423 Ocean Avenue
$16,000,000, 28 Beds 18 Baths 17,900 Sqft .52 Acres 15 Garages
About This Property
423 Ocean is a generational opportunity to acquire a vacant 16-unit apartment building with underlying entitlements for 12 condominium units located on prime Ocean Avenue, north of Montana Avenue, in the City of Santa Monica. The existing apartment units have been vacated pursuant to the Ellis Act in anticipation of building the condominium project. A future Buyer will have the option of rehabbing the existing units and re-leasing them at current market rents (subject to rent control going forward) or executing the approved condominium development plan. The existing buildings are designated historical landmarks, which have been incorporated into the future development plan.
Ocean View, Panoramic View, Park Or Green Belt View, Water View, Bluff
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Listing information last updated on February 15th, 2019 at 10:00pm PST.