1124 7TH Street

    Santa Monica, CA 90403
    • $2,550,000
    • STATUS: Active
    • ON SITE: 8 days
    • ID#: 19444468
    UPDATED: 39 min ago
    $2,550,000
    • 2
      BEDS
    • 0.17
      ACRES
    • 1
      BATHS
    • 0
      1/2 BATHS
    • 1,256
      SQFT
    • $2,030
      $/SQFT
    Neighborhood:
    Type:
    Single-Family Home
    Built:
    1907
    County:

    School Ratings & Info

    Description

    The subject property is a historical home with potential to rehabilitate the existing cottage on the property and add 3 units as per plans. The comparables used to evaluate the property are recent townhome sales in the area. The comparable with the most effective data to project a value is 954-956 A-C 5th St. This property had development potential at the time of sale, the existing historic home on the property was rehabilitated and the developer added 3 additional units all approximately the same size as our subject property's architectural assumptions. Condominiums in this highly desired pocket of Santa Monica sell for $2,500,000 on average, and a developer would have the opportunity to build 3 more units behind the existing cottage and later sell all four (4) condos for a total of $10,000,000. This is a huge spread and a great value-add opportunity for any developer to capitalize on the hot condominium market in Santa Monica.

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    Based on information from CARETS as of 2019-03-24T14:45:10.11. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.rosalietherealtor.com/homes/92733707

    1124 7TH Street Santa Monica, CA 90403

    • Price: $2,550,000
    • Status: Active
    • Updated: 39 min ago
    • ID#: 19444468
    2
    Beds
    1
    Baths
    0
    ½ Baths
    0.17
    Acres
    1,256
    SQFT
    $2,030
    $/SQFT
    1907
    Built
    Neighborhood:
    Santa Monica (C14)
    County:
    Los Angeles
    Area:
    Santa Monica (C14)
    Property Description
    The subject property is a historical home with potential to rehabilitate the existing cottage on the property and add 3 units as per plans. The comparables used to evaluate the property are recent townhome sales in the area. The comparable with the most effective data to project a value is 954-956 A-C 5th St. This property had development potential at the time of sale, the existing historic home on the property was rehabilitated and the developer added 3 additional units all approximately the same size as our subject property's architectural assumptions. Condominiums in this highly desired pocket of Santa Monica sell for $2,500,000 on average, and a developer would have the opportunity to build 3 more units behind the existing cottage and later sell all four (4) condos for a total of $10,000,000. This is a huge spread and a great value-add opportunity for any developer to capitalize on the hot condominium market in Santa Monica.
    Exterior Features

    Building Structure Style Cottage Common Walls Attached Parking Type Other Pool Descriptions No Pool Spa Descriptions None View Other View

    Interior Features

    Cooling Type Other Fireplace Features Other Fireplace Rooms Other Fireplace YN Yes Floor Material Other Heating Type Other Interior Features Other Laundry Locations Other - See Remarks Rooms Other Total Floors 1

    Property Features

    Country United States Of America Hoa YN N Legal Disclosures Take Property As IsCommission to Buyer Agent Lot Size Source Vendor Enhanced Property Sub Type Single Family Special Conditions Standard Sale Square Footage Source Vendor Enhanced Units Total In Complex 1 Zoning Smr2*

    Listing provided courtesy of David Harrington DRE#01320460 of Matthews Real Estate Investment Services.


    Based on information from CARETS as of 2019-03-24T14:45:10.11. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
    The Agency
    331 N Foothill Rd, #100
    Beverly Hills CA, 90210