RUN! Unheard of cap rate for Santa Monica at 5%. Endless investment opportunities on this three unit large lot with Civic Zoning in the Pico Neighborhood. Move right into one of these adorable, detached bungalows and/or start earning high rents right away. Each bungalow has privacy, original detail, private courtyards & parking. The vacant front unit is approx. 902 sq. ft. w/ high ceilings, skylights, built-in wooden shelving & cherry beaded trim work. The rented middle unit is approx. 674 sq. ft. and has Saltillo flooring, high ceilings, skylights & a greenhouse room. The rented back unit is approx. 550 sq. ft. w/ vaulted beam ceilings, skylights & was beautifully remodeled in 2007. This middle & back unit are currently rented for $3,560 each. Mature pomegranate trees & several other fruit tress throughout the property. Zoning is R2-NC (residential/commercial). Near SMC, parks and recreation, transport, dining and Whole Foods. Three units can qualify for an owner occupied rent control waiver. Buyer to perform due diligence with the City.