This 10-unit apartment building with two non-conforming units is located in a highly desirable pocket of Santa Monica. Built in 1958, the property consists of approximately 6,248 square feet situated on a 7,495 square foot lot. The property features an attractive unit mix of one 3-bedroom/2-bath unit, eight 1-bedroom/1-bath units, and three studio units.
Offered at a 5.75% Current CAP Rate and 11.24 Current GRM, the property presents investors with the opportunity to acquire a well-located multifamily asset at an attractive cost per unit of $280,000. The property offers exceptional income growth potential, achieving a projected 10.45% Pro Forma CAP Rate and 7.28 Pro Forma GRM.
The property includes three one-car garages and five carport parking spaces with additional driveway space, providing valuable on-site parking for tenants. Its central Santa Monica location offers convenient access to Downtown Santa Monica, the Third Street Promenade, Santa Monica Beach, major employment centers, and the area's renowned shopping and dining destinations.
Located in one of Los Angeles County's strongest rental markets, this offering presents an attractive opportunity to acquire a well-positioned multifamily investment with strong in-place income and significant long-term upside potential.
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Zillow last checked:
Listing updated:
Listed by:
Brett LyonDRE #017178183107801899,
Lyon Stahl Investment Real Estate, Inc.,
Woody StahlDRE #01399621310-425-9838,
Lyon Stahl Investment Real Est
Source: CRMLS,MLS#: SB26159465Originating MLS: California Regional MLS
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 11
Bathrooms: 11
Appliances
Laundry: Common Area
Features
Common walls with other units/homes: 2+ Common Walls
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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