FOR SALE Premier Multifamily Property in Santa Monica Ocean View Living Most Desirable Residential Location in Santa Monica: Ocean Ave
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FOR SALE Premier Multifamily Property in Santa Monica Ocean View Living Most Desirable Residential Location in Santa Monica: Ocean Ave. at San Vicente Blvd. Completely Rebuilt in 2017 Beach Club Annenberg Community Beach House Pacific Coast Highway Palisades Beach Club Palisades Park Ocean Ave. San Vicente Blvd. Georgina Ave. Laurie Lustig-Bower | Executive Vice President Kamran Paydar | First Vice President Call to Schedule a Tour: Lic. 00979360 Lic. 01242590 (310) 550-2529 Tel. 310.550.2556 Tel. 310.550.2529 [email protected] [email protected] www.301oceanSM.com Click Here to View Two Property Videos Los Angeles International Airport High End Restaurants South View in Santa Monica Include: Marina Del Rey Blue Plate Oysterette Venice Beach BOA Steakhouse Silicon Beach Cassia Hotel Casa del Mar Chinois on Main FIG Le Méridien Delfina Forma Restaurant & Cheese Bar Viceroy Shutters on the Beach Hillstone Mélisse Wyndham Loews Santa Monica Pier Michael’s Rustic Canyon JW Marriott Santa Monica Le Merigot Fairmont Miramar SUGARFISH by sushi Nozawa The Huntley Tar & Roses Downtown Santa Monica The Lobster Wilshire Blvd. The Penthouse Oceana Water Grill 3rd St. Promenade Jonathan Beach Club Montana Ave. Palisades Park Ocean Ave. Annenberg Community Beach House 4th St. Georgina Ave. Beach Club San Vicente Blvd. Pacific Coast Highway © 2021 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service 301marks OCEAN of CBRE, AVE., Inc. All SANTA other marks MONICA, displayed CA on 90402this document are the property of their respective owners, and the use of such logos does not imply any affiliation2. with or endorsement of CBRE. North View Malibu Getty Villa Pacific Coast Highway Pacific Palisades Beach Club Palisades Beach Club Annenberg Community Beach House San Vicente Blvd. Palisades Beach Georgina Ave. Ocean Ave. Santa Monica Palisades Park 301 OCEAN AVE., SANTA MONICA, CA 90402 3. East View Century City Downtown Los Angeles Bel Air West Los Angeles Beverly Hills UCLA Westwood Brentwood Santa Monica Montana Ave. San Vicente Blvd. Palisades Park Georgina Ave. Ocean Ave. 301 OCEAN AVE., SANTA MONICA, CA 90402 4. Georgina Ave. Ocean Ave. San Vicente Blvd. 5. 301 OCEAN AVE., SANTA MONICA, CA 90402 Executive Summary 301 OCEAN AVE., SANTA MONICA, CA 90402 6. Property Overview 301 OCEAN AVE., SANTA MONICA, CA 90402 7. 301 OCEAN AVE., SANTA MONICA, CA 90402 8. PACIFIC OCEAN 301 OCEAN AVE., SANTA MONICA, CA 90402 9. 301 Ocean Ave. Table of Contents 1. Executive Summary p.15 2. Property Overview p.18 3. Financial Analysis p.58 4. Area Overview p.64 Call to Schedule a Tour: (310) 550-2529 www.301oceanSM.com Laurie Lustig-Bower Executive Vice President Lic. 00979360 Tel.310.550.2556 [email protected] Kamran Paydar First Vice President Lic. 01242590 Tel.310.550.2529 [email protected] 10. 301 OCEAN AVE., SANTA MONICA, CA 90402 11. 301 OCEAN AVE., SANTA MONICA, CA 90402 12. 301 OCEAN AVE., SANTA MONICA, CA 90402 13. 301 OCEAN AVE., SANTA MONICA, CA 90402 14. Executive Summary Click Here to View Two Property Videos Prime. SaMo. Life. A tranquil resort feel in a spectacular coastal setting CBRE, Inc., as exclusive agent, is pleased to present a generational opportunity to acquire a premier, luxury 38- unit apartment building located in one of the most desirable communities in the United States, in the exclusive north of Montana Avenue neighborhood on famed Ocean Avenue in Santa Monica, California. 301 OCEAN AVE., SANTA MONICA, CA 90402 15. Executive Summary 301 Ocean Avenue is a Trophy Property Without Equal: Avg Avg → On the bluff at the northern end of Ocean Avenue Unit Type Units Rentable Outdoor SF SF → Tranquil resort feel in a spectacular coastal setting Studio 10 387 163 → All 1-bedroom and 2-bedroom units have spectacular ocean views → Spacious luxury units with seamless indoor/outdoor living 1BD / 1BA 8 916 375 → Rich array of common area amenities → Lush landscaping 1BD / 1.5BA 2 947 650 → Rental income upside potential The Property was renovated in 2017, completely rebuilt inside and out. 2BD / 1BA 3 947 250 Floor plans include studio, 1-bedroom, 2-bedroom and 18 penthouse units with private rooftop terraces, of which 9 are 2-story townhouse units. 2BD / 1.5 BA 2 942 300 All 1-bedroom and 2-bedroom units have views overlooking Santa Monica Beach and Palisades Park. The Property easily accesses Santa Monica’s 2 BD / 2 BA 4 1,156 350 shopping, dining, entertainment and outdoor recreation venues. Local key 2 BD / 2BA employers, Silicon Beach companies, and West Los Angeles employers are Townhouse 9 1,269 600 in proximity to the Property. 