For Sale
$4,500,000

35 Arcadia TerSanta Monica, CA 90401

Beachfront Retail, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional Santa Monica retail property, located at 35 Arcadia Terrace, presents a compelling investment opportunity. The 3,810 square foot building sits on a 3,332 square foot lot and boasts nine units: eight one-bedroom, one-bathroom apartments and one studio. All units have undergone complete renovations, featuring updated kitchens, bathrooms, flooring, HVAC systems, and in-unit washer/dryers. There are no below-market rents, ensuring immediate positive cash flow. The property's prime location, steps from the beach, pier, and Promenade, guarantees high occupancy and strong rental demand. Built in 1912, the building is zoned SMR3. The asking price is $4,500,000, representing a price per square foot of $1,181.10 and a projected cap rate of 5.33%, with a current Net Operating Income (NOI) of $239,991. This property offers a significant return on investment with substantial upside potential due to its irreplaceable location and recently renovated units. The property's strong financial performance and prime location make it an exceptional addition to any investment portfolio. The Los Angeles County Assessor's Parcel Number (APN) is 4290-018-011. This is a rare opportunity to acquire a high-performing retail property in one of the most desirable locations in Southern California.

Highlights

  • Nine-unit multifamily property totaling ±3,810 square feet on a ±3,332 square foot lot.
  • Prime Santa Monica beachfront location near the pier and Third Street Promenade.
  • Unit mix: eight one-bedroom/one-bathroom units and one studio.
  • Completely remodeled units featuring new kitchens, bathrooms, flooring, HVAC systems, and in-unit laundry.
  • Market-rate rents currently in place.
  • Projected 5%+ return on investment upon full occupancy, with significant upside potential.

Property Details for 35 Arcadia Ter

Property type
Retail properties
Square Feet
3,810 SF
Year Built
1912
Units
9

Location Insight

City
Santa Monica
County
Los Angeles
State
California
Latitude
34.0099333
Longitude
-118.4938032
35 Arcadia Ter, Santa Monica, California

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35 Arcadia Ter
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