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1111-1113 18th St
Santa Monica, CA 90403
Multifamily Property For Sale
·
4 Units
Property Facts
| No. Units | 4 | Building Size | 3,977 SF |
| Property Type | Multifamily | Average Occupancy | 75% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1937 |
| Building Class | C | Parking Ratio | 1.26/1,000 SF |
| Lot Size | 0.18 AC | ||
| Zoning | SMR2YY | ||
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,977 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1937 |
| Parking Ratio | 1.26/1,000 SF |
| Zoning | SMR2YY |
Amenities
Site Amenities
- Gated
About 1111-1113 18TH ST , SANTA MONICA, CA 90403
1111 18th Street is a 3,977 SF 4-unit apartment building on an 8,009 SF lot. The building is comprised of two (2) three-bedroom/two-bathroom units and two (2) one-bedroom/one-bathroom units. Currently, THREE OF THE FOUR UNITS ARE VACANT which opens an immediate opportunity to update the units and rent them at market rates. The lot is zoned SMR2 allowing the potential to build four (4) new units/condos by-right, to maximize the potential of the lot. • Unit Mix: (2) 3bd+2bth, (2) 1bd+1bth • Rent Role: (2) 3bd+2bth Vacant, (1) 1bd+1bth Vacant, (1) 1bd+bth $1780/m • 3,977 RSF • 8,009 SF Lot • Market CAP Rate 5.91% (after renovations) • Market GRM 15.07 (after renovations) • Zoned R2 - Opportunity to build 4-5 New Condos • 5 Onsite Garage Spaces • Excellent Owner/User opportunity - Vacant 3bd+2bth unit separate from the other 3 units, located above the garages with it's own private entrance • Prime Santa Monica Location North of Wilshire • Highly Motivated Seller - We are encouraging all interested parties to submit offers
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $2,215 | 850 |
| 3+2 | 2 | $4,800 | 1,150 |
Property Taxes
| Parcel Number | 4276-009-003 | Improvements Assessment | $819,904 |
| Land Assessment | $1,907,535 | Total Assessment | $2,727,439 |
Property Taxes
