1047 Ocean Park Blvd Santa Monica, CA 90405
Sunset Park NeighborhoodEstimated payment $18,757/month
About This Home
** SELLER FINANCING of $1,700,000 at a 4.52% Rate Available through 2032 (7 full years at 60% LTV)** 1047 Ocean Park Blvd is a 5,296-square-foot, seven-unit apartment building situated on a 6,617-square-foot corner lot, just east of Lincoln Blvd and less than a mile from the ocean. The property features a mix of five 2- bedroom/1-bathroom units, including one townhouse, and two large studio units. It also provides a total of ten parking spaces, offering convenience and accessibility for tenants.The property has undergone significant upgrades in recent years. Select units have been updated with maple and laminate flooring, and the building was retrofitted within the last two years. Foundational work was completed in 2023, while a new concrete driveway was paved in November 2022. This property offers strong rental upside with a pro-forma cap rate of 6.51% and a pro-forma GRM of 10.97. Its prime Santa Monica location combined with its recent improvements and competitive financing options, this property is a great investment opportunity with room for growth.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1947
Lot Details
- 6,619 Sq Ft Lot
Interior Spaces
- 7 Bathrooms
- 5,296 Sq Ft Home
- 2-Story Property
- Oven or Range
Parking
- 10 Parking Spaces
- Carport
Community Details
- 7 Units
Listing and Financial Details
- Assessor Parcel Number 4284-009-001
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/05/2025 03/05/25 | For Sale | $2,850,000 | 0.0% | $538 / Sq Ft |
| 03/04/2025 03/04/25 | Off Market | $2,850,000 | -- | -- |
| 01/28/2025 01/28/25 | For Sale | $2,850,000 | -- | $538 / Sq Ft |
Source: The MLS
MLS Number: 25-489977
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