Listings / 1124 7TH STREET

1124 7TH STREET 1124 7th Street, Santa Monica, CA 90403

Price $2,550,000

Price Per SF $339

Units 4

Price Per Unit $637,500

Gross Sq. Footage 7,000 SF

Year Built 2021

Status available

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PROPERTY OVERVIEW

The subject property is a historical home with potential to rehabilitate the existing cottage on the property and add 3 units as per plans. The comparables used to evaluate the property are recent townhome sales in the area. The comparable with the most effective data to project a value is 954-956 A-C 5th St. This property had development potential at time of sale, the existing historical home on the property was rehabilitated and the developer added 3 additional units all approximately the same size as our subject property’s architectural assumptions. Original purchase for development 5/22/2014 for $2,050,000, along with a hard money loan for $1,537,500.