Ignite FB Tracking Pixel2626 Cloverfield Boulevard, Santa Monica, CA 90405 - Nicole Grey
Pinnacle Estate Properties, Inc.
Nicole Grey, Pinnacle Estate Properties, Inc.Phone: (818) 469-5007
Email: [email protected]
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listing
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Residential IncomeFor Sale
$4,995,000
2626 Cloverfield Boulevard
Santa Monica, CA 90405
Listed by Armin Soleimani DRE#01846872 [email protected] Global Platinum Properties, Inc.
MLS: California Regional MLS (CRMLS)
11Beds
12Baths
5,948Sq Ft
Est. Mortgage
$25,883/mo

Huge 650k Price Reduction & Now 100% Occupied! 12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.8% and 12.6 GRM from day 1! Priced at only 416k/door for renovated units with an amazing upside to 6.7% Cap Rate and 11.2 GRM on the proforma. Delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached ADUs. These units have been completely renovated with permits (100% occupied) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. Notably, there are preliminary plans for 2 additional detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The property is located in the heart of Santa Monica just minutes away from the Beach and within close proximity to Santa Monica Business Park as well as hip neighborhood attractions, restaurants, bars, and shops such as Layla Bagels, Local Kitchen & Wine Bar, Estate Coffee, and many more popping up all around the area.

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Information courtesy of Global Platinum Properties, Inc. is subject to verification and is not guaranteed.
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