Residential Income In Santa Monica

A rare and fully reimagined 6 unit income property in the heart of Santa Monica’s coveted Sunset Park, 1022 Grant Street offers the increasingly difficult-to-find combination of character, extensive renovation and upgrades, private outdoor spaces and impressive market rents. Originally a five-unit property and now enhanced by a newly added 1 bedroom ADU, the property offers 6 residences, many of which feel more like individual homes than apartments. At the heart of the property are 3 highly desirable 2 bedroom bungalow-style residences, each with its own private entrance and with beautifully landscaped front garden spaces and some with patio spaces. Extensively remodeled (with Permits) incorporating a clean, timeless aesthetic, these residences feel like small houses and feature custom cabinetry, Caesarstone countertops, new appliances, wide-plank oak flooring, frameless glass showers with custom tiles and vanity, stacked in-unit washer/dryers and individual HVAC or mini-split systems. Ample double hung windows, mature landscaping and thoughtful separation create exceptionally light, private and inviting residences! Two additional units are positioned above the rear garages, providing separation from the bungalows, while the newly added and oversized 1 bedroom ADU further enhances the property’s income and flexibility. 2 private garages are also assigned to the bungalows . Perhaps most compelling, all but one of the residences are leased at impressive market rents, offering the unusual opportunity to acquire a substantially renovated Santa Monica income property without the significant loss-to-lease associated with most Santa Monica and Los Angeles income offerings. Equally compelling for an investor seeking strong, highly desirable rental product or an owner-user looking for a distinctive residence supplemented by meaningful income. Set along a quiet, tree-lined street in one of Sunset Park’s most desirable residential pockets, the property is moments from the restaurants, cafes and neighborhood amenities of Ocean Park and minutes from the beach. Beautifully renovated, predominantly market-rent, bungalow-style multifamily properties of this quality are exceedingly difficult to replicate in Santa Monica making 1022 Grant Street a truly rare offering. Call for information and showing.