 1-bedroom units, with a shared central patio between the buildings offering a welcoming communal space. Each unit features both front and rear entry access and are light & bright with plenty of sunshine. Three of the four units have been thoughtfully upgraded with new laminate flooring, upgraded bathroom tile, modern light fixtures, new blinds, and upgraded appliances. All units are equipped with gas wall heaters, and water heaters that have been replaced within the past seven years. Unit 2415, located closest to the alley, also enjoys a spacious private patio, perfect for outdoor living and added privacy. The property includes four private garages accessed from the alley, one of which will be available for the upcoming vacancy. Two of the garages are currently rented separately, generating an additional $400 per month in rental income. The garages also provide the perfect opportunity to convert to ADUs (Buyer to verify). Situated on a 5,293 SF R2-zoned lot, 2415 Arizona Avenue is ideally located just minutes from some of Santa Monica's most desirable amenities, including Whole Foods, Trader Joe's, Reed Park, Virginia Avenue Park, and Santa Monica College.Interested in this Listing?
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Income Details
| Vacancy Rate: | 25% |
| Gross Operating Income: | $ 116,579 |
| Total Annual Expense: | $ 33,328 |
| Net Operating Income: | $ 83,251 |
| Gross Annual Income: | $ 115,236 |
| Cap Rate: | 4.34% |
| Gross Rent Multiplier: | 16.00 |
Structure
| Type of Units: | 1+1 |
| Buildings: | 2 |
| Levels: | One |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Garage - 4+ Car |
Interior
| AC/Cooling: | None |
| Equipment: | None |
| Heating: | Wall |
Exterior
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