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5 Unit Multi-Family 1231-1233 17th St 5 Unit Apartment Building $2,550,000 ($510,000/Unit) 5.03% Cap Rate Santa Monica, CA 90404
INVESTMENT HIGHLIGHTS
- Prime Santa Monica Location
- 100% Fully Leased
- Well Maintained Property
- Possible ADU conversions (buyer to verify)
EXECUTIVE SUMMARY
Rarely available 5 unit beach style compound with front duplex units, a rear structure with 3 apartments, central garden, and 4 private garages. HIGHLY DESIRABLE SANTA MONICA POCKET steps from the beach, Montana Avenue, premium retail, and a mix of top-tier dining. Within a major medical corridor including UCLA Health and St Johns
Health Center. VALUE ADD OPPORTUNITY Nestled within a storybook style street scene lined with palm trees and well manicured courtyards. The addition of ADUs possible with conversion of garages (buyer to verify). The property is beautifully landscaped and designed for privacy, centered around a middle garden. Bungalow-style units with modern finishes and private access. Prime walkable location delivering Santa Monica’s best in retail, transit, and coastal access. Ideal for discerning buyers seeking
a low-maintenance asset with authentic character and lifestyle perks. Central laundry room + in unit washer/dryers (in front duplex.
Health Center. VALUE ADD OPPORTUNITY Nestled within a storybook style street scene lined with palm trees and well manicured courtyards. The addition of ADUs possible with conversion of garages (buyer to verify). The property is beautifully landscaped and designed for privacy, centered around a middle garden. Bungalow-style units with modern finishes and private access. Prime walkable location delivering Santa Monica’s best in retail, transit, and coastal access. Ideal for discerning buyers seeking
a low-maintenance asset with authentic character and lifestyle perks. Central laundry room + in unit washer/dryers (in front duplex.
PROPERTY FACTS
| Price | $2,550,000 | Apartment Style | Low-Rise |
| Price Per Unit | $510,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.03% | Building Size | 3,878 SF |
| Gross Rent Multiplier | 12.4 | Average Occupancy | 60% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 0.93/1,000 SF |
| Zoning | SMR2* | ||
| Price | $2,550,000 |
| Price Per Unit | $510,000 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Gross Rent Multiplier | 12.4 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,878 SF |
| Average Occupancy | 60% |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 0.93/1,000 SF |
| Zoning | SMR2* |
AMENITIES
UNIT AMENITIES
- Cable Ready
SITE AMENITIES
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 5 | - | 775 |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 4276-011-015 | Improvements Assessment | $328,093 |
| Land Assessment | $2,406,018 | Total Assessment | $2,734,111 |
PROPERTY TAXES
Parcel Number
4276-011-015
Land Assessment
$2,406,018
Improvements Assessment
$328,093
Total Assessment
$2,734,111
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5 Unit Multi-Family | 1231-1233 17th St
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