848 19th St, Santa Monica

The LAAA Team of Marcus & Millichap is proud to announce the successful sale of these 6 units located at 848 19th Street, in Santa Monica, California. Built in 1960, this 6-unit apartment value-add building is located in one of the most desirable Santa Monica Locations: the Wilshire-Montana corridor. The property is ideally located north of Wilshire Blvd, just steps away from Montana Ave, has a walk score of 80, is less than 1.5 miles from the beach, and is in close proximity to Whole Foods, Starbucks, and many other popular shops, restaurants and conveniences.

This 1960 vintage property boasts an excellent unit mix with all 6 of the units being very large, approx. 1,400 sq. ft., 3-bed/2-bath units. Furthermore, these one of a kind units, with very large windows throughout, making these units naturally bright and welcoming, come with a private balcony/patio for each unit. A major benefit of this property is that the mandatory soft story / seismic retrofitting has already been completed and paid for by the seller. This allows the buyer to escape a major cost that other similar buildings would have, and instead, the buyer can focus their money and energy on renovating the units to get them to their full potential.

Through our superior marketing platform, we were able to generate multiple offers and source a qualified 1031 exchange buyer who closed all cash during the COVID-19 pandemic.

For more information about this transaction or a complimentary evaluation for your property, give Aida a call or email today!

(818) 212-2678

Aida.Memary@marcusmillichap.com

P.S. Aida just listed two more similar deals in Santa Monica. Give her a call if you are interested in buying multifamily in prime Santa Monica.

Closing