423 Ocean Avenue, Santa Monica

$16,000,000

28 Beds
18 Baths
17,900 Sqft
.52 Acres
15 Garages

423 Ocean is a generational opportunity to acquire a vacant 16-unit apartment building with underlying entitlements for 12 condominium units located on prime Ocean Avenue, north of Montana Avenue, in the City of Santa Monica. The existing apartment units have been vacated pursuant to the Ellis Act in anticipation of building the condominium project. A future Buyer will have the option of rehabbing the existing units and re-leasing them at current market rents (subject to rent control going forward) or executing the approved condominium development plan. The existing buildings are designated historical landmarks, which have been incorporated into the future development plan.

Essential Information
MLS® #818005507
Price$16,000,000
Bedrooms28
Bathrooms18.00
Full Baths18
Square Footage17,900
Acres0.52
Year Built1936
TypeResidential Income
StatusActive
Community Information
Address423 Ocean Avenue
AreaSanta Monica (C14)
SubdivisionNot Applicable - 1007242
CitySanta Monica
CountyLos Angeles
StateCA
Zip Code90402
Amenities
# of Garages15
View

Bluff, Ocean View, Panoramic View, Park Or Green Belt View, Water View

Interior
FireplaceYes
FireplacesOther
# of Stories3
StoriesTwo Level
Additional Information
Date ListedNovember 12th, 2018
Days on Market97
ZoningSMR4*
HOA Fees0.00
Listing Details
AgentRichard Byrd(01301749)
OfficePark Place Partners, Inc.
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