1437 9th st, Santa Monica, CA 90401
Pending
$4,500,000
22%
16 Units
18 Beds
16 Baths
3,416 Area(sq.ft.)
Lot: 7,479 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 14 | 1 | 1 | No | $ 26,840 | $ 26,840 | $ 30,730 |
| Unit 2 | 2 | 2 | 1 | No | $ 5,990 | $ 5,990 | $ 5,990 |
| 16 | 18 | 16 | $ 387,740 | $ 387,740 | $ 442,200 |
| MLS #: | 24-413473 |
| Days On Market: | 514 |
| Listing Date: | July 10, 2024 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,317 |
| Price per unit: | $ 281,250 |
| Year Built: | 1956 |
Property Details
Amazing Price Improvement! Owner motivated to sell! First time to market in over 60 years! Beautiful, income generating 16-unit apartment complex spanning two lots in Santa Monica. The apartments in the complex open up to a large grass courtyard bathed in California sunshine. The spacious property also lends itself to a potential for development in the heart of Santa Monica. On the boarder of Downtown and Midcity Santa Monica, this complex is surrounded by restaurants and shops, and just minutes from the beach and 10 Freeway. Two parcels totaling: approximately ~14,990 square feet of land and ~6,480 square feet of building per the assessor.Interested in this Listing?
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Income Details
| Vacancy Rate: | 3% |
| Gross Operating Income: | $ 401,659 |
| Total Annual Expense: | $ 126,750 |
| Net Operating Income: | $ 274,909 |
| Gross Annual Income: | $ 414,081 |
| Cap Rate: | 6.11% |
| Gross Rent Multiplier: | 10.87 |
Structure
| Type of Units: | Mix- 1&2bed |
| Buildings: | 3 |
| Levels: | Two |
| Style: | Traditional |
Land & Parking
| Zoning: | SMR3* |
| Parking Garage: | Driveway |
Interior
| AC/Cooling: | None |
| Equipment: | Range/Oven, Refrigerator |
| Heating: | Wall Gas |
| Laundry: | Room |
Exterior
Detailed Map
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