301 Ashland Avenue

Santa Monica, CA 90405

$6,695,000
Price
13
Beds
11
Baths
7,424 Sq. Ft.
$902 / Sq. Ft.
7,424
Sq. Ft.
$902
per Sq. Ft.

Description

ASSUMABLE FINANCING of approximately $3,800,000 @ 3.3% per annum for approx. 7.5 years, amortized over 30 years. Listed at $400,000 below the last sale. Exceptional 9-unit apartment building just 3 blocks to the beach. Seven of the nine units have been significantly renovated, including central heat/air, in-unit washers/dryers, appliances, kitchen and bathroom remodels, and contemporary flooring. Extensive exterior restoration including landscaping, all new windows, smooth re-stucco, hardware, front...ASSUMABLE FINANCING of approximately $3,800,000 @ 3.3% per annum for approx. 7.5 years, amortized over 30 years. Listed at $400,000 below the last sale. Exceptional 9-unit apartment building just 3 blocks to the beach. Seven of the nine units have been significantly renovated, including central heat/air, in-unit washers/dryers, appliances, kitchen and bathroom remodels, and contemporary flooring. Extensive exterior restoration including landscaping, all new windows, smooth re-stucco, hardware, front doors, handrails, new concrete parking surfaces, new electrical panel and meters, and much more. Unit mix features five 1-bedroom units and four 2 bedrooms, 2 bath units, 2 of the units having a penthouse like feeling with private ocean view decks. There are two long-time tenants paying a miniscule of their market-value. Current ownership has NOT offered these two tenants cash for keys. 16 off-street parking spaces.
  1. Listed by Peter V Buonocore • DRE #01279107 • Brokerage DRE #01364089 • Keller Williams Larchmont
  2. Listed by Lane Aronson • DRE #00681193 • Brokerage DRE #00625377 • Berkshire Hathaway HomeServices California Propert

Property Details for 301 Ashland Avenue

Zoning
SMOP2*
Parcel Number
4287022017
Total Units
9.0
Living Area
7424
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
0
Lot Size Area
7729
LISTING UPDATED: 09/24/2024 04:38 PM

Property Details for 301 Ashland Avenue

StatusActive
MLS #24-420295
Days on Market145
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.18 AC / 7,729 SF
CountyLos Angeles County

Building

301 Ashland Ave

3 StoriesBuilt in 1960

Building Information for 301 Ashland Avenue

Stories3Residences-Year Built1960Building Size-Lot Size0.18 AC / 7,729 SF

Property Information for 301 Ashland Avenue

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $382,911
  • Net Operating Income: $264,631.00
  • Gross Income: $394,752
  • Cap Rate: 3.95%
  • Gross Rent Multiplier: $16.97
  • Total Annual Expense: 118280
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1774
  • Lot Size Square Feet: 7729
Parking Details
Parking Details
  • Parking Garage: Carport, Carport Attached, Driveway, Tandem, Offsite, Uncovered
  • Total Parking: 15
  • Parking Features: Carport, Attached Carport, Driveway, Tandem Garage, Off Site, Uncovered
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Central Air
  • Cooling Type: Air Conditioning, Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Dishwasher, Dryer, Washer, Range/Oven, Refrigerator
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-29-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,995.00
  • Unit Actual Rent: $4,995.00
  • Unit Projected Rent: $5,600.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $682.00
  • Unit Actual Rent: $682.00
  • Unit Projected Rent: $3,950.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $710.00
  • Unit Actual Rent: $710.00
  • Unit Projected Rent: $3,950.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,170.00
  • Unit Actual Rent: $4,170.00
  • Unit Projected Rent: $5,600.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,995.00
  • Unit Actual Rent: $4,995.00
  • Unit Projected Rent: $5,600.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,495.00
  • Unit Actual Rent: $3,495.00
  • Unit Projected Rent: $3,950.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $4,387.00
  • Unit Actual Rent: $4,387.00
  • Unit Projected Rent: $4,800.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,487.00
  • Unit Actual Rent: $3,487.00
  • Unit Projected Rent: $3,950.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $5,975.00
  • Unit Actual Rent: $5,795.00
  • Unit Projected Rent: $6,250.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,172,600.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $5,069,400.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $7,242,000.00

Property History for 301 Ashland Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 301 Ashland Avenue

Taxable ValueLand$5,170,788Additions$2,217,152Total$7,387,940
Tax Record2024$87,117 ($7,260 / month)
Home Facts
Total Finished SqFt7,424 SqFtAbove Grade Finished SqFt7,424 SqFtLot Size7,727 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningSMOP2*CountyLOS ANGELESAPN4287-022-017

Schools near 301 Ashland Avenue

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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Similar Sold Homes

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301 Ashland Avenue is a multi-family home for sale in Santa Monica, CA 90405. This property was listed for sale on July 29, 2024 by Keller Williams Larchmont, it's currently listed at $6,695,000. It has been on the market for a total of 145 days and was last sold on February 28, 2022. 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. 301 Ashland Avenue is a 13-bed, 11-bath, 7,424 sqft multi-family home built in 1960.

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 Keller Williams Larchmont, Peter V Buonocore, DRE #01279107; Berkshire Hathaway HomeServices California Propert, Lane Aronson, DRE #00681193

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.