2-story 301 Ocean Avenue is presented to the market unpriced. Total 38 891 371 Offers are due on Thursday, May 27, 2021 by 5:00 PM 301 OCEAN AVE., SANTA MONICA, CA 90402 16. Executive Summary Investment Highlights → Premier coastal “north of Montana” bluff location → All 1-bedroom and 2-bedroom units have spectacular ocean views → Fully renovated, beautifully maintained luxury building → Garden style low density living → Full rent collections with no deferrals or delinquencies → Best-in-class common area amenities → Close to Santa Monica dining, shopping, cultural and entertainment venues → Proximate to Silicon Beach and West LA employers → Upscale neighborhood with many home values at $5-$12 million Median Home Value Within ¼ mile is $1,909,483 301 OCEAN AVE., SANTA MONICA, CA 90402 17. 301 Ocean Ave. 301 OCEAN AVE., SANTA MONICA, CA 90402 Click Here to View 18.Two Property Overview Property Videos 301 OCEAN AVE., SANTA MONICA, CA 90402 19. Property Overview 301 OCEAN AVE., SANTA MONICA, CA 90402 20. Property Overview Property Address: 301 Ocean Ave. Santa Monica, CA 90402 # of Units: 38 Year Built: 1952 (completely rebuilt in 2017) Land Area: 43,721 SF Total Building Area: 37,989 SF Average Unit Size: 891 SF Average Private Outdoor Size: 371 SF Assessor Number: 4293-003-021 Parking: 50 Parking Spaces Building A 3 private garages 30 gated-access underground spaces Building B 17 private garages Utilities: Tenants pay for Electrical. Landlord pays for Water (residential and fire), Trash/ Sewer, Electric for the house meter (common areas), Gas for the boilers and fire pit 21. 301 OCEAN AVE., SANTA MONICA, CA 90402 Property Overview Avg Avg Unit Type Units Outdoor Rentable SF SF Studio 10 387 163 1BD / 1BA 8 916 375 1BD / 1.5BA 2 947 650 2BD / 1BA 3 947 250 2BD / 1.5 BA 2 942 300 2 BD / 2 BA 4 1,156 350 2 BD / 2BA 9 1,269 600 Townhouse 2-Story Total 38 891 371 301 OCEAN AVE., SANTA MONICA, CA 90402 22. Property Overview UNIT DESCRIPTION SUMMARY 18 PENTHOUSES All have private ocean view rooftop garden terraces and semi private garages below. Avg Avg # of Units Unit Type Rentable Outdoor Unit # SF SF 202, 203 6 1 BD / 1 BA PH 910 435 204, 206 207, 302 2 1 BD / 1.5 BA PH 930 650 301, 205 1 2 BD / 2 BA PH 1188 500 201 2 BD / 2 BA PH 9 2-story 1268 600 214 - 222 Townhouse 18 20 NON-PENTHOUSES Avg Avg # of Units Unit Type Rentable Outdoor Unit # SF SF 108-111 Garden 9 383 155 114 Studio 208-211 Ocean View 1 489 250 105 Studio 2 1 BD / 1BA 935 200 106, 107 104, 113 3 2 BD / 1 BA 947 250 213 2 2 BD / 1.5 BA 942 300 102, 103 101, 112 3 2 BD / 2BA 1145 300 212 20 TOTAL 38 891 371 301 OCEAN AVE., SANTA MONICA, CA 90402 23. Property Overview Common Area Amenities Include → Controlled access, → Lush landscaping gated community → Zen rain fountain → 24-hour doorman/ security and concierge → Fire pit outdoor lounge services → BBQ grill station → Secured garage parking → Wi-Fi → Elegant garden courtyard with myriad → Bike racks lounge seating areas → Courtyard restroom → Yoga/personal trainer studio → Trash valet → State-of-the art → Dry cleaning valet Woodway treadmills service and Technogym equipment → Business center with video conferencing 301 OCEAN AVE., SANTA MONICA, CA 90402 24. Property Overview 301 OCEAN AVE., SANTA MONICA, CA 90402 25. Property Overview 301 OCEAN AVE., SANTA MONICA, CA 90402 26. Property Overview 301 OCEAN AVE., SANTA MONICA, CA 90402 27. Property Overview Fitness Center with state-of-the art Woodway treadmills and Technogym equipment. 301 OCEAN AVE., SANTA MONICA, CA 90402 28. Property Overview Unit Features Include → Private rooftop decks with → Free-standing soaking tubs** Tucci umbrellas and Jscott → Glass enclosed walk-in * architectural planters rainfall showers → All 1-bedroom and → Central heating and 2-bedroom units have air conditioning (Nest spectacular ocean views thermostat in most units) → Units have oversized private → Designer lighting patios or balconies or roof top decks → Vented kitchen hood → Stainless steel balcony → Fiber optic high speed railings to maximize ocean wi-fi connection views → Dish satellite connection → Floor-to-ceiling accordion option bi-fold terrace glass doors → Custom California Closets → In-unit washer/dryer (unit specific) → Stainless steel appliances: → Bamboo flooring range, refrigerator, (unit specific) microwave, dishwasher → Custom cabinetry in kitchens and bathrooms *Penthouse Units **Penthouses and Townhouse Units 301 OCEAN AVE., SANTA MONICA, CA 90402 29. San Vicente Blvd. Ocean Ave. 301 OCEAN AVE., SANTA MONICA, CA 90402 30. Property Overview 301 OCEAN AVE., SANTA MONICA, CA 90402 31. Property Overview 301 OCEAN AVE., SANTA MONICA, CA 90402 32.