1031 EXCHANGE AND PASSIVE INCOME RE INVESTORS: PARK YOUR CASH FOR A 5% CAP IN THIS TURN-KEY, NEWLY RENOVATED SIX-UNIT BUILDING IN A PRIME SANTA MONICA LOCATION! With the units rented for above-market rents, this is your opportunity to own a true turn-key, cash-flowing property by the Close of Escrow. Fully remodeled, this building is turn-key, and a dream for passive income investors wanting to park their cash, sign the papers, turn the keys right over to their property manager, and collect their monthly income. //About this property: Santa Monica is ideal for landlords as it offers plenty of tech job growth in an already stabilized rental market. This property's units mix includes (2) 2 Bdrm/1 Bath + den units, which each have a den that can function as a 3rd Bedroom, and (4) regular 2 Bdrm/1 Bath units. Five (5) of the units have been freshly updated with new AC split systems, double-paned windows, new electrical systems, vinyl flooring, and an abundance of natural light flowing throughout the spacious living areas. Tenants will love new recessed lights, chic wallpaper, and new bathrooms with designer tiles, allowing you to capture above-market rents. The kitchens feature brand-new stainless-steel appliances, two-toned, modern, glossy cabinets, and quartz countertops. A communal courtyard space is ideal for tenants looking for a lovely outdoor space to hang out or soak up the sun outdoors. Each unit includes one space with 4 carport spaces and two 1 car private garages. The property also offers on-site laundry for all the tenants, for additional monthly income. //You'll Love: Each unit has its own personality, is turnkey, and in a well-desired location - you will love them all! //The Neighborhood: Santa Monica offers a high-demand rental market with tech job corridors nearby along Ocean Park Blvd and Olympic Blvd. Plus, tenants have a plethora of options nearby: only 1/2 mile to the beach and moments from the Expo Line, libraries, parks, the Farmers Market, 365 Whole Foods Market, and minutes to restaurants and shops on Ocean Park Blvd.
Listed by Samantha Kinnon, Pardee Properties,
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