241 Marine ST new Save Request In-Person Tour Request Virtual Tour
Santa Monica,CA 90405
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,232 sqft
Price per Sqft $649
MLS Listing ID 25553257
Bedrooms 12
HOA Y/N No
Year Built 1903
Lot Size 6,490 Sqft
Property Description
Originally built in 1903, 241 Marine Street sits on a corner lot totaling approximately 6,490 square feet, with underutilized common area space that provides additional value-add potential. A subsequent buyer will have the opportunity to transform the asset into a boutique luxury property through targeted exterior facade enhancements and comprehensive interior renovations. The property consists of three (3) studios, five (5) one-bedroom/one-bath units, one (1) two-bedroom/one-bath unit, and one (1) two-bedroom/two-bath unit (*the property is currently being operated as a 9 unit). Additionally, select units feature private patios and ocean views, much of the building remains in largely original condition creating a blank canvas to deliver a premium product that can command top-of-market rents. With ~32% loss-to-lease on in-place rents, there is a clear path to unlock substantial value in a neighborhood underserved by high-end rental inventory. In addition to its unbeatable beachside location, 241 Marine offers proximity to major Westside employment hubs, including Silicon Beach, Culver City, the Santa Monica Media District, and Century City. This connectivity attracts a professional tenant base in tech, media, and entertainment, and supports long-term leasing stability in one of the most resilient and high-barrier rentals markets in the region.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMOP2*
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4287024013
Special Listing Condition Standard