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$ 7,750,000
Est. payment /mo
Active
440 Raymond Avenue Santa Monica, CA 90405
15,820 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 15,820 sqft
Price per Sqft $489
MLS Listing ID CL26848557
HOA Y/N No
Year Built 1969
Lot Size 0.317 Acres
Acres 0.3171
Property Sub-Type Other
Property Description
*NOW TOURING* We are proud to present 440 Raymond Ave, a 20-unit multifamily investment opportunity located in the highly sought-after Ocean Park neighborhood of Santa Monica. Held by the same family since 1997, this offering represents a rare opportunity to acquire a Westside asset being offered for sale for the first time in nearly 30 years. Featuring a desirable courtyard-style layout, the property has benefited from significant capital improvements throughout ownership, including a complete copper plumbing repipe, newer above grade sewer pipes, completed seismic retrofit work, security enhancements, and numerous common area improvements. Additionally, 15 of the property's 20 units have been renovated with updated kitchens and bathrooms, quartz countertops, upgraded cabinetry, wood flooring, ceramic tile finishes, crown molding, LED lighting, and updated appliances. Ownership has completed extensive renovations while leaving additional upside through continued unit turnover.Positioned approximately five blocks from the Pacific Ocean, residents enjoy convenient access to Main Street Santa Monica's restaurants, cafes, boutiques, fitness studios, and neighborhood-serving retail. The property is also located near the Santa Monica Farmers Market, Santa Monica Pier, Abbot Kinney,Third Street Promenade, and the beach bike path. Located in the heart of Silicon Beach, 440 Raymond Ave benefits from proximity to major employment centers throughout Santa Monica, Venice, Playa Vista, Marina del Rey, and Culver City. Convenient access to Lincoln Boulevard, Pacific Coast Highway, and the I-10 Freeway further enhances accessibility throughout the Westside.440 Raymond Ave offers investors a rare opportunity to acquire a well-located Ocean Park apartment asset being offered for sale for the first time in nearly 30 years, with extensive renovations, a walk-to-beach location, and continued rental upside.
Location
State CA
County Los Angeles
Zoning SMOP2*
Interior
Heating Wall Furnace
Cooling None
Flooring Carpet
Fireplace No
Building
New Construction No
Others
Tax ID 4287020031
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Listed by Don Favia • Realty Investment Advisors, Inc.