2032 Delaware ave, Santa Monica, CA 90404
Active
$9,999,000
30 Units
40 Beds
32 Baths
24,494 Area(sq.ft.)
Lot: 47,698 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 20 | 1 | 1 | No | $ 1,920 | $ 38,406 | $ 52,000 |
| Unit 2 | 8 | 2 | 1 | No | $ 2,345 | $ 18,757 | $ 24,800 |
| Unit 3 | 2 | 2 | 2 | No | $ 3,000 | $ 6,000 | $ 6,800 |
| 30 | 40 | 32 | $ 63,157 | $ 930,176 | $ 1,252,000 |
| MLS #: | 25537621 |
| Days On Market: | 268 |
| Listing Date: | May 12, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 408 |
| Price per unit: | $ 333,300 |
| Year Built: | 1948 |
Property Details
2032-2106 Delaware Avenue is a two-story, wood-frame construction apartment building consisting of 30 total units, supported by two parking structures at the rear of the property. The unit mix includes 20 one-bedroom units, 2 two-bedroom townhome units, and 8 two-bedroom units, offering a balanced combination of layouts to attract a diverse tenant base. The property presents a compelling value-add opportunity, with approximately 38% rental upside. Set on a large 1.09-acre lot with low site coverage, the site provides ample space for the addition of 2 to 4 accessory dwelling units (ADUs), allowing for future income growth. Residents enjoy the convenience of 26 private one-car garages, full kitchens in each unit, and on-site laundry facilities. Mature landscaping, combined with an open and spacious layout, creates a serene, garden-style community atmosphere that is highly desirable to tenants. Located in the heart of Santa Monica's thriving Pico neighborhood, the property offers easy access to the I-10 and 405 freeways, major employment hubs, public transportation, and Santa Monica's renowned beaches, retail, and dining amenities.Interested in this Listing?
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Income Details
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 744,720 |
| Total Annual Expense: | $ 278,635 |
| Net Operating Income: | $ 466,085 |
| Gross Annual Income: | $ 767,459 |
| Cap Rate: | 4.66% |
| Gross Rent Multiplier: | 13.19 |
| Actual Gross Rent: | $ 757,956 |
| Actual Rent Total: | $ 60,063 |
Structure
| Type of Units: | Standard |
| Buildings: | 3 |
| Levels: | Two |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Assigned, Detached, Driveway, Covered Parking, Private, Private Garage, Garage Is Detached, Garage - 1 Car, Garage, Parking Space, Driveway - Concrete, Driveway - Gravel |
| Covered Parking: | 26 |
| Total Parking: | 26 |
Interior
| AC/Cooling: | Other |
| Equipment: | Microwave, Refrigerator, Range/Oven |
| Heating: | Other |
| Fireplace Rooms: | Kitchen, Bath, Dining, Living Room, Primary Bedroom |
| Kitchen Features: | Ceramic Counters, Remodeled |
Exterior
| Pool: | No |
| Spa: | No |
Detailed Map
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