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1916-1930 Arizona Ave 9 Unit Apartment Building $3,095,000 ($343,889/Unit) 5.21% Cap Rate Santa Monica, CA 90404
Investment Highlights
- 9 Unit Apartment Building for sale by owner in the heart of Santa Monica! Positioned on a desirable corner lot with “Healthcare Mixed-Use” zoning.
- Recent renovations completed by owner on multiple units.
- Building amenities include (5) 1-car garages, in-building coin-op laundry, exterior unit access, well-maintained landscaping, and garden areas.
- An excellent mix of unit formats, no vacancies, and desirable location make this property an excellent investment—providing strong cash-flow.
- Located in a charming neighborhood between 19th and 20th St on Arizona Ave. Across from both Tartine bakery and Providence Saint John’s Medical Center
Executive Summary
9 Unit Apartment Building for sale by owner in the heart of Santa Monica! Positioned on a desirable corner lot with “Healthcare Mixed-Use” zoning. An excellent mix of unit formats, recent renovations, and desirable location make this property an excellent investment—providing both strong cash-flow and medical development potential. Fully rented — zero vacancies!
Investment Highlights:
- Santa Monica Healthcare Mixed-Use zoning
- Offered at strong CAP and low GRM
- 100% occupied—fully rented!
- Centrally located near retail, medical, schools, and entertainment corridors
- Recent renovations to multiple units, below market rent with NOI growth potential
Investment Highlights:
- Santa Monica Healthcare Mixed-Use zoning
- Offered at strong CAP and low GRM
- 100% occupied—fully rented!
- Centrally located near retail, medical, schools, and entertainment corridors
- Recent renovations to multiple units, below market rent with NOI growth potential
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$249,254
|
$41.52
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,478
|
$1.25
|
| Effective Gross Income |
$241,776
|
$40.28
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$80,585
|
$13.42
|
| Net Operating Income |
$161,191
|
$26.85
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $249,254 |
| Annual Per SF | $41.52 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,478 |
| Annual Per SF | $1.25 |
| Effective Gross Income | |
|---|---|
| Annual | $241,776 |
| Annual Per SF | $40.28 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $80,585 |
| Annual Per SF | $13.42 |
| Net Operating Income | |
|---|---|
| Annual | $161,191 |
| Annual Per SF | $26.85 |
Property Facts
| Price | $3,095,000 | Apartment Style | Low-Rise |
| Price Per Unit | $343,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.21% | Building Size | 6,003 SF |
| Gross Rent Multiplier | 12.42 | No. Stories | 2 |
| No. Units | 9 | Year Built/Renovated | 1946/2025 |
| Property Type | Multifamily | Parking Ratio | 0.83/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | SMHMU - Santa Monica Healthcare Mixed-Use Zoning | ||
| Price | $3,095,000 |
| Price Per Unit | $343,889 |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| Gross Rent Multiplier | 12.42 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,003 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1946/2025 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | SMHMU - Santa Monica Healthcare Mixed-Use Zoning |
Amenities
- Smoke Detector
Unit Amenities
- Disposal
- Storage Space
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Breakfast Nook
- Patio
- Smoke Free
- Window Coverings
Site Amenities
- Laundry Facilities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 4 | - | - |
| 2+2 | 2 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 4276-028-001 | Improvements Assessment | $602,731 |
| Land Assessment | $1,130,132 | Total Assessment | $1,732,863 |
Property Taxes
Parcel Number
4276-028-001
Land Assessment
$1,130,132
Improvements Assessment
$602,731
Total Assessment
$1,732,863
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