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1041 9th St 11 Unit Apartment Building $4,650,000 ($422,727/Unit) 5.30% Cap Rate Santa Monica, CA 90403
Investment Highlights
- Close to Ocean
- Nice, quiet neighborhood
- Walkable distance from many shops and restaurants
Executive Summary
Trophy investment! Well-located multifamily asset in the heart of Santa Monica, one of the most supply-constrained and resilient rental markets in Southern California. The property benefits from strong and consistent tenant demand, historically low vacancy rates, and proximity to major employment centers, coastal amenities, and premier retail corridors. Limited new development and favorable long-term market fundamentals support durable cash flow, potential rent growth, and long-term value appreciation, making this asset an attractive coastal investment with defensive characteristics.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$371,421
|
$37.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$371,421
|
$37.28
|
| Taxes |
-
|
-
|
| Operating Expenses |
$125,807
|
$12.63
|
| Total Expenses |
$125,807
|
$12.63
|
| Net Operating Income |
$245,614
|
$24.66
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $371,421 |
| Annual Per SF | $37.28 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $371,421 |
| Annual Per SF | $37.28 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $125,807 |
| Annual Per SF | $12.63 |
| Total Expenses | |
|---|---|
| Annual | $125,807 |
| Annual Per SF | $12.63 |
| Net Operating Income | |
|---|---|
| Annual | $245,614 |
| Annual Per SF | $24.66 |
Property Facts
| Price | $4,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $422,727 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.30% | Building Size | 9,962 SF |
| Gross Rent Multiplier | 12.1 | No. Stories | 2 |
| No. Units | 11 | Year Built | 1970 |
| Property Type | Multifamily | Parking Ratio | 2.01/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3, Santa Monica | ||
| Price | $4,650,000 |
| Price Per Unit | $422,727 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 12.1 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 9,962 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 2.01/1,000 SF |
| Zoning | R3, Santa Monica |
Amenities
Unit Amenities
- Balcony
- Storage Space
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 665 |
| 2+2 | 8 | - | 1,041 - 1,178 |
| 3+2 | 1 | - | 1,200 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4281-029-015 | Total Assessment | $1,706,513 |
| Land Assessment | $975,151 | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $731,362 | Tax Year | 2025 |
Property Taxes
Parcel Number
4281-029-015
Land Assessment
$975,151
Improvements Assessment
$731,362
Total Assessment
$1,706,513
Annual Taxes
$0 ($0.00/SF)
Tax Year
2025
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1041 9th St
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