Playa Apartments is a value-add multifamily investment opportunity located in the desirable beachside community of Santa Monica. This asset presents an ideal income property for an investor in search of acquiring a well-positioned property with the potential of adding value through capital improvements and increasing rents over time. This charming apartment building is comprised of 8 units in one two-story building that was constructed in 1957. There are (5) parking spaces at the rear of the property and an on-site laundry room. This well-located building totals 3,740 square feet and is constructed of wood frame with pitched roof and painted stucco exterior. Lot size is 5,897 square feet and zoning is SMOP2*. The unit mix is comprised of (4) 1 bedroom + 1 bath units and (4) single + 1 bath units. Select units have recently undergone substantial renovation. Currently the property is being operated as a master metered building, though individual meters have been installed at the building, they have yet to be connected. 638 Grant Street is located in Santa Monica, California. Santa Monica is one of the most desirable beach community locations in Southern California and Los Angeles. Located on the 600 block of Grant Street, the property is situated a few blocks from the beach, between Lincoln Blvd & 6th St., just south of Pico Blvd.