Properties

Santa Monica, CA 90405 2302 Oak Street

2302 Oak Street Santa Monica, CA - Image 12302 Oak Street Santa Monica, CA - Image 22302 Oak Street Santa Monica, CA - Image 3
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Presented By: Andy Dehu with Real Broker; 310-962-9994
  • MLS# OC25272345
  • 12/01/2025
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  • Baths • 3
  • SQFT • 9,109
  • Garage • 4

Home Details

Beautifully situated in a prime Santa Monica location, this seven-unit multifamily property lies just moments from the Santa Monica Business Parkโ€”home to major employers such as Snap, Hulu, Crexi, and Naughty Dogโ€”and only a few blocks from Santa Monica College, which serves more than 26,000 students and faculty. The property is also positioned to benefit from the Santa Monica Airport Conversion Project, a city-led initiative that will permanently close the airport by 2028 and transform the surrounding area into expansive parks, open space, and new community amenities. This once-in-a-generation redevelopment is expected to significantly enhance neighborhood quality, elevate desirability, and support long-term rental and asset value growth. Built in 1965, the asset offers approximately 9,109 square feet of living area on an 8,287-square-foot lot, featuring an exceptional unit mix of three 2-bed/2-bath units, three 3-bed/2-bath units, and one 4-bed/3-bath townhouse-style front unit. All units provide spacious layouts and ample storage. The building is separately metered for gas and electricity, includes an on-site laundry room, and offers five units with in-unit laundryโ€”highly desirable amenities that support premium rent potential. Seven parking spaces, including four gated stalls, provide added security and convenience. Two units have recently undergone substantial upgrades, including new flooring, renovated kitchens with gas appliances, updated bathrooms, modern lighting, and in-unit laundry. These improvements reduce deferred maintenance, enhance tenant experience, and strengthen long-term operating performance. With current rents still below market, a new owner will benefit from meaningful upside through natural turnover and full renovation of remaining units. Delivering immediate income, strong future rent growth, and extraordinary long-term appreciation potential supported by the airport conversion, this offering represents a rare opportunity to acquire a turnkey multifamily asset in one of the Westsideโ€™s most desirable and consistently high-demand rental markets.
Presented By: Andy Dehu with Real Broker; 310-962-9994

Interior Features for 2302 Oak Street

Other Interior Features

Common WallsNo Common Walls
Laundry FeaturesCommon Area, Inside
Total Stories2

Other Rooms

Entry Level1

General for 2302 Oak Street

Additional Parcels Y/NNo
Building Area UnitsSquare Feet
CitySanta Monica
Community FeaturesStreet Lights
CountyLos Angeles
Directions23rd St & Oak St Intersection
Electric Expense960
Entry LocationFirst Floor
Fuel Expense2400
Garage Spaces4
Garage Y/NYes
Gross Income291600
HOANo
HOA Fee$
Insurance Expense4800
Land Lease Y/NNo
LevelsTwo
Listing TermsCash, Conventional, 1031 Exchange
Lot Size Square Feet8287
Lot Size UnitsSquare Feet
MLS AreaC14 - Santa Monica
MaintenanceExpense3600
Net Operating Income227750
New ConstructionNo
Number Of Units Total7
Number of Units Leased7
Operating Expense63850
Pool FeaturesNone
PostalCitySANTA MONICA
Property Attached Y/NNo
Property Sub Type AdditionalMixed Use
Property SubtypeMixed Use
Property TypeResidential Income
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count2
Tax Lot20
Taxes$43,450
Tenant PaysElectricity, Gas
Total Actual Rent24300
Trash Expense3000
Water Sewer Expense4200
Year Built1965
Year Built SourcePublic Records

Exterior for 2302 Oak Street

Building Area Total9109
Lot Features6-10 Units/Acre
Lot Size Acres0.1902
Lot Size Area8287
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters7
Number of Separate Gas Meters7
Number of Separate Water Meters0
Private PoolNo
Total Parking4
Water SourcePublic

Additional Details

Price History

Schools

High School Hubert H Humphrey Middle School
Middle School N/A
Elementary School Big Hollow Elementary School

Connect Realty

Price $3,950,000
MLS#OC25272345
List Date 12/01/2025
Property Type Multi-Family
Phone 888.795.6274
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