729 Cedar St

Santa Monica CA 90405

5995 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

Introducing a meticulously maintained investment opportunity in the heart of Santa Monicas sought-after Ocean Park neighborhood. Walkable distance from the beach and two blocks from the peaceful greenery of Joslyn Park, this solid asset offers exceptional value with a current CAP rate of 2.85%. Current expenses include a property management fee, $6,000 per year, so if the Buyer elects to self-manage the property and thereby eliminates management expenses, the potential CAP rate could increase to 3.1%, with a potential market CAP rate of 4.5% with market rents. Residents enjoy quick access to many everyday conveniences along Lincoln Boulevard, including Gelsons, Whole Foods Market, popular coffee shops, and a wide variety of restaurants, as well as the vibrant shops and dining of Abbot Kinney and Main Street. Santa Monicas excellent Transit Score of 75 and Bike Score of 72 make every destination within easy reach.

Features

6 bedrooms

4 bathrooms

5995 sq. ft. lot size

Multi-Family

Property history for 729 Cedar St

2015

Sold

$1,775,000

07 Jul 2015 by Stacey Valnes, of Valnes Bell Realtors

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Local market activity for 6 bedroom multi families in Santa Monica

In the last 12 months, 1 six-bedroom multi family similar to 729 Cedar St, have been sold.

Sold

For Sale

View the listing for inspection times, agent contact details, and more.

Takeshi Kida

at Takeshi Kida

View listing

Sales:: (619) 566-0008

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