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2615 2nd Street, Santa Monica, CA 90405
$3,300,000
2615 2nd Street, Santa Monica, CA 90405View this property at 2615 2nd Street, Santa Monica, CA 90405
2615 2nd StreetSanta MonicaCA90405
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Property Description
Priced at high 4.47% CAP Rate for this location, 2615 S 2nd St, a prime apartment complex boasting 7 units situated just 2 blocks from the water. The property is in the Ocean Park area, just a block from Main Street. Only 2 blocks from the beach, this property has an almost perfect walk score of 98 and bike score of 86. It is located in an excellent demographics area of ±$131,779 average household income within a mile radius. The property has been upgraded extensively and its soft-story parking has been seismically retrofitted. It has copper plumbing throughout, updated sewer line, updated electrical, and double pane windows throughout. In addition, the property has security camera systems installed. Almost turnkey condition where major systems have been upgraded and 6 out 7 units have been completely upgraded.
The property is an attractive 2-story modern, mid-century apartment that was built in 1962. It offers an excellent curb appeal and has a total of ±4,696 square feet building size; it is situated on a ±6,487 square feet lot.
The property offers six (6) 1bedroom+1bathroom and one (1) large 2bedroom+2bathroom units. All units (except #1) have been completely upgraded with modern upgrades which include recessed lighting, new flooring throughout, in-unit washer/dryer, new kitchen with quartz countertops + new kitchen cabinets + dishwasher, new bathroom with new vanity cabinets, and mirrored closet doors. The 2 bedroom unit is large and bright with desirable layout and has been fully upgraded.
There are 7 assigned parking spaces (5 carports + 2 open). The parking soft-story area has been seismically retrofitted according to code. Each unit is separately metered for electricity and gas.
Located in the southwest corner of Santa Monica is the Ocean Park neighborhood. The Ocean Park neighborhood is unique in the sense that it has one of the highest proportions of one, two, or no (studio) bedroom real estate of any neighborhood in America. This means it has a higher proportion of its residents employed as executives, managers and professionals - in comparison to the 98.4% of the neighborhoods in America. Many Santa Monica residents come to shop/browse on Main Street, home of many boutiques, restaurants, as well as a local farmer's market every Sunday. SMASH (an alternative school), Olympic High and John Muir elementary are schools located in the neighborhood.
Full Property Details
Full Property Details for 2615 2nd St
General
- Sold For: $3,300,000
- Status: Closed
- Type: Multi-Family
- MLS ID: AR23176881
- Added to Site: 256 day(s) ago
Interior
- Fireplace(s): None
- Appliances: Dishwasher, Gas Range
- Flooring: Carpet, Vinyl, Wood
Rooms
Other Rooms
- Laundry: None, Dryer Included, Inside, Washer Included
Additional Information
- Pool Description: None
- Spa Description: None
Parking
- Parking Features: Assigned, Carport
- Parking: Assigned, Carport
Location
- Area: C14 - Santa Monica
- County: Los Angeles
- Development Name: C14 - Santa Monica
- Driving Directions: Ocean Park Blvd go south towards the beach, make left on 2nd St, property on left hand side
- Direction Faces: Southwest
Heating & Cooling
- Cooling Type: Wall/Window Unit(s)
- Heating Type: Wall Furnace
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 8
- # Electric Meters: 8
Structural Information
- Architectural Style: Mid Century Modern
- Roof: Flat
- Entry Location: 1
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 4,696
- Year Built: 1962
Unit Information
Unit 1
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 2
Unit 2
- Number of Units: 6
- Total Bathrooms: 1
- Bedrooms: 1
Lot Features
- Lot Size (Acres): 0.1489
- Lot Size Source: Assessor
- Zoning: SMOP2*
- Lot Description: Level with Street, Rectangular Lot, Level, Near Public Transit
Financial Considerations
- Price Per Sq. Ft.: $702.73
- Price Per Unit: 542857
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed by Growth Investment Group Pasade, Han Chen
Sold by Person Realty Inc., Tatsuya Nakanishi
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Schools
Schools serving 2615 2nd St
School District:Santa Monica-Malibu Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
John Muir Elementary School, Santa Monica, CA
2526 6th St, Santa Monica, CA 90405 | K-5 | 0.2 mi | |
2425 16th St, Santa Monica, CA 90405 | 6-8 | 1 mi | |
601 Pico Blvd, Santa Monica, CA 90405 | 9-12 | 0.7 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2615 2nd St
Date
Details
Price
Change
Source
5/09/2024
Sold
$3,300,000
-13.16%
MLS
3/21/2024
Price Reduced
$3,800,000
-2.56%
MLS
1/26/2024
Price Reduced
$3,900,000
-4.41%
MLS
9/21/2023
Listed
$4,080,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2615 2nd Street, Santa Monica, CA 90405 (MLS# AR23176881) is a Multi-Family property that was sold at $3,300,000 on May 09, 2024. Want to learn more about 2615 2nd Street? Do you have questions about finding other Multi-Family real estate for sale in Santa Monica? You can browse all Santa Monica real estate or contact a Coldwell Banker agent to request more information.