4 UNIT CONDO DEVELOPMENT OPPORTUNITY 1124 7th Street Santa Monica, CA OFFERING MEMORANDUM 1 ™ EXCLUSIVELY LISTED BY J. A. CHARLES WRIGHT Senior Associate D: (310) 295-4374 M: (626) 290-5965 E:
[email protected] License No. 01985584 (CA) 1124 7th Street Santa Monica, CA E 4 SALES COMPARABLES 7 PROPERTY OVERVIEW 8 FINANCIAL OVERVIEW 10 LOCATION OVERVIEW Sales Comparables 4 954 5TH ST, SANTA MONICA, CA 90403 Address Price Lot Area Land Cost Per S.F. Zoning Notes Historical Single-Family Residential currently 1124 7th Street $2,550,000 7,511 S.F. $332.85 SMR2 resides on property Historical Single-Family Residential Sold on 954 5th St, Santa Monica, CA $2,050,000 7,484 S.F. $273.91 SMR2 1 5/22/2014 for $2,050,000 1 0.2 MILES 5 CONDOMINIUM SALES COMPARABLES OF 954/956 5TH ST Address Sale Price SqFt Price Per SF Year Built Mix Notes Status 1 954 5th St. Santa Monica $2,450,000 1,500 1,633.33 1908/2018 3BR/3.5BA Historical Cottage Sold 2 956 5th St.,#A Santa Monica $2,298,000 1,660 1,384.34 2018 3BR/3BA Townhome Under-Contract 3 956 5th St.,#B Santa Monica $2,200,000 1,660 1,325.30 2018 3BR/3BA Townhome Sold 4 956 5th St.,#C Santa Monica $2,298,000 1,770 1,298.31 2018 3BR/3BA Townhome Under-Contract Averages 1,647 1,410.32 2 1 3 4 6 6TH ST WILSHIRE BLVD 7TH ST 7 CONDO OPTIONS PROPERTY OVERVIEW 05/10/2018 4 OPTION A The subject property is a historical home with potential to rehabilitate the 3 2 1 existing cottage on the property and add 3 units as per plans.