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1837 18th St
Santa Monica, CA 90404
1990s Construction 7 Unit in Santa Monica! · Multifamily Property For Sale
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7 Units
Investment Highlights
- Prime Santa Monica Investment | Located in one of the most sought-after rental markets, this well-maintained 1990 construction asset is very rare.
- Strong Day-1 Return Upside | Priced at a 5.24% cap rate and 12.82 GRM on current income, with substantial rent growth potential and one unit vacant.
- Strong Unit Mix | Features six spacious 2-bedroom/2-bath units and one large 3-bedroom/2-bath unit, all with in-unit washer/dryer hookups.
- Recent Capital Improvements | Ownership has recently tented the property for termites, replaced the roof with a 15-year warranty, and upgraded units.
- Favorable Rent Control Status | Four units are not subject to rent control; three units have a deed restriction until 2045.
- Outstanding Parking | 13 subterranean parking spaces plus 3 single-car garages—an unmatched parking amenity in Santa Monica.
Property Facts
| No. Units | 7 | Building Size | 7,200 SF |
| Property Type | Multifamily | Average Occupancy | 86% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1990 |
| Building Class | B | Parking Ratio | 2.22/1,000 SF |
| Lot Size | 0.19 AC | ||
| Zoning | R2, Santa Monica | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 7,200 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1990 |
| Parking Ratio | 2.22/1,000 SF |
| Zoning | R2, Santa Monica |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Oven
- Views
- Patio
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 6 | $2,216 | - |
| 3+2 | 1 | $4,700 | - |
Property Taxes
| Parcel Number | 4274-012-015 | Improvements Assessment | $1,042,793 |
| Land Assessment | $1,593,164 | Total Assessment | $2,635,957 |
Property Taxes
Parcel Number
4274-012-015
Land Assessment
$1,593,164
Improvements Assessment
$1,042,793
Total Assessment
$2,635,957
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