Address
500 California Avenue Santa Monica, CA
Price
$ 12,000,000
Property Attributes
  • MLS#0020636306
  • TypeIncome
  • CountyLOS ANGELES
  • CitySanta Monica
  • AreaSanta Monica
  • Zip90403
  • Style
  • Price$ 12,000,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.34 Acres
Listing Provided Courtesy Of:
Berkadia
Property Description

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 History
9/23/2020 Listed $12,000,000

General Features

MLS Area C14 - Santa Monica
Parking Features Side by Side
Senior Community Y/N No
Zoning SMR2*

Interior Features

Air Conditioning Y/N No
Total Stories 2

Exterior Features

Foundation Details None
Land Lease Type Fee
Lot Size Acres 0.34
Lot Size Area 15007.0
Lot Size Square Feet 15007.0
Lot Size Units Square Feet
Numberofunitsbuildings 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90403

Price
AVG $7.3M
$12M
Visits
AVG 62
12
Year Built
AVG 1960
1953
Walkscore
AVG 84
86
Data Provided by Walkscore ® not using MLS data

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