$4,400,000
1111 Lincoln Boulevard, Santa Monica 90403
18
Beds
18
Baths
10,356
Square feet
7,519
Lot Size
10
# Of Units
Listing Agent
Keith Moret - Lyon Stahl Investment Real Estate, Inc.This classic Mid-Centry Modern property in the Wilshire-Montana neighborhood is available for the 1st time in decades. It features 10 Huge Units averaging 1,000 SF each, and there is over 35% upside on rents. The unit mix is outstanding with (8) 2BR/2BA units, and (2) 1BR/1BA units. The low Price per SF for the area ($441) makes this property the best value North of Wilshire. The building front features a lovely facade with brick planters and wainscotting that creates visually stunning curb appeal. There is secure subterannian parking with automatic gate, controlled access, and on-site laundry so tenants will feel safe and secure. There is no seismic retrofit required. The building systems have recently been updated with new paint/stucco exterior, parking gates front & back, and a new re-circulation pump, expansion tank and sump pump. Some of the plumbing supply lines have been re-piped with copper, and there is new carpeting in the exterior stairwells. The roof was also recently repaired and coated with silicone sealant, and there are new gutters & downspouts. The location is spectacular! It is just a few blocks from Inspiration Point, Palisades Park, the renowned Saint Monica's Prep School and Church, the 3rd Street Promenade, and across the street from Emerson Park with tennis & basketball courts, etc. The family has lovingly maintained this charming property for over 50 years and is now ready to a set a place at the table for a new owner. Your investment in this Prime location will be lucrative with a property that will be cost-effective to operate and easy to maintain.
Facts & Features
MLS® # | 24378867 |
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Price | $4,400,000 |
Bedrooms | 18 |
Bathrooms | 18.00 |
Square Footage | 10,356 |
Lot Size | 7,519 |
Year Built | 1968 |
Type | Residential Income |
Status | Active |
# Of Units | 10 |
Community Information
Address | 1111 Lincoln Boulevard |
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Area | C14 - Santa Monica |
City | Santa Monica |
County | Los Angeles |
Zip Code | 90403 |
Amenities
Parking Spaces | 10 |
---|---|
Is Waterfront | No |
Has Pool | No |
Interior
Appliances | Disposal |
---|---|
Heating | Wall Furnace |
Cooling | None |
Has Basement | No |
Fireplace | No |
# of Stories | 2 |
Stories | Multi/Split |
Additional Information
Date Listed | April 11th, 2024 |
---|---|
Days on Market | 22 |
Zoning | SMR2* |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Keith Moret |
---|---|
Office | Lyon Stahl Investment Real Estate, Inc. |