Exceptional six-unit investment opportunity in a prime Santa Monica location, just moments from Santa Monica College. This well-positioned multifamily property features six spacious 1-bedroom, 1-bathroom units, offering strong rental appeal in one of the Westside's most desirable and supply-constrained rental markets.With two vacant units, investors benefit from immediate upside potential… Read More through lease-up at market rents or the flexibility for an owner-user strategy. The property currently generates $179,604 in gross annual income, reflecting a 13.64 GRM and a 5% cap rate making it a compelling addition to any multifamily portfolio.Value-add opportunity: The rear storage area and existing garages present excellent potential for ADU conversion (buyer to verify), creating a meaningful opportunity to increase unit count and substantially enhance long-term cash flow and asset value.Tenants enjoy close proximity to world-class beaches, premier shopping and dining, and convenient access to major employment hubs throughout the Westside and Greater Los Angeles area. This is a rare opportunity to acquire a stable coastal asset with built-in upside in one of Southern California's most sought-after communities. Read Less
Courtesy of Miller & Desatnik Realty Co. 310-202-9166
Listing Snapshot
Days Online
33
Last Updated
Property Type
Other
Beds
6
Square Ft.
3,008
Lot Size
0.18 Acres
Year Built
1929
MLS Number
26653771
30 Days Snapshot Of 90405
$1.99M
-19%
(avg) sold price
7
-36%
homes sold
122
+306%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Range/Oven, Refrigerator
Building
3,008 sq ft, Built in 1929, Levels: One
Cooling
Ceiling Fan
Disclosures
None
Garage
Garage
Heating
Wall
Lot
LotAcreage: 0.1823, LotSizeArea: 7,940
Parking
TotalParking: 6
Property
NumberOfUnits: 6, Zoning: SMR2*
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