Properties | Chelsea Santa Monica

Chelsea Santa Monica

A Brand New 53-Unit Luxury Mixed Use Community

1318 2nd Street | Santa Monica

Sales Price: N/A

Seller: Century West & Blackrock

Buyer: N/A

Units: 53

Price per Unit: N/A

Price per Sq. Ft.: N/A

Current CAP: N/A

Current GRM: N/A

Market CAP: N/A

Market GRM: N/A

Year Built: 2016

Lot Size Sq. Ft.: 15,484

Gross Bldg. Sq. Ft.: 42,000

Close of Escrow: 9/5/2017

 Chelsea Santa Monica is a core 53-unit mixed-use investment opportunity that has it all. Located on Second Street in Downtown Santa Monica, the property is within walking distance of nearly everything its residents could possibly need. The list includes scores of restaurants, bars, clubs, and hotels, two million square-feet of offi ce space, outdoor shopping centers including Third Street Promenade and Santa Monica Place, a metro station with connectivity to Santa Monica’s business campuses, Culver City, USC, and Downtown LA, numerous bike share stations, and most notably, the Pacifi c Ocean. The ability to walk to so many lifestyle amenities is unparalleled in Southern California. 

  • Prime Santa Monica Location: Chelsea Santa Monica is located in the heart of Downtown Santa Monica, one of the most sought after locations for renters in Southern California.
  • Protected 180-Degree Ocean Views: The properties located west of Chelsea Santa Monica along Ocean Avenue are recognized by the City of Santa Monica as historical structures and are not able to be redeveloped thereby preserving the ocean views at Chelsea.
  • Silicon Beach-Robust Employment Drivers: The awakening of the Los Angeles tech sector in “Silicon Beach”, where established social media and entertainment giants such as Yahoo!, Activision, Blizzard, CBS, HBO, Snapchat, Google, Riot Games, and Universal Music Group have offi ces and where hundreds of start-up ventures have taken root. Santa Monica’s numerous offi ce parks also offer a variety of employment options.
  • Supply & Demand Imbalance: The growth in employment currently outpaces the growth in housing supply by more than 7 new jobs per every 1 new multifamily unit delivered in Santa Monica leading to continued and increasing demand in the submarket
  • Walkability: Chelsea Santa Monica has a 94 Walk Score—“A Walker’s Paradise”—meaning daily errands do not require a car. Residents at Chelsea Santa Monica truly have access to just about everything they could need within walking distance
  • Transit-Oriented Development: There are excellent transit options surrounding the property and excellent bike lanes throughout Santa Monica. Notably, the Metro Expo Line, two Big Blue Bus routes, and numerous Santa Monica bike share stations are all within a short walk.