1446 Yale St Santa Monica, CA 90404-3138

Property Details for 1446 Yale St

Year built

1946

Construction

WOOD

Lot size

0.21 lot acres

Property size

4,014 SF

Zone code

SMR2*

Property type

Apartment buildings

APN

4267-019-021

APU

4267019021

Description

This exceptional investment opportunity presents a seven-unit multifamily property ideally situated in Santa Monica, California. The property, encompassing approximately 3,725 square feet of net rentable space, is comprised of one studio/one-bath unit and six two-bedroom/two-bathroom units. Built in 1946 and completely renovated in 2018, this meticulously maintained property boasts a desirable mix of unit types catering to a wide range of renters. Situated on a 0.21-acre lot (9,000 square feet) and zoned R2, the property offers significant upside potential. Amenities include a gated glass entry, lush landscaping, a courtyard with a BBQ area, and fully equipped kitchens featuring deluxe stainless steel appliances. Five carport parking spaces and a multi-bike rack provide ample parking for residents. The property's convenient location is just southeast of Santa Monica Boulevard, with easy access to the 10 and 405 freeways and the Expo/Bundy Metro Station (within 1.2 miles). The property's strong financial performance is highlighted by a 5.97% cap rate and a net operating income (NOI) of $214,853, with an asking price of $3,600,000 ($514,286 per unit). This bank-owned foreclosure presents a rare chance to acquire a high-performing asset in a highly sought-after location. The property's walk score is 89 and its bike score is 90, reflecting its walkability and bikeability. This is a truly exceptional opportunity for discerning investors seeking a strong return in a prime Santa Monica location. The property's address is 1446 & 1448 Yale Street, Santa Monica, CA 90404, APN 4267-019-021.