101 Strand Street

Santa Monica, CA 90405

$5,595,000
Price
9
Beds
9
Baths
5,728 Sq. Ft.
$977 / Sq. Ft.
5,728
Sq. Ft.
$977
per Sq. Ft.

Description

101 - 103 Strand Street is a prime OCEAN FRONT Santa Monica Beach Location! A rare opportunity for an Owner User to live at the beach with Ocean Views and have rental income. Seller Financing up to 80% for 2 Years for qualified buyer. There are no comparable multifamily buildings this close to the beach with Ocean Views that have sold and few comparable rentals. Condo sales in the area that are even close to this location have a comparable average of $1245 Per Sq Ft plus homeowners dues averaging...101 - 103 Strand Street is a prime OCEAN FRONT Santa Monica Beach Location! A rare opportunity for an Owner User to live at the beach with Ocean Views and have rental income. Seller Financing up to 80% for 2 Years for qualified buyer. There are no comparable multifamily buildings this close to the beach with Ocean Views that have sold and few comparable rentals. Condo sales in the area that are even close to this location have a comparable average of $1245 Per Sq Ft plus homeowners dues averaging $1587. OWNER'S UNIT: Upstairs 2 Bedrooms & 2 Baths. Ocean Front Views from both Bedrooms & Front Patio. Real hardwood floors throughout. Tiled flooring and granite counter tops in kitchen and bathrooms. Dual paned windows. Stack washer/dryer & lots of closet space. Copper Plumbing. 3 of the 7 units have laundry in the units, the other units have space to add stack washer/dryers and there is a laundry room on site with machines that are owned. This rare 7 unit apartment building directly across from the beach on Ocean Avenue boasts stunning Ocean views, Sunsets and sits just above the sandy shores of Santa Monica Beach. Live the experience of beachfront living. Get right onto the beach bike path or walk to Main Street with great restaurants and shopping. Please do not disturb tenants.
  1. Listed by Francyne Lambert • DRE #00827267 • Brokerage DRE #00860625 • Lambert Investments, Inc.

Property Details for 101 Strand Street

Zoning
SMOP3*
Parcel Number
4289022006
Total Units
7.0
Living Area
5728
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
1
Lot Size Area
5173
LISTING UPDATED: 11/25/2024 02:19 PM

Property Details for 101 Strand Street

StatusActive
MLS #24-462503
Days on Market37
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.12 AC / 5,173 SF
CountyLos Angeles County

Building Information for 101 Strand Street

Stories2Residences-Year Built1955Building Size-Lot Size0.12 AC / 5,173 SF

Property Information for 101 Strand Street

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $309,246
  • Net Operating Income: $222,608.00
  • Gross Income: $309,246
  • Cap Rate: 4.00%
  • Gross Rent Multiplier: $18.09
  • Financial Info as Of: 11/22/2024
  • Total Annual Expense: 19498
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1188
  • Lot Size Square Feet: 5173
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 7
  • Open Other Spaces Total: 5
  • Garage Spaces Total: 2
  • Parking Features: None
  • Garage Structures Total: 1.0
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating Type: Other
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-11-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,905.90
  • Unit Actual Rent: $14,530.00
  • Unit Projected Rent: $17,500.00
  • Like Units: 5
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $5,583.00
  • Unit Actual Rent: $11,116.00
  • Unit Projected Rent: $12,500.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,108,281.00
  • Assessed Improvement Percent: 25.0
  • Assessed Land Value: $3,324,854.00
  • Assessed Land Percent: 75
  • Assessed Total Value: $4,433,135.00

Property History for 101 Strand Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 101 Strand Street

Taxable ValueLand$3,391,351Additions$1,132,166Total$4,523,517
Tax Record2024$53,801 ($4,483 / month)
Home Facts
Total Finished SqFt5,728 SqFtAbove Grade Finished SqFt5,728 SqFtLot Size5,179 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningSMOP3*CountyLOS ANGELESAPN4289-022-006

Schools near 101 Strand Street

This home is within Santa Monica-Malibu Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 8
Rating
School
Distance
John Muir Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Santa Monica Alternative (K-8) School
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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101 Strand Street is a multi-family home for sale in Santa Monica, CA 90405. This property was listed for sale on November 11, 2024 by Lambert Investments, Inc., it's currently listed at $5,595,000. It has been on the market for a total of 37 days and was last sold on January 6, 2011. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include John Muir Elementary School, John Adams Middle School and Santa Monica High School. 101 Strand Street is a 9-bed, 9-bath, 5,728 sqft multi-family home built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lambert Investments, Inc., Francyne Lambert, DRE #00827267

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.