Property
| Ownership: | For Sale |
|---|---|
| Bedrooms: | 12 BR |
| Bathrooms: | 11 |
| Area: | 6491 sq ft |
| Lot Size: | 0.15 Acres |
FinancialsPrice:$3,400,000
DescriptionOriginally 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.
NeighborhoodMore listings:
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.
241 Marine St 12BR Santa Monica La
DescriptionOriginally 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.
NeighborhoodMore listings:
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.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
