605 San Vicente | Santa Monica

Offering Memorandum

605 San Vicente Boulevard

Santa Monica, CA 90402

Summary

UNITS

YEAR BUILT

GROSS SF

LOT SF

APN

ZONING

1973

41,832

22,318

429-001-031

SMR2*

Property Overview

Realty Investment Advisors and RE/MAX Commercial & Investment Realty are proud to present a unique acquisition opportunity at 605 San Vicente Boulevard, Santa Monica, California. This 30-unit multifamily property presents an unparalleled value-add proposition set within a landscape abundant in luxury and accessibility.

Built in 1973, the property boasts a total of 30 units, with 9 currently vacant and presenting a unique opportunity. Featuring a 41,832 square foot building on a 22,318 square foot lot, the unit mix is ideal with (12) two bedroom two bath units, (12) one bedroom one bath units and (6) two bedroom two bath units with an additional den. This sets the stage for discerning investors to rejuvenate a generational asset within one of Los Angeles' high-demand rental markets, unlocking the potential for commanding premium rents. As Los Angeles continues to flourish in this dynamic era, there is a noticeable uptick in the appetite for upscale beachside apartment living. Six of the property's 30 units have already been elegantly upgraded to embody opulence, with features like superior finishes, cutting-edge appliances, in-unit washer and dryer, recessed lighting, and remodeled kitchens and bathrooms.

This gem in the heart of Northern Santa Monica is situated amid a dynamic blend of premier job opportunities, high-end shopping venues, gourmet dining, lively bars, diverse entertainment, and seamless transportation networks. Merely a leisurely stroll from the radiant Santa Monica beach and nestled comfortably between the plush Montana Avenue and Pacific Palisades neighborhoods, 605 San Vicente Boulevard epitomizes the Santa Monica lifestyle. The property, located within Silicon Beach's thriving tech sphere, counts industry heavyweights like Snapchat, Hulu, and HBO among its neighbors.

The communal rec room holds the potential for the introduction of community amenities such as a gym or a business center, or even transformation into an Accessory Dwelling Unit (ADU) for added revenue. Residents will compete for a place in this sanctuary, where they will enjoy luxury living spaces and a tranquil oasis in LA's most sought-after neighborhood. With its unparalleled location and untapped earning potential, 605 San Vicente Boulevard promises investors long-term, robust returns. Investing in this property translates to investing in an idyllic Santa Monica lifestyle.