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All Ocean View Units: Vacant Building 1661 Appian Way 12 Unit Apartment Building $6,750,000 ($562,500/Unit) Santa Monica, CA 90401
EXECUTIVE SUMMARY
Rarely does a coastal offering of this caliber ever come to market. Jonathan Taksa of the Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present 1661 Appian Way, an extraordinary opportunity to acquire a fully vacant, extensively renovated 12-unit apartment building positioned along Santa Monica’s iconic beachfront—right by the edge of the sand and within the city’s famed Hotel Row. With breathtaking ocean, pier, coastline, mountain, and city views from every unit—stretching from Palos Verdes to Malibu—this is a truly generational asset in one of Southern California’s most irreplaceable locations.
The property features an ideal unit mix of six studios and six efficiency units, thoughtfully designed with highly functional layouts. A buyer has the rare option to combine a studio with an efficiency unit, creating exceptionally large onebedroom residences—a compelling strategy to further differentiate the asset and push long-term rental performance.
Delivered 100% vacant, the building offers an immediate opportunity to set the highest market rents, eliminating any rent-control friction and allowing a new owner to capitalize on Santa Monica’s robust demand for luxury coastal rentals from day one.
The property features an ideal unit mix of six studios and six efficiency units, thoughtfully designed with highly functional layouts. A buyer has the rare option to combine a studio with an efficiency unit, creating exceptionally large onebedroom residences—a compelling strategy to further differentiate the asset and push long-term rental performance.
Delivered 100% vacant, the building offers an immediate opportunity to set the highest market rents, eliminating any rent-control friction and allowing a new owner to capitalize on Santa Monica’s robust demand for luxury coastal rentals from day one.
PROPERTY FACTS
| Price | $6,750,000 | Building Class | C |
| Price Per Unit | $562,500 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 4,368 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 3.89/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R4, Santa Monica | ||
| Price | $6,750,000 |
| Price Per Unit | $562,500 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,368 SF |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 3.89/1,000 SF |
| Zoning | R4, Santa Monica |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | 300 - 500 |
1 1
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (76)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 4290-018-007 | Improvements Assessment | $1,000,000 |
| Land Assessment | $5,400,000 | Total Assessment | $6,400,000 |
PROPERTY TAXES
Parcel Number
4290-018-007
Land Assessment
$5,400,000
Improvements Assessment
$1,000,000
Total Assessment
$6,400,000
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All Ocean View Units: Vacant Building | 1661 Appian Way
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