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$12,000,000
500 California Ave, Santa Monica, CA 90403
35 Beds
23 Baths
17,213 sqft

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500 California is a 23-unit legacy apartment building located in prime Santa Monica, just four blocks to iconic Ocean Avenue and Palisades Park. Offering an investor a rare opportunity to purchase irreplaceable real estate, this is the first time this property has been on the market in over 20 years. The property is walking distance to all of the shops, restaurants, and entertainment that downtown Santa Monica has to offer, including: the Third Street Promenade, trendy Montana Avenue, renowned Ocean Avenue, and the iconic Santa Monica Pier. Offering tremendous proximity to employment, Santa Monica is a thriving technology, media and entertainment hub, and an integral part of Silicon Beach. The property has a desirable unit mix of ten 1+1; twelve 2+1; and one single units. The two-story garden-style community has been well-maintained and offers an investor significant rental upside with a 4.7% cap at mkt. RENTS SHOWN ARE AVERAGES - Rent Roll available on website (see Pvt Remarks).
  • Price:
  • $12,000,000
  • Bedrooms:
  • 35
  • Square Footage:
  • 17,213
  • Acreage:
  • 0.34
  • Year Built:
  • 1953
  • Listing ID #:
  • 20-636306
  • Street Address:
  • 500 California Ave
  • City:
  • Santa Monica
  • State:
  • California
  • Postal Code:
  • 90403
  • County:
  • Los Angeles
  • Community:
  • Santa Monica
  • Listing Status:
  • Active
  • Number Of Units:
  • 23
  • Stories:
  • 2
  • Total # Of Buildings:
  • 1
  • Total Building Square Footage:
  • 17213
  • Year Built:
  • 1953
  • Gross Income:
  • 622793
  • Net Operating Income:
  • 379354.00
  • Conforms To Zoning:
  • Smr2*
  • Lot Square Footage:
  • 15007
  • Days On Market:
  • 27
  • Street Direction Suffix:
  • Ave
  • Street Type:
  • Ave
  • Price Per Square Foot:
  • 697.15
  • Parking Description:
  • Side By Side
  • Parking Spaces:
  • 12
  • Equipment:
  • Range/Oven
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By Adrienne Barr of Berkadia
  • CACLAW

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