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$ 3,400,000
Est. payment | /mo
5,232 SqFt
$ 3,400,000
Est. payment | /mo
5,232 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,232 sqft
Price per Sqft $649
MLS Listing ID CL25553257
HOA Y/N No
Year Built 1903
Lot Size 6,491 Sqft
Acres 0.15
Property Sub-Type Other
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 t
Location
State CA
County Los Angeles
Zoning SMOP
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 4287024013
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Elliot Hassan • NorthMarq Realty Services, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "