1824 MICHIGAN AVE, SANTA MONICA, CA 90404

Property Description

1824 Michigan Ave is a seven-unit property comprised of two separate structures situated on an over 16,000 SF lot in the heart of Santa Monica. The asset is ideally located minutes from Santa Monica College, the 10 Freeway, Downtown Santa Monica, and major tourist attractions. The property is comprised of a 3BR/2BA single-family residence that will be delivered vacant, along with a separate six-unit apartment structure. A compelling value-add opportunity exists through the completion of two ADUs, with plans and permits fully approved and paid for, and the structural framework already in place allowing a new owner to immediately capitalize on increased density and rental income with minimal entitlement risk. The unit mix on the six unit building is: One Single, One 1BR, 1BA, Four 2BR, 1BA. The Two approved ADU’s that the owner has already began work on are a 2BR 1BA, and a 3BR, 2.5BA.