For Sale
$3,950,000

1312 19Th St Santa Monica, CA 90404

Prime Santa Monica 6-unit apartment building

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional value-add opportunity presents a 6-unit apartment building in desirable Santa Monica, CA (APN 4276-029-003). The property, built in 1969, boasts 8,903 square feet on a 7,507 square foot lot and is zoned SMR2. Currently operating at 50% occupancy, the property offers a compelling investment with a current NOI of $199,746 and a projected NOI of $247,497, translating to a 5.06% cap rate and a pro-forma cap rate of 6.27%. The asking price is $3,950,000, or $443.67 per square foot and $658,333.33 per unit. The unit mix includes one large 4-bedroom, 2.5-bathroom townhouse (over 2,000 sq ft) with a private gated patio, formal dining area, wet bar, two fireplaces, in-unit laundry, and a finished basement (potential ADU conversion)

Highlights

  • High-value add opportunity: Half of the units are vacant, offering significant potential for appreciation and long-term growth. Ideal for owner-occupancy.
  • Prime Santa Monica location: Surrounded by major tech and entertainment employers (Yahoo, Snapchat, Hulu, Riot Games, Oracle) and near Santa Monica College, top-rated schools, and dog parks. The Water Garden development further enhances the area's appeal.

Property Details for 1312 19Th St

Property type
Apartment buildings
Square Feet
8,903 SF
Class
C
Year Built
1969
Buildings
1
Units
6

Location Insight

City
Santa Monica
County
Los Angeles
State
California
Latitude
34.0287087
Longitude
-118.4824645

FAQs

What type of property is this?
Apartment building - Prime Santa Monica 6-unit apartment building
Where is the apartment building located?
The property is located at 1312 19Th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: High-value add opportunity: Half of the units are vacant, offering significant potential for appreciation and long-term growth. Ideal for owner-occupancy.; Prime Santa Monica location: Surrounded by major tech and entertainment employers (Yahoo, Snapchat, Hulu, Riot Games, Oracle) and near Santa Monica College, top-rated schools, and dog parks. The Water Garden development further enhances the area's appeal.;
How can I contact the broker?
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1312 19Th St
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