1323 11th st, Santa Monica, CA 90401
Active
$4,300,000
10 Units
13 Beds
10 Baths
7,098 Area(sq.ft.)
Lot: 7,485 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 3,495 | $ 3,495 | $ 3,600 |
| Unit 10 | 1 | 2 | 1 | No | $ 3,495 | $ 3,495 | $ 3,600 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,795 | $ 2,795 | $ 3,150 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,795 | $ 2,795 | $ 3,150 |
| Unit 4 | 1 | 1 | 1 | No | $ 1,583 | $ 1,583 | $ 3,150 |
| Unit 5 | 1 | 2 | 1 | No | $ 3,395 | $ 3,395 | $ 3,600 |
| Unit 6 | 1 | 1 | 1 | No | $ 2,695 | $ 2,695 | $ 3,150 |
| Unit 7 | 1 | 1 | 1 | No | $ 1,501 | $ 1,501 | $ 3,150 |
| Unit 8 | 1 | 1 | 1 | No | $ 3,079 | $ 3,079 | $ 3,150 |
| Unit 9 | 1 | 1 | 1 | No | $ 3,145 | $ 3,145 | $ 3,150 |
| 10 | 13 | 10 | $ 27,978 | $ 27,978 | $ 32,850 |
| MLS #: | 25531737 |
| Days On Market: | 232 |
| Listing Date: | April 18, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 606 |
| Price per unit: | $ 430,000 |
| Year Built: | 1958 |
Property Details
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. We are pleased to offer the opportunity to acquire 1323 11th Street, a 10 unit partially renovated apartment community located in Santa Monica. Situated between Santa Monica Boulevard and Wilshire Boulevard, the subject property is located within walking distance to the 3rd Street Promenade and provides easy access to everyday amenities. Situated on a 7,485 square foot lot, the property consists of a single building with seven one-bedroom units and three two-bedroom units. Current ownership has extensively renovated 80% of the units, featuring new flooring throughout, modern kitchens with quartz countertops, stainless steel appliances including dishwasher, stove/oven, and farmhouse-style sink and open-concept dining and living areas. Renovated units also include updated bathrooms, contemporary vanities, spacious closets, and ample cabinet space.1323 11th Street provides investors a rare buying opportunity that provides an immediate healthy income stream, with remaining rental upside in a prime coastal market.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Gross Operating Income: | $ 330,028 |
| Total Annual Expense: | $ 103,653 |
| Net Operating Income: | $ 226,374 |
| Gross Annual Income: | $ 335,736 |
| Cap Rate: | 5.26% |
| Gross Rent Multiplier: | 12.81 |
Structure
| Type of Units: | Residential |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Zoning: | SMR3* |
| Parking Garage: | Covered Parking |
| Total Parking: | 13 |
Interior
| AC/Cooling: | Other |
| Equipment: | Other |
| Heating: | Other |
Exterior
Detailed Map
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Income
