Property profile

3002 Pennsylvania Ave Santa Monica, CA 90404

OFF-MARKET
Office buildings
Property ID
US09-7889949
6,155 SF 0.16 ac lot Built 1956
Entity Owned 13-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 6,000 square foot creative office building, located in the heart of Santa Monica's Media District, presents a unique investment opportunity. Built in 1950, this single-story, Class B property boasts a desirable hard corner location and offers multiple tenancy options. Currently, 3,500 square feet of space is available, with individual suites ranging from 1,400 to 3,500 square feet. The building features high-height exposed wood beam ceilings, polished concrete floors, and operable Torrance steel windows throughout, creating a stylish and functional workspace. Abundant natural light streams in through strategically placed skylights. The property also includes a climate-controlled machine room, ensuring optimal functionality for sensitive equipment. High-speed internet and ample power are readily available. The convenient location provides easy access to numerous restaurants and food trucks within walking distance. The property is zoned M2 and includes four parking spaces. The Los Angeles County Assessor's Parcel Number (APN) is 4268-009-001. This is an ideal space for creative businesses seeking a vibrant and well-equipped location in a thriving Santa Monica submarket. Don't miss this chance to secure a prominent presence in this sought-after area.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1956
Construction TILT-UP CONCRETE
Total area 6,155 SF
Lot 0.16 ac (6,843 SF)
Zoning code SMLMSD*
APN 4268-009-001
UPID US09-7889949

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Film Production Television Studio
  • (Bike/Boat/Book/etc) Store

Location

3002 Pennsylvania Ave Santa Monica, CA 90404-4194
Santa Monica metro Census 701801 LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.21M
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.65M

Owner & transaction history

since 2013
6 recorded transactions
2019
Price N/A
2013
Price N/A
1998
$950,000
1997
$685,629
1992
$840,000
1969
Price N/A

Zoning & alternative use

SMLMSD* · Santa Monica, CA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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