2103 3rd Street
Santa Monica, CA 90405
- – beds
- – baths
- – sqft
- 12,782 sqft lot
- 1905 build
- – on site
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One of the most architecturally unique buildings in all of Santa Monica! 2103 3rd St is a 16-Unit asset located in the beautiful Santa Monica submarket, Ocean Park. The subject property is legally 15 units and has one non-conforming studio unit. This "A+" location, with great curb appeal, is located just minutes from the beach! This 16 value-add deal has nearly 20% upside in rents, once units are rented for the market. 7 units will be delivered tenant ready, offering immediate upside! 2103 3rd St has a great unit mix of (9) 1-Bd/1Ba, (4) 2-Bd/2-Ba & (3) studio units. These spacious units feature hardwood flooring and high ceilings. There are also 20 onsite parking spots for tenants, some being covered parking. There is also a laundry room onsite. Once the tenant ready units are rented for market price, the property will be performing at 3.63% CAP. There is plenty of room to increase the rents and achieve 5.85% Market CAP. The subject property is only minutes away from millions of dollars in development, including Third Street Promenade, Santa Monica Airport, Mirmar Hotel, and multiple mixed-use projects. This value-add property is an ideal pickup for any investor looking for a trophy asset with plenty of upside, in an A+ location.
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Last updated Apr 23, 2025
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MLS# SB21076716 —
The Building
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Year Built:1905
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:12321.00
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Building Area Units:Square Feet
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Total Number Of Units:16
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# of Buildings:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:1
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# of Separate Water Meters:1
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# of Separate Electric Meters:16
Interior
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Laundry:Community
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Laundry:1
Location
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Directions:Off Main St and Pico Blvd
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Latitude:34.00730000
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Longitude:-118.48610000
The Property
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Zoning:SMOP2*
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Lot Features:0-1 Unit/Acre
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Lot Size Area:12782.0000
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Lot Size Acres:0.2934
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Lot Size SqFt:12782.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:11
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Tax Census Tract:7020.02
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Tax Tract:7020.0
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Tax Lot:2
The Listing
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Special Listing Conditions:Standard
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Parcel Number:4289013017
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Showings Begin:2021-05-02
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Biking, Curbs
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Pool:None
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Senior Community:No
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Private Pool:No
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
View a full reportThis is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/14/22
Jul 14, 2022
|
Listed / Active | CRMLS_CA | ||
|
8/17/21
Aug 17, 2021
|
Sold | CRMLS_CA | $6,200,000 | -3.1% |
|
5/19/21
May 19, 2021
|
Sold Subject To Contingencies | CRMLS_CA | $6,400,000 |
