2041 Cloverfield Boulevard

2041 Cloverfield Boulevard, Santa Monica, CA 90404

Sale Price

$3,375,000

Investment Overview

Units

9

Year Built

1956

Price Per SF

$620

Price Per Unit

$375,000

Current Cap Rate

3.09%

Market Cap Rate

6.02%

Current GRM

18.19

Market GRM

11.56

The Offering

Stepp Commercial presents 2041 Cloverfield Boulevard, located in prime Santa Monica. The property offers (1) two-bedroom/one-bath unit, (6) one-bedroom/one-bath units and RTI permits for (2) one-bedroom/one-bath ADUs*. Units feature ample natural light, laminate hardwood flooring and tile flooring in kitchens and baths.

The spacious enclosed front courtyard offers the opportunity for a landscaped community lounge area. Onsite laundry facilities, three single car garages and surface parking spaces provide additional building income.

The property is ideally located in the center of highly desirable Westside. A plethora of world class entertainment, media and technology companies are located within just a one-mile radius, including Hulu, Riot Games, Snapchat and Oracle.

Santa Monica College, a popular choice for students looking to transfer to Univerity of California and with a student population of 30,000, is located less than one half-mile away.

Expo Line’s Bergamot Station is also less than one half mile away, providing convenient access to booming Culver City, Exposition Park and Downtown Los Angeles.

Whole Foods and Groundworks Coffee are located right across the street, as well as a myriad of top notch restaurant options around the corner.

2041 Cloverfield Boulevard offers ±58% upside potential with the opportunity to own an attractive asset in a stellar Santa Monica location.

Investment Highlights

  • Bright units with ample natural light
  • RTI permits for 2 one-bedroom / one-bath ADUs*
  • Onsite laundry, 3 garages and surface parking provide income
  • Adjacent to major employment & education hubs less than one mile away
  • Expo Line Bergamot Station three minutes away
  • Across the street from Whole Foods; steps from many other amenities
  • ±58% Upside Potential