1430 Franklin st, Santa Monica, CA 90404
Active
$2,450,000
5 Units
8 Beds
5 Baths
3,486 Area(sq.ft.)
Lot: 7,805 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 3,153 | $ 3,153 | $ 3,500 |
| Unit 2 | 1 | 2 | 1 | No | $ 3,053 | $ 3,053 | $ 3,500 |
| Unit 3 | 1 | 2 | 1 | No | $ 2,153 | $ 2,153 | $ 3,500 |
| Unit 4 | 1 | 2 | 1 | No | $ 2,148 | $ 2,148 | $ 2,800 |
| Unit 5 | 1 | 2 | 1 | No | $ 2,680 | $ 2,680 | $ 2,800 |
| 5 | 10 | 5 | $ 13,187 | $ 13,187 | $ 16,100 |
| MLS #: | 24-462495 |
| Days On Market: | 390 |
| Listing Date: | November 11, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 703 |
| Price per unit: | $ 490,000 |
| Year Built: | 1944 |
Property Details
The property located in a heart of Santa Monica, close to many shops, restaurants and entertainment establishments, and Santa Monica Beach. Stable occupancy and income stream with substantial up side potential (approximately 32% below the market rent). 1) High Demand Rental Area with Quiet Neighborhood, 2) On-Site Laundry Room for additional income, and 3) Two units have updated with new kitchen and bathroomsInterested in this Listing?
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Income Details
| Vacancy Rate: | 3% |
| Gross Operating Income: | $ 155,273 |
| Total Annual Expense: | $ 51,995 |
| Net Operating Income: | $ 103,278 |
| Gross Annual Income: | $ 160,020 |
| Cap Rate: | 4.22% |
| Gross Rent Multiplier: | 15.31 |
Structure
| Type of Units: | 1+1, 2+1 |
| Buildings: | 2 |
| Levels: | One |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Garage Is Attached |
Interior
| AC/Cooling: | Wall Unit(s) |
| Equipment: | Dishwasher, Microwave, Garbage Disposal, Range/Oven, Refrigerator |
| Heating: | Wall |
Exterior
Detailed Map
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