1045 Ocean AVE

SANTA MONICA, CA, 90403

$15,800,000

$1,052 per ft²
$15,800,000
$1,052 per ft²
Active
Active
 - For Sale
carpenters-square
15,005 ft²
property_type
Multi-family
calendar
Built 1922
1045 Ocean Ave, Santa Monica. Steps from the beach in Santa Monica and walking distance to some of the best amenities in Santa Monica (world-famous Santa Monica Beach, Santa Monica Pier, Santa Monica Third Street Promenade, etc.), 1045 Ocean Avenue offers investor a once-in-a-lifetime opportunity to own an apartment asset in a truly irreplaceable location that could be considered as one of the best location in Southern California. 1045 Ocean Ave is a 20-unit (assessor shows 21 units) apartment in Downtown Santa Monica. It is located on Ocean Ave between California Ave and Washington Ave. It is located a block away from Third Street Promenade on Wilshire Blvd, across the street from Palisades Park that offers unobstructed ocean view of Pacific Ocean, Santa Monica Beach, Santa Monica Pier and Southern California coastline. It is within walking distance to all the best amenities Santa Monica has to offer, including Metrolink light-rail station on Colorado Ave. It has a strong demographics of $143,000 average household income within a 3-mile radius and has superb access to FWY 10 and CA-1N (Pacific Coast Highway) is a street away. The property is a 2-1/2 story apartment that was built in 1922. It has a total of 15,005 square feet building size (per profile) and situated on a 11,260 square feet R3 lot. It is surrounded by much higher density residential properties on its left and right. Unit mix consists of four (4) 2bedroom+1bathroom, eight (8) 1bedroom+1bathroom, eight (8) studio, and one (1) penthouse-1bedroom+1bathroom. The property is master metered for electricity, gas and water. It is under Santa Monica Rent Stabilization Ordinance (rent control). It has a shared laundry room. Several units have been upgraded and NINE (9) units are vacant and will be delivered vacant at close of escrow. Parking is provided by 6 garage parking in the back (alley access).
MLS® ID:
AR21228529MR
Updated:
8/12/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Fireplace
None

Exterior/Building Features

Lot Size
0.26 acres lot
Sewer
Public Sewer

Other Property Details

Garage
Yes
Garage Spaces
6
Parking
Assigned
Parking Total
6.0
View
Y
County
Los Angeles
Pool
No
Pool Description
None
Total Stories
3
Zoning
SMR3*
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