631 Pier Avenue,Santa Monica, CA 90405
Santa Monica, CA 90405
Description
Seller Financing available! Seller may consider carrying a 1st TD at 5.5% interest only, no prepayment penalty for 5 years, with 30%+ down for qualified buyers. 631 Pier Ave presents a rare opportunity to acquire a thoughtfully maintained split-level four-unit property in the heart of Santa Monica's coveted Ocean Park neighborhood. The property features an attractive unit mix of two 2-bedroom units, one 1-bedroom unit, and one studio unit, currently generating approximately $201,000 in annual gross income while offering additional upside through future rental growth. Originally built in 1961 and carefully improved over the years, the property includes mini split A/C systems throughout all units, updated decking, refreshed interiors, new flooring, upgraded finishes, and the rare convenience of four private garages with additional off-street parking, an increasingly hard-to-find amenity in Santa Monica's coastal neighborhoods. Several units feature abundant natural light, open layouts, private outdoor spaces, and seamless indoor-outdoor living, while the split-level design adds architectural character and a unique sense of separation and flow throughout the property. Beyond the investment fundamentals, the property offers a uniquely serene atmosphere framed by mature landscaping cultivated over decades of ownership, including towering palm trees, lush podocarpus greenery, vibrant bougainvillea, mature fig vines, and a beautiful pomegranate tree woven throughout the hillside gardens. Tucked behind greenery and moments from Main Street, Rose Avenue, Abbot Kinney, Lincoln Blvd, and the beach, 631 Pier Ave offers a rare blend of stable income, lifestyle appeal, and long-term appreciation potential in one of Los Angeles' most desirable rental markets. Subject to Santa Monica rent control, the property offers stable in-place tenancy. Seller may consider carrying a first trust deed for qualified buyers, creating a rare financing opportunity in today's market.
Details
| MLS # | 26837951 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1961 |
| Days On Site | 137 |
| Listing Provided By | Pardee Properties | Josh Flynn |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 2,850 |
| Garage | 4 |
| Story(s) | 1 |
| Units | 4 |
| Building(s) | 1 |
| Zoning | SMOP2* |
| Acreage | 0.13 |
| Property View | Yes |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Dishwasher, Disposal, Microwave, Oven, Range, Refrigerator, Range Hood, Dryer, Washer |
| Fireplace Yes / No | No |
Exterior
| Construction Materials | Other |
|---|---|
| Lot Features | Landscaped, Yard |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | Controlled Entrance, Driveway, Garage, Garage Door Opener, Uncovered |
| Garage Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90405 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90405) | |
Price: $2,995,000 low | high Med: $3,189,000 sqft: 2,850 low | high Med: 6,019 $ / sqft: $1,051 low | high Med: $531 On site: 137 low | high Med: 57.5 | |
Market Activity 90405
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90405 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90405) | |
Price: $2,995,000 low | high Med: $3,189,000 sqft: 2,850 low | high Med: 6,019 $ / sqft: $1,051 low | high Med: $531 On site: 137 low | high Med: 57.5 | |
