For Sale
$2,800,000

1127 16Th StSanta Monica, CA 90403

Six-unit apartment building, prime location

Overview

Added:
Dec 11, 2024
Days on market:
113
This Class A, six-unit apartment building at 1127 16th Street in Santa Monica, California, presents a compelling investment opportunity. The property boasts five currently rented two-bedroom units, with rents on three units already reflecting a 3% increase effective September 1, 2024. An additional vacant two-bedroom, two-bathroom unit features beautiful hardwood floors and a spacious balcony overlooking a serene greenbelt. The building offers desirable amenities including on-site laundry and gated entry, enhancing resident appeal and security. Its location north of Wilshire Boulevard in Santa Monica places it in a highly sought-after area. The property's lush landscaping creates a tranquil atmosphere, shielding residents from typical urban distractions. The vacant unit presents potential for immediate rental income generation upon lease-up, and the property's zoning may allow for the exploration of Accessory Dwelling Unit (ADU) development, offering further upside potential. The asking price for this exceptional multifamily property is $2,800,000. This presents a rare chance to acquire a well-maintained, income-producing asset in a highly desirable California coastal location. Serious inquiries are encouraged to explore this promising investment opportunity.

Highlights

  • $2,800,000 asking price for a Class A, six-unit apartment building.
  • Multifamily property located at 1127 16th St, Santa Monica, CA 90403.
  • Five 2-BR units currently rented; one vacant 2-BR/2-BA unit with hardwood floors and balcony.
  • On-site laundry and gated entry.
  • Potential for Accessory Dwelling Unit (ADU) development.

Property Details for 1127 16Th St

Property type
Apartment buildings
Class
A
Units
6

Location Insight

City
Santa Monica
County
Los Angeles
State
California
Latitude
34.029068945779
Longitude
-118.4878369061
1127 16Th St, Santa Monica, California

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1127 16Th St
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