2517 20th st, Santa Monica, CA 90405
Active
$2,250,000
5 Units
7 Beds
5 Baths
3,219 Area(sq.ft.)
Lot: 6,766 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 3,500 | $ 3,500 | $ 3,605 |
| Unit 2 | 1 | 1 | 1 | No | $ 1,353 | $ 1,353 | $ 1,393 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,903 | $ 2,903 | $ 2,990 |
| Unit 4 | 1 | 2 | 1 | No | $ 3,000 | $ 3,000 | $ 3,090 |
| Unit 5 | 1 | 2 | 1 | No | $ 3,525 | $ 3,525 | $ 3,630 |
| 5 | 7 | 5 | $ 14,280 | $ 14,280 | $ 14,708 |
| MLS #: | 25-486165 |
| Days On Market: | 380 |
| Listing Date: | January 20, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 699 |
| Price per unit: | $ 450,000 |
| Year Built: | 1938 |
Property Details
This exceptionally charming 5-unit residential property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated property has immense appeal and offers long-term growth potential. The property has been meticulously maintained. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Four of the five units have been remodeled; three feature in-unit laundry, the other two units have private laundry inside their garage. There are refinished hardwood floors, two of the three front units have split AC units, quartz/granite countertops and tiled showers. In January 2025 a new roof was installed on the rear building, and in late 2024 the front building was recoated. Two of the front units have individual enclosed garages; three units have assigned parking. This property offers both immediate rental income and long-term growth potential. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. The current tenants are professionals and the units are well maintained. This a fantastic opportunity for investors seeking a steady cash flow in a thriving market. There is an excellent property management company in place.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 176,492 |
| Total Annual Expense: | $ 50,823 |
| Net Operating Income: | $ 125,670 |
| Gross Annual Income: | $ 176,492 |
| Cap Rate: | 5.6% |
| Gross Rent Multiplier: | 12.75 |
Structure
| Type of Units: | 5 units |
| Buildings: | 2 |
| Levels: | One, Two |
| Style: | Spanish |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Assigned |
Interior
| AC/Cooling: | Wall Unit(s), Air Conditioning |
| Equipment: | Refrigerator, Range/Oven, Dryer, Washer |
| Heating: | Wall |
| Fireplace Rooms: | None |
| Laundry: | In Unit, Community |
Exterior
Detailed Map
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