1127 16Th StSanta Monica, CA 90403

Property Details for 1127 16Th St

Year built

1958

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

6,768 SF

Zone code

SMR2*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

4281-004-018

APU

4281004018

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,069,318

  6.5%

  $1,910,139

  7%

  $1,773,701

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,991,338

  Geo Method

  $1,994,854

• Alternative Use

  Use

  Valuation

  Residential

  $1,910,139

  Hospitality

  $1,749,677

  Educational

  $1,455,711

  Medical

  $1,505,775

  Retail

  $2,264,440

Location Insight

City

Santa Monica

County

Los Angeles

State

California

Latitude

34.0293

Longitude

-118.488

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].