2633 Centinela Avenue is amulti-family property for lease in Santa Monica, CA.
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Condor Commercial is pleased to present this unique opportunity to acquire a 12 Unit Multi Family investment property in beautiful Santa Monica - one of the last apartment buildings converted into condominiums where none of the units has been individually sold yet.
An investor can either continue to operate the property as a Multi Family investment or complete the last remaining items to sell the units off individually. Each unit has its own Assessors Parcel Number and is ideally positioned to sell. The building is comprised of 8 one bedroom, one bath units and 4 two bedroom, two bath units. Several of the rents are under market, which allows a new investor to capture significant upside, and some of the units have been updated and modernized.
The property is located in the beautiful Sunset Park area of Santa Monica, near trendy Ocean Park Blvd. It is a stone's throw from the Santa Monica Pier and Venice Beach. With its close proximity to the 10 Freeway, Third Street Promenade and Ocean Park Business Center, it is well situated for both renters and condominium owners alike who work on the Westside. Moreover, it is centrally located for students who attend UCLA and SMC.
Sunset Park is part of the Santa Monica-Malibu Unified School District. The property is in close proximity to Clover Park, a large park with recreation facilities that many locals frequent. The neighborhood is represented by the Friends of Sunset Park association.
The building' s location offers an investor the opportunity to capitalize in the future on the substantial upside in rents. Its close proximity to the beach, several upscale restaurants and entertainment venues makes this area one of the most desirable and densely populated sub-markets in Los Angeles with vacancy levels averaging three percent. Santa Monica has always enjoyed a high level of demand, and is poised to remain so throughout the future.
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- Scott Warner, agent and Rofo Pro