1452 26Th StSanta Monica, CA 90401

Property Details for 1452 26Th St

Year built

1947

Construction

WOOD

Lot size

0.16 AC

Property size (Sq ft)

1,590 SF

Zone code

SMC4*

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

4275-001-010

APU

4275001010

Description

This exceptional 2,874 square foot medical office building in Santa Monica, CA, presents a lucrative investment opportunity. Boasting a 5.27% cap rate and a substantial net income of $155,513.06 (based on a $2,950,000 asking price and including property tax), this property offers strong financial returns. Situated on a 7,000 square foot lot, the building features 13 improved offices, each designed for individual practitioners with individual climate control, state-of-the-art soundproofing, and a natural gas fireplace. Four separate waiting rooms and three bathrooms cater to tenant needs. On-site parking is available for all tenants, supplemented by ample street parking. The building's prime location offers easy access to the 10 Freeway and surrounding areas including West Los Angeles, Brentwood, Pacific Palisades, Venice, and Marina Del Rey. This is a walkable area with a Walk Score of 91 and a Bike Score of 79. The sale requires all-cash purchase with no loan contingency, a 30-day escrow (including a 15-day due diligence period), and buyer cooperation in a 1031 exchange. The buyer is advised to verify the square footage of both the building and the lot. Gross income is $230,010.36 and expenses are $74,497.30.

• CAP approach

  CAP return

  Valuation

  6%

  $497,280

  6.5%

  $459,028

  7%

  $426,240

• Comparable approach

  Method

  Valuation

  Relative Method

  $467,525

  Geo Method

  $468,649

• Alternative Use

  Use

  Valuation

  Residential

  $459,028

  Hospitality

  $420,467

  Educational

  $349,824

  Medical

  $361,855

  Retail

  $544,170

Location Insight

City

Santa Monica

County

Los Angeles

State

California

Latitude

34.032

Longitude

-118.473

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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