1530 Harvard St, Santa Monica, California, United States

Report Listing

Home For Sale

$3,290,000

1530 Harvard St
Santa Monica, California, United States

16bd 13ba

Listed By: Realtyww Info

Listed On: 09/11/2024

Listing ID: GL11239652 View More Details

Description

We are pleased to offer for sale an incredibly unique multifamily asset located at 1530 Harvard Street in the heart of LA's famed beach city of Santa Monica. The offering presents the ultimate opportunity for an owner-user to make it their own and create a one of a kind 2-story luxury unit in a 6 unit building. There is no doubt that this offering is the quintessential owner-user opportunity seldom available to be purchased on the Westside. Originally built in1961, the building boasts an ideal unit mix consisting of large 2 and 6-bedroom (after completion of owner's unit) floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light. The sale comes with City of Santa Monica stamped plans and permits for the remodeling of unit 1 into a 6-bedroom, 5-bathroom unit. The fully approved unit, once constructed, will have a total of 2, 639 square feet of livable space and an additional 427 SQFT for a private garage (total square feet will be 3, 066 SQFT). The current unit has been taken down to the studs and presents a turnkey renovation project for a Buyer looking to create a beautiful home while receiving substantial income from the 5 other apartment units. From an investment perspective, the property has an incredible unit mix consisting of one 6+5 unit (after completion of the owner's unit), two 2+1 units, and three 2+2 units. There is also significant rental upside, ample on-site parking (soft story retrofit has been completed), all copper plumbing, a newer roof, as well as an on-site laundry facility. Several of the units have been upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances, quartz countertops, and recessed lighting. A quick stroll to high-end dining, the Bergamot Station Arts Center, and entertainment venues, the property will enable an owner-user to create their private sanctuary while also being situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and the ability to start renovating right upon the close of escrow, 1530 Harvard Street gives buyers the unique opportunity to own a generational asset in one of LA's most prized and coveted locations.

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Listed by: Jonathan Taksa