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423 Ocean Avenue, Santa Monica
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.
- MLS® #818005507
- Full Baths18
- Square Footage17,900
- Year Built1936
- TypeResidential Income
- # of Garages15
- ViewBluff, Ocean View, Panoramic View, Park Or Green Belt View, Water View
- Date ListedNovember 12th, 2018
- Days on Market102
- Address423 Ocean Avenue
- AreaSanta Monica (C14)
- SubdivisionNot Applicable - 1007242
- CitySanta Monica
- CountyLos Angeles
- Zip Code90402
- # of Stories3
- StoriesTwo Level
- Listing AgentRichard Byrd(01301749)
- Listing OfficePark Place Partners, Inc.
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Last updated on February 22nd, 2019 at 10:30pm PST