The aggregate value of real estate in Santa Monica currently stands at $29 billion, according to the Los Angeles County Office of the Assessor.
The aggregate value of property in Los Angeles County totaled $1 trillion > $62 billion increase from the prior year – a.k.a. a 6% rise in value.
“While the largest factor for the increase this year was residential real estate, international investors are also pouring money into large mixed use projects in downtown L.A., including projects like the Wilshire Grand Tower and Metropolis,” observes Anthony Crump, Special Assistant of Communications at the County Office of the Assessor.
The California Association of Realtors looks broader and notes that statewide, the median price rose over the 12 months ending in August by 8.9% to $480,280, the highest recorded since 2007.
Real estate in Santa Monica escalates exponentially. If we look at Clarus Market Metrics calculations on the sale price of all residential properties in Santa Monica – houses, condos and apartment properties – from September 2013 to 2014 the median sold price is up 40%.
Looking at county-wide statistics, the aggregate value of property in the City of Los Angeles was $467 billion. Long Beach had the second-highest property valuation, coming in at $49 billion, Santa Monica at $29 billion, Santa Clarita at $26 billion and Torrance at $26 billion.
Around Santa Monica, an exceptional array of properties are on the market. If we look at Ocean Park 90405, there are several architecturally dynamic properties including the reconstructed 1925 Craftsman family compound at 3008 3rd St. for $4,188,000; a 1902 Victorian character cottage loaded with old world charm at 138 Wadsworth selling for $3,699,000. 2621 2nd St. is “an amazing one of a kind architectural home awaits you in this historic church that was converted into an inspiring & artistic home!”
Looking at Ocean Park multifamily… 2411-2417 2nd Street offers eight freestanding bungalows on a 9,851 square feet lot for $4,595,000. The Pacifica Apartments @ 501 Pacific Street, offers a 28-unit, 1990 construction, non-rent controlled apartment complex featuring two buildings totaling 20,960 sq.ft. on 28,000 sq.ft. of land for $10,400,000
On the commercial front, 2323 Lincoln Boulevard is a development property on the east side of Lincoln Blvd. with a FAR of 1.5. Additionally there is a pocket listing for a 3,000 sq.ft. live/work architectural at Navy + Lincoln. The site offers 3-suite, 2.5 bath, a huge loft space and 19′ ceilings.
For more information please contact Jodi Summers and the SoCal Investment Real Estate Group @ Sotheby’s International Realty – firstname.lastname@example.org or 310.392.1211, and let us move forward together.
Not all of the properties mentioned in the above article are the listings of the author or Sotheby’s International Realty.
Join us for an interactive community workshop. Experience the facility, explore
the site and discuss the uses proposed by the community.
Community Workshop #1
Date: Saturday, September 27, 2014
Time: 8:30 a.m. Welcome and Refreshments
9:00 a.m. Civic Working Group Meeting & Workshop Begins
1:30 p.m. Meeting & Workshop Adjourns
Location: Santa Monica Civic Auditorium East Wing,
1855 Main Street, Santa Monica, CA
Parking: Free bike and car parking will be available
We are reaching out to the community as broadly as possible for this workshop. Please
help us by inviting your neighbors and friends. Multiple mailing lists are being used and
we ask for your patience regarding duplicates.
To request disability-related accommodations or translation services, or if you have any
questions call the Cultural Affairs Division at 310-458-8350.
Este es un aviso sobre los talleres para planear el futuro del Auditorio Cívico de Santa
Monica. Para más información llame a Lisa Varon al número 310-458-8350.
Use #FutureSMCivic to share your thoughts about the future of the Civic on social media.
by Jodi Summers
Do you know how to swim out of a rip current? Now you’ll be able to learn over cocktails, because the information will be on your drink coaster. The Los Angeles County Surf Life Saving Association (LACoSLSA) has created an ocean safety awareness campaign to remind beachgoers of the dangers of rip currents. The organization has distributed 20,000 drink coasters to restaurants throughout the beach cities of Los Angeles County provide education on how swimmers can safely escape from a rip current.
More than 20,000 coasters have been distributed to numerous restaurants throughout Santa Monica, Venice, Marina del Rey and El Segundo. Among the local restaurants involved in the measure are The Whaler, Big Dean’s, Waterfront, Patrick’s Roadhouse, O’Briens, The Galley, Finn McCools, Moonshadows, Reel Inn, and Pearl Dragon.
“This summer, in particular, we’ve all become aware of how treacherous the ocean can be at times,” says Chris Linkletter, President of the LA CoSLSA. “These coasters provide important information that beachgoers can use to ensure they have a safe day at the beach.”
The original rip current artwork was developed through a Sea Grant project in collaboration with NOAA (National Oceanic and Atmospheric Administration) and the USLA (United States Lifesaving Association).
The LACoSLSA is a California public benefit corporation created to promote beach and open water safety education for public safety personnel. It will also support programs, events and initiatives that foster public safety awareness in open water environments.
Every dollar donated to, or raised by, the LACoSLSA is used to support Junior Lifeguard programs, for the purchase of training equipment and maintenance, and to create and distribute open water safety educational materials aimed at the public, beachgoers and public safety personnel.
Additionally, each lifeguard tower in the County, as well as each section headquarters will receive the coasters with the public service message.
Future coasters will deal with situations like lightning at the beach (R.I.P. Nick Fagnano) and how to deal with getting tumbled by a wave.
Courtesy of the City of Santa Monica department of Planning and Community Development Planning and Zoning Division
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