Amenities include a heated pool with lounge and outdoor kitchen, rooftop deck, and subterranean parking for 33 vehicles
A 28-unit apartment building at 901 Ocean Ave. in Santa Monica has been listed for sale at $29.4 million, or about $1.05 million per unit, with a reported 4.4% cap rate.
The three-story courtyard-style property, built in 1961 and renovated in 2015 and 2021-2022, spans 30,954 square feet on a 0.34-acre lot. It includes 18 one-bedroom units and 10 two-bedroom, two-bath units, many with balconies offering ocean views.
Amenities include a heated pool with lounge and outdoor kitchen, rooftop deck, subterranean parking for 33 vehicles (including four EV charging stations), elevators, on-site laundry per floor, solar panels and controlled access.
Located on Ocean Avenue’s “Golden Mile” in the Wilshire-Montana neighborhood, the building sits across from a beach access path and one block from Montana Avenue’s shops and cafes. Proximity to Santa Monica Pier, Third Street Promenade and Palisades Park is highlighted in marketing materials.
The zoning is SMR3 for restricted-density multiple dwellings.
The property, represented by Nancy Bush and Michael McKinney of Lyon Stahl Investment Real Estate, can be seen at https://www.loopnet.com/Listing/901-Ocean-Ave-Santa-Monica-CA/36635151/
