$2,495,000
Presenting a rare value-add development in the heart of Santa Monica! Delivered RTI, this property is fully approved for a thoughtfully designed 7-unit apartment complex. The existing site currently offers a charming courtyard arrangement of four bungalow-style residences one one-bedroom and three two-bedrooms surrounding a sun-filled garden. The approved plans reimagine the property with a tasteful renovation of the existing units into Class A Spanish-style bungalows, while adding three new residences: a duplex thoughtfully placed in the center courtyard and a studio ADU above the garage. The result is a boutique collection of seven residences blending historic charm with modern functionality. With stamped permits in hand and no delay in starting construction, this is a true plug-and-play opportunity to create one of the few new multifamily offerings in one of the strongest and most supply-constrained rental markets in Los Angeles. A turnkey investment opportunity in a premier coastal locationthis is not to be missed!
Listed by Jimmy Heckenberg with Rodeo Realty (310) 724-7100
Property Type
Residential Income
Status
Active
MLS Number
26868435
Year Built
1927
Lot Size
8,024 sq ft
Click to interact with map
1018 21st St, Santa Monica
Listed by James Dutton with J. D. Realty Company
1047 9th St, Santa Monica
Listed by Donald Heller with Christie's International Real Estate SoCal
947 17th St, Santa Monica
Listed by Esther Hickman with Compass
1231 17th St, Santa Monica
Listed by Jacob Zacuto with Zacuto Group
1937 17th St, Santa Monica
Listed by William James with Lyon Stahl Investment Real Estate, Inc.
1419 Stanford St, Santa Monica
Listed by Desiree Danialian with BEKERIS
2517 20th St, Santa Monica
Listed by Julie Lovett with Coldwell Banker Realty
2252 20th St, Santa Monica
Listed by Hatim Zaki with Nelson Shelton & Associates
