Pending
$1,900,000
5 Units
7 Beds
5 Baths
4,062 Area(sq.ft.)
Lot: 7,500 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 4,000 | $ 4,000 | $ 4,000 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,261 | $ 2,261 | $ 2,261 |
| Unit 3 | 1 | 1 | 1 | No | $ 913 | $ 913 | $ 2,261 |
| Unit 4 | 1 | 1 | 1 | No | $ 2,261 | $ 2,261 | $ 2,261 |
| Unit 5 | 1 | 2 | 1 | No | $ 1,446 | $ 1,446 | $ 2,900 |
| 5 | 7 | 5 | $ 10,881 | $ 10,881 | $ 13,683 |
| MLS #: | 25544385 |
| Days On Market: | 192 |
| Listing Date: | May 28, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 468 |
| Price per unit: | $ 380,000 |
| Year Built: | 1923 |
Property Details
Prime Santa Monica 5-Unit Investment Opportunity*** 2 Vacant Units * Trophy Location North of Wilshire Presenting a rare opportunity to acquire a 5-unit multifamily property in one of Santa Monica's most sought-after neighborhoods north of Wilshire Boulevard and directly across from Lincoln Middle School. This well-maintained asset sits on a spacious 7,498 sq ft lot and features a charming front 2-bedroom, 1-bathroom house (built in 1923) plus a rear fourplex (built in the mid-1950s), offering a total of 4,062 rentable square feet. Property Highlights: 5 total units: 1 standalone front house + 4-unit rear building 2 units delivered vacant: the 2BR/1BA house and one 1BR/1BA unit perfect for an owner-user or value-add investor Separately metered for gas and electricity enhancing operational efficiency and long-term flexibility 4-car garage with completed seismic retrofit compliant with current safety standards Additional carport space for a total of 5 off-street parking spots Strong unit mix and significant upside potential in rentsPrime walkable location near Montana Avenue shops & cafes Just minutes to the beach, Downtown Santa Monica, and top-tier schoolsThis is an ideal opportunity for investors, developers, or owner-users looking to secure a premier property in Santa Monica's highly competitive rental market. With two vacant units ready for occupancy or renovation, and a premium location in a supply-constrained area, this asset offers the perfect balance of stability and upside.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 2% |
| Gross Operating Income: | $ 122,655 |
| Total Annual Expense: | $ 46,424 |
| Net Operating Income: | $ 80,231 |
| Gross Annual Income: | $ 10,881 |
| Cap Rate: | 4.22% |
| Gross Rent Multiplier: | 14.55 |
| Actual Gross Income: | $ 130,572 |
Structure
| Type of Units: | Apartment |
| Buildings: | 2 |
| Levels: | Two |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Covered Parking, Garage |
Interior
| AC/Cooling: | Ceiling Fan |
| Equipment: | Refrigerator, Range/Oven, Washer, Dryer, Ceiling Fan |
| Heating: | Wall |
| Laundry: | Laundry Area |
Exterior
Detailed Map
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