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1446-1448 Yale St 7 Unit Apartment Building $3,250,000 ($464,286/Unit) 6.04% Cap Rate Santa Monica, CA 90404
Investment Highlights
- Six (6) Two-Bedroom/Two-Bath and One (1) One-Bedroom/One-Bath Units
- Prime Santa Monica Location — Steps from Montana Ave, Third Street Promenade, and the Pacific Ocean
- 100% Occupied by High-Income, Creditworthy Tenants
- Comprehensively Gut-Renovated in 2018 — High-End Finishes Throughout
- Resort-Style Courtyard with BBQ Lounge and Gated Security
- One of the Highest In-Place Cap Rates Available in the Santa Monica Multifamily Market
Executive Summary
1446-1448 Yale St presents a rare opportunity to acquire a seven-unit bungalow asset in one of the most coveted coastal markets in the country.
Situated just moments from Montana Avenue, the Third Street Promenade, and the Pacific Ocean, residents enjoy unmatched access to world-class dining, shopping, and entertainment. The property sits on a 9,000 SF lot with ±4,014 SF of rentable space, consisting of six (6) two-bedroom, two-bath units and one (1) one-bedroom, one-bath unit. Comprehensively gut-renovated in 2018, every unit features high-end kitchens, designer bathrooms, luxury flooring, updated systems, and in-unit washer/dryer. A beautifully landscaped courtyard with a BBQ lounge and gated security complete the resort-style living experience. All units are occupied by high-income, creditworthy tenants generating one of the strongest in-place cap rates available in the Santa Monica market — with no comparable opportunity currently on the market. 1446-1448 Yale St is a true trophy coastal asset built to perform.
Situated just moments from Montana Avenue, the Third Street Promenade, and the Pacific Ocean, residents enjoy unmatched access to world-class dining, shopping, and entertainment. The property sits on a 9,000 SF lot with ±4,014 SF of rentable space, consisting of six (6) two-bedroom, two-bath units and one (1) one-bedroom, one-bath unit. Comprehensively gut-renovated in 2018, every unit features high-end kitchens, designer bathrooms, luxury flooring, updated systems, and in-unit washer/dryer. A beautifully landscaped courtyard with a BBQ lounge and gated security complete the resort-style living experience. All units are occupied by high-income, creditworthy tenants generating one of the strongest in-place cap rates available in the Santa Monica market — with no comparable opportunity currently on the market. 1446-1448 Yale St is a true trophy coastal asset built to perform.
Property Facts Under Contract
| Price | $3,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $464,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 6.04% | Building Size | 4,014 SF |
| No. Units | 7 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1961/2018 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Zoning | SMR2* - Residential | ||
| Price | $3,250,000 |
| Price Per Unit | $464,286 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 4,014 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1961/2018 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | SMR2* - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Grill
- Lawn
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Laundry Facilities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 2+2 | 6 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4267-019-021 | Improvements Assessment | $1,470,000 |
| Land Assessment | $4,400,000 | Total Assessment | $5,870,000 |
Property Taxes
Parcel Number
4267-019-021
Land Assessment
$4,400,000
Improvements Assessment
$1,470,000
Total Assessment
$5,870,000
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1446-1448 Yale St
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