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1824 10th St 6 Unit Apartment Building $2,700,000 ($450,000/Unit) 5.51% Cap Rate Santa Monica, CA 90404
INVESTMENT HIGHLIGHTS
- * Outdoor Spaces: 5 LARGE & PRIVATE OUTDOOR SPACES with LOTS OF LIGHT
- * Interior Upgrades: Clean, modern updates throughout each unit
- * Investment Upside: Solid long-term hold with room for future growth
- * Turn-Key Condition: Professionally managed and in excellent condition
- * Strong Tenancy: Stable rent roll with high-quality tenants
EXECUTIVE SUMMARY
5 LARGE & PRIVATE OUTDOOR SPACES with LOTS OF LIGHT make this a Gem for owners and renters alike. In a sea of box like rental units the discerning buyer and renter will choose this property every time!... Newly offered at a 5.5% Cap rate and 12.88GRM, this turn-key 6-unit is an exceptional value for the investor that wants a stand out product in a desirable market. Expertly managed and maintained inside and out with upgraded interiors and curated exteriors; the current owners have ensured ease of ownership. A fully permitted ADU has been added to the property so to further capture high area rents. This is a most attractive asset for todays post Covid renters who are willing to pay a premium for modern conveniences with quiet, private and light filled outdoor space. Due to its unique appeal this property should continue to provide stable returns for its lucky new owner!!!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$207,048
|
$64.20
|
| Other Income |
$2,628
|
$0.81
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$209,676
|
$65.02
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $207,048 |
| Annual Per SF | $64.20 |
| Other Income | |
|---|---|
| Annual | $2,628 |
| Annual Per SF | $0.81 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $209,676 |
| Annual Per SF | $65.02 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $2,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $450,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.51% | Building Size | 3,225 SF |
| Gross Rent Multiplier | 12.88 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1952 |
| Property Subtype | Apartment | Parking Ratio | 1.55/1,000 SF |
| Zoning | R2 | ||
| Price | $2,700,000 |
| Price Per Unit | $450,000 |
| Sale Type | Investment |
| Cap Rate | 5.51% |
| Gross Rent Multiplier | 12.88 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,225 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1952 |
| Parking Ratio | 1.55/1,000 SF |
| Zoning | R2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Vaulted Ceiling
- Refrigerator
- Tub/Shower
- Walk-In Closets
- Yard
- Deck
- Porch
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+2 | 1 | $3,427 | - |
| Studios | 2 | $2,535 | - |
| 2+1 | 1 | $3,567 | - |
| 1+1 | 2 | $3,095 | - |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (73)
Bike Score®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 4283-022-006 | Improvements Assessment | $475,734 (2025) |
| Land Assessment | $2,187,291 (2025) | Total Assessment | $2,663,025 (2025) |
PROPERTY TAXES
Parcel Number
4283-022-006
Land Assessment
$2,187,291 (2025)
Improvements Assessment
$475,734 (2025)
Total Assessment
$2,663,025 (2025)
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1824 10th St
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