914 18th, Santa Monica, CA 90403
Bedrooms: 0
Bathrooms: 0
Area: 0 SqFt.
1. Delivered 100% vacant, plans approved to renovate 4 existing apartments and add 3 additional units, located in prime Santa Monica 2. Charming courtyard-style style configuration with (1) one-bedroom and (3) two-bedroom bungalow-style units surrounding a sunlit garden with the opportunity for a Buyer to build an additional duplex on what is currently the center courtyard, and a studio ADU over the garage 3. Seller has plans and permits stamped and approved to build three ADUs and renovate the existing units into Class A Spanish-style bungalows 4. Upon the completion of renovations and ADU development, a Buyer can quickly achieve an attractive 7.51% cap rate in one of the most competitive markets in the country 5. The property is exempt from Title 24, which alleviates energy restrictions and will allow for a more expeditious development process
CA DRE #01870580
6965 El Camino Real 105-690, Carlsbad CA 92009
877.692.8427
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