Sold: Jul 13, 2021
Address
218 Hill Street Santa Monica, CA
Price
$ 1,625,000
Property Attributes
  • MLS#21718826
  • TypeLand
  • CountyLOS ANGELES
  • CitySanta Monica
  • Zip90405
  • Style
  • Price$ 1,625,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size4,989 SqFt
Listing Provided Courtesy Of:
Kerry Ann Sullivan with Pardee Properties.
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

What a location for this undeveloped parking lot! Right off of Santa Monica's trendy Main St retail district, this corner lot with 150 ft (per assessor) total of street frontage is waiting for your vision. Zoned OP2, Santa Monica's zoning code says you can build up to two residential units on this lot. Having the corner lot is fabulous in this situation, as it allows you to position the two units to make vehicular access easy and maximize buildable square footage that the City will allow you to build. On the other hand, the parcel is already striped for 17 parking spaces so why not lease it out as a parking lot to Main St businesses? Anyone who has dined, shopped, or had meetings on Main St knows parking is tight. Take advantage of that parking demand and supply spaces for a low maintenance, don't-have-to-deal-with-tenants paycheck each month. There are 27 (!!!) restaurants within two blocks of this lot, plus additional retail and office spaces, creating plentiful vehicular and pedestrian traffic in the area. Whether you are a developer looking to start your next project from scratch, or a residential landlord wanting to 1031 exchange into something with a lot fewer headaches, this undeveloped parking lot off of Santa Monica's Main St is right for you!

Price History
4/15/2021 Listed $1,875,000
4/27/2021 10% - $1,695,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Land Average in 90405

Price
AVG $3.8M
$1.63M

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