2302 Oak Street

Santa Monica, CA 90405

Beautifully situated in a prime Santa Monica location, this seven-unit multifamily property lies just moments from the Santa Monica Business Park—home to major employers such as Snap, Hulu, Crexi, and Naughty Dog—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 laundry—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 Westside’s most desirable and consistently high-demand rental markets.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.