1248 5th Street, Santa Monica, CA 90401 (MLS # 24355773)
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Lee & Associates Los Angeles West Inc. & Bond Street Partners, acting as the exclusive advisor, are pleased to present the investment opportunity to acquire the 100% fee simple interest in 1248 5th Street, known as the Santa Monica Post Office. This iconic property offers an unprecedented opportunity to capitalize on Santa Monica's March 2023 Housing Element update to build 157 luxury residences anchored by 32,900 square feet of existing, architecturally stunning retail in the heart of Downtown Santa Monica. With its multi-level design, this two-story, historical building stands as a remarkable landmark and perfect jewel box owner-user compound with development potential. Its enviable location provides immediate access to a vibrant technology and creative community, prestigious shops, renowned restaurants, nightlife, and attractions, ensuring strong rental absorption and retail fundamentals. Boasting meticulously preserved interiors that exude an air of sophistication and charm, this space is truly unrivaled and ready for an investor to reinvent the asset into a world-class destination. Visit www.santamonicapostoffice.com for more information.
| DAYS ON MARKET | 103 | LAST UPDATED | 2/7/2024 |
|---|---|---|---|
| YEAR BUILT | 1938 | COMMUNITY | Santa Monica |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | Santa Monica |
|---|---|
| BUYER'S BROKERAGE COMPENSATION | 0.000 % |
| CONSTRUCTION | Concrete |
| HOA DUES | 0 |
| LOT | 0.86 acre(s) |
| LOT DESCRIPTION | Corner Lot, Rectangular Lot |
| STORIES | 2 |
| UTILITIES | Natural Gas Available, Electric: Standard |
| WATER | Public |
| ZONING | SMC3C* |
TOTAL MONTHLY PAYMENT
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