2302 Oak Street, Santa Monica, CA 90405
  • MLS#: OC25272345 ( Commercial/Residential )
  • Street Address: 2302 Oak Street
  • Viewed: 2
  • Price: $3,950,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1965
  • Bldg sqft: 0
  • Days On Market: 24
  • Additional Information
  • County: LOS ANGELES
  • City: Santa Monica
  • Zipcode: 90405
  • Provided by: Real Broker
  • Contact: Andy Andy
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Beautifully situated in a prime Santa Monica location, this seven unit multifamily property lies just moments from the Santa Monica Business Parkhome to major employers such as Snap, Hulu, Crexi, and Naughty Dogand only a few blocks from Santa Monica College, which serves more than 26,000 students and faculty. The property is also positioned to benefit from the Santa Monica Airport Conversion Project, a city led initiative that will permanently close the airport by 2028 and transform the surrounding area into expansive parks, open space, and new community amenities. This once in a generation redevelopment is expected to significantly enhance neighborhood quality, elevate desirability, and support long term rental and asset value growth. Built in 1965, the asset offers approximately 9,109 square feet of living area on an 8,287 square foot lot, featuring an exceptional unit mix of three 2 bed/2 bath units, three 3 bed/2 bath units, and one 4 bed/3 bath townhouse style front unit. All units provide spacious layouts and ample storage. The building is separately metered for gas and electricity, includes an on site laundry room, and offers five units with in unit laundryhighly desirable amenities that support premium rent potential. Seven parking spaces, including four gated stalls, provide added security and convenience. Two units have recently undergone substantial upgrades, including new flooring, renovated kitchens with gas appliances, updated bathrooms, modern lighting, and in unit laundry. These improvements reduce deferred maintenance, enhance tenant experience, and strengthen long term operating performance. With current rents still below market, a new owner will benefit from meaningful upside through natural turnover and full renovation of remaining units. Delivering immediate income, strong future rent growth, and extraordinary long term appreciation potential supported by the airport conversion, this offering represents a rare opportunity to acquire a turnkey multifamily asset in one of the Westsides most desirable and consistently high demand rental markets.
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Features
Association Fee
  1. 0.00
Building Area Total
  1. 9109.00
Commoninterest
  1. None
Common Walls
  1. No Common Walls
Country
  1. US
Electric Expense
  1. 960.00
Entry Location
  1. First Floor
Fuel Expense
  1. 2400.00
Garage Spaces
  1. 4.00
Gardner Expense
  1. 720.00
Insurance Expense
  1. 4800.00
Laundry Features
  1. Community
  2. Inside
Levels
  1. Two
Lot Features
  1. 6-10 Units/Acre
Netoperatingincome
  1. 227750.00
Newtaxesexpense
  1. 43450.00
Otherexpense
  1. 720.00
Otherexpensedescription
  1. PestCtrl
Parcel Number
  1. 4272021001
Pool Features
  1. None
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Commercial/Residential
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 453108054:CRM
Tenant Pays
  1. Electricity
  2. Gas
Totalactualrent
  1. 24300.00
Totalexpenses
  1. 63850.00
Trash Expense
  1. 3000.00
Water Sewer Expense
  1. 4200.00
Water Source
  1. Public
Year Built
  1. 1965
Year Built Source
  1. Public Records