4-Unit Quadplex with
For Sale
$1,695,000
2447 Chelsea Pl, Santa Monica, CA 90404
Residential income property with covered carports, shared laundry, and a communal patio area.
Property Size4,255 SF
Days on Market54
Property Features for 2447 Chelsea Pl
General Information
Standard status
Active
Size
4,255 SF
Total Parking Spaces
4
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Pico
Units
Unit Mix
3 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
4
Amenities
private balconies
community laundry facilities
patio area
Building Details
Building Size
4,255 SF
Year Built
1965
Listing Agency:
Element RE, Inc
Listed By:
Keri White · License #01491049
(310) 804-4011
Source:
Evecap
Added: Sep 3
Changed: Oct 17
Last Checked: Oct 25 at 12:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Element RE, Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 2447 Chelsea Place in Santa Monica, this 4,255-square-foot quadplex was built in 1965 and contains four residential units. The configuration includes three two-bedroom, two-bath residences and one one-bedroom, one-bath residence. Two units are positioned on the upper level and include private balconies, while the remaining residences are on the lower level.
Each unit has an assigned covered carport. Residents also have access to community laundry facilities and a shared patio area. The Santa Monica setting places the property near beaches, parks, shopping, dining, entertainment, and employment destinations identified in the property information.
Each unit has an assigned covered carport. Residents also have access to community laundry facilities and a shared patio area. The Santa Monica setting places the property near beaches, parks, shopping, dining, entertainment, and employment destinations identified in the property information.
Key Highlights
- Four residential units: three 2‑bedroom, 2‑bath residences and one 1‑bedroom, 1‑bath residence
- 4,255 SF quadplex built in 1965
- Two upper‑level units include private balconies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,308
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,486,160
$1.5M
Cap Rate 7%
$1,061,543
$1.1M
Cap Rate 9%
$825,644
$825.6K
Market Conditions
NOI Build-Up for 4,255 SF
Gross rent
$114.9K $27.00/SF
− Vacancy
−$8.7K −$2.05/SF
EGI
$106.2K $24.95/SF
− OpEx
−$31.8K −$7.48/SF
NOI
$74.3K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,486,160
Cap Rate 7%
$1,061,543
Cap Rate 9%
$825,644
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$928.9K – $1.24M
NOI $74,308 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$978.1K
$855.8K – $1.14M
NOI $68,466 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,468 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
8,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 90404, CA
21,995
Population
11,499
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
10,998
Density / Sq Mi
$85,081
Median Household Income
$66,349
Median Earnings
$2,095
Median Rent
$1,159,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with covered carports, shared laundry, and a communal patio area.
Where is this quadplex located?
The property is located at 2447 Chelsea Pl Santa Monica, CA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Four residential units: three 2‑bedroom, 2‑bath residences and one 1‑bedroom, 1‑bath residence; 4,255 SF quadplex built in 1965; Two upper‑level units include private balconies
