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423 Ocean Avenue Santa Monica, CA 90402

  • 28 Bed
  • 18 Bath
  • 17,900 sqft
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Residential-Active $ 16,000,000

MLS#: 818005507

Courtesy of: Richard Byrd, Park Place Partners, Inc.

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Description

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.

Specifications


    Listing, Location and Property Info


  • 30769230.77
  • 893.85
  • 1655
  • C14 - Santa Monica

    General Property Information


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  • 22464
  • Public Records
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