1336 Franklin St
Santa Monica, CA 90404

Residential (Other)

0.18 Acres
5132 Sqft Living Area

10 Bedrooms

0 Bathrooms (0 Full, 0 Half)

Year Built: 1939

$2,960,000

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Property Description

1336 Franklin Street is a six (6) unit investment asset in Prime Santa Monica. The property consists of four (4) 2BD/1BA units and two (2) 1 BD/1BA units. Three (3) of the units may be delivered VACANT. Onsite laundry facilities and eight (8) storage spaces provide additional income. Three (3) garages offer the potential for ADU conversion. The property is ideally located in the center of highly desirable Santa Monica. A plethora of world class entertainment, media and technology companies are located within just a one-mile radius, including Hulu, Riot Games, Snapchat and Oracle. EXTREMELY WALKABLE LOCATION. With a Walk Score of 92, the property provides easy, walkable access to all amenities for daily errands and Water Gardens. The building is just blocks from Whole Foods Market, coffee shops, world class restaurants, retail and outdoor recreation areas. WELL-PRICED OWNER/USER OPPORTUNITY. Priced at 4.5% cap rate and 14.6 GRM on current income, this property provides a new buyer with an excellent value-add opportunity for future rent growth and appreciation. INVESTMENT HIGHLIGHTS. Prime Santa Monica Location (4) 2BD/1BA Units and (2) 1BD/1BA Units with On-Site Laundry, Storage and (4) Garages with (3) Units Delivered Vacant and 4.5% Cap Rate with Current Income Priced at Only 14.6 x Gross.