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.
Additional Features
- 6-10 Units/Acre
- Parking spaces: 11.00
- Listing Status: Active
- Listing Agent: Brett Lyon
(lic# 01717818)
of South Bay
- Listing Office: Lyon Stahl Investment Real Estate, Inc.
(lic# 01972083)
- CO-Listing Agent: Woody Stahl
(lic# 01399621)
of Pacific West
- CO-Listing Office: Lyon Stahl Investment Real Est
(lic# 01972083)
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Based on information from CRISNet MLS as of 15th September 2026 at 1:22pm. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
