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The Santa Monica Income Market is on fire! Properties are gone with…

Posted on Jul 22, 2014 by in Active Rain | 0 comments

The Santa Monica Income Market is on fire!Properties are in Escrow within days!

The investors are swarming on income properties in Santa Monica, Especially those properties, that are close to the beach and need some work are in high demand.

I have noticed that there are some listing agents who must know some of the property owners, since they are not in the West Side Multiple Listing Service they are just reciprocal and have out of area contact information such as telephone numbers. This I do not begrudge, it is simply a matter of relationships.

I am still a firm believer as hot as the market is we should have photography and description which enhance the property. To some of you who read my post might find these pictures entertaining….I personally find this offensive and disrespectful to the potential buyers, their agents as well as the seller they are representing.

Keep in mind this income property is listed at $1,800,000.00. Would you have done something differently than this listing agent? Let me know where I am going wrong. Please focus on not just the description but the photos as well. 

 

STATUS:  Active ADDRESS:  2438 5th Street , Santa Monica ,CA 90405 LP:  $1,800,000

 Add’l Photos
   

RESIDENTIAL INCOME DOM/CDOM: 3/3 AREA: (14) Santa Monica MLS#: WS14154640MR LD: 07/18/2014
APN:  4287-007-031 ADP:  STYLE:  MAP:  SP: 
NUM UNITS: 3 APX LSZ:  6,032 POOL: No CVD PKG:  SD: 
SUB:  APX SF: 3,055 APX LDM:  TRASH:  $0 NUM PKG: 5
YB: 1923 GI:  GRM:  SCHED/ACT:  WATER:  $0
RC:  GOI:  CAP:  TAXES:  VAC: 
CONST:  AOE:  INS:  $0 GRDN:  MGMNT: 
NUM STO:  ATE:  ELEC:  $0 MAINT:  POOL EXP: 
ZONE:  NOI: $0 GAS:  $0 MGR:  ELEV: 
ASSED IMP VAL:  ASSED TOT VAL:  ASSED LND VAL:  LT: ERS/L

Type Number of Units Bedrooms Baths Furnished(y/n) Revenue
Unit 1 1 3 1.00   $0
Unit 2 1 2 1.00   $0
Unit 3 1 2 2.00   $0

DIRECTIONS: West of Lincoln, North of Oceanpark
REMARKS: Location location location! 3 Santa Monica units to be delivered vacant. 5 blocks from the water. Ocean park area, Main Street shops and entertainment walking distance. Total of 7 bedrooms, with 2 upstairs lofts, 3 car garage. Needs some TLC.  

 

Now if you are looking for proper representation selling or buying income properties, please reach out to me directly

 

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

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