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1937 17th St 6 Unit Apartment Building $2,295,000 ($382,500/Unit) 6% Cap Rate Santa Monica, CA 90404
Investment Highlights
- Half a block from Santa Monica College
- 17th Street between Pico Boulevard and Delaware Avenue
Executive Summary
Property consists of two separate structures, a double-car garage plus eight open parking spaces serviced by a rear alley. The front building has five units including one 3 BD/1 & 1/2 BA unit and four 2BD/1BA units. The rear building is a 2 BD/1 BA single family house. Great rent income upside on tenant turnover.
Property Facts
| Price | $2,295,000 | Apartment Style | Low-Rise |
| Price Per Unit | $382,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6% | Building Size | 4,840 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 2.07/1,000 SF |
| Zoning | SMR2* - Residential | ||
| Price | $2,295,000 |
| Price Per Unit | $382,500 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 4,840 SF |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 2.07/1,000 SF |
| Zoning | SMR2* - Residential |
Amenities
Unit Amenities
- Refrigerator
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | - | - |
| 3+2 | 1 | - | - |
1 1
Walk Score®
Very Walkable (84)
Bike Score®
Biker's Paradise (97)
Property Taxes
| Parcel Number | 4274-014-019 | Improvements Assessment | $532,959 |
| Land Assessment | $1,879,990 | Total Assessment | $2,412,949 |
Property Taxes
Parcel Number
4274-014-019
Land Assessment
$1,879,990
Improvements Assessment
$532,959
Total Assessment
$2,412,949
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1937 17th St
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