Property Photo: 2626 Cloverfield Boulevard CA 90405

Listing Courtesy of: CRMLS / Global Platinum Properties, Inc. / Armin Soleimani

2626 Cloverfield Boulevard Santa Monica, CA 90405

Active (71 Days)

$4,995,000

BED

BATH

5,948

SQFT

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Description

Huge 650k Price Reduction! 12 Unit building with 10 fully renovated units in Prime Santa Monica cash flowing at an incredible Current Cap Rate of 5.8% and 12.6 GRM from day 1! Priced at only 416k/door for renovated units with an amazing upside to 6.7% Cap Rate and 11.2 GRM on the proforma. Delivered with 10 fully renovated units with permits including 8 remodeled units plus 2 brand-new attached ADUs. These units have been completely renovated with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. Notably, there are preliminary plans for 6 additional detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The property is located in the heart of Santa Monica just minutes away from the Beach and within close proximity to Santa Monica Business Park as well as hip neighborhood attractions, restaurants, bars, and shops such as Layla Bagels, Local Kitchen & Wine Bar, Estate Coffee, and many more popping up all around the area.

MLS #:
25477031

Lot Size
6,046 SQFT

Type
Multifamily

Year Built
1966

County
Los Angeles County

Listed By

Armin Soleimani, Global Platinum Properties, Inc.

Source
CRMLS
Last checked May 9 2025 at 3:18 PM PDT

Bathroom Details

Interior Features

Refrigerator

Heating and Cooling

Wall Furnace

Parking

Uncovered

Stories

Living Area

5,948 sqft

Location

Map View | Street View

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Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. 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. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.