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2117 Stewart St 4 Unit Apartment Building $1,965,000 ($491,250/Unit) 3.06% Cap Rate Santa Monica, CA 90404
Investment Highlights
- Garage can be turned into ADU
- We can provide 2 units vacant to remodel and increase the rent
- The owner is occupying two garages that could be rented
- Less than 3 miles from the beach
- Detached 4-car garage with one gated additional parking space
Executive Summary
Whether you're looking for your next savvy investment or want to make the most out of your purchase, don't pass up this incredible opportunity inSanta Monica! Situated with easy access to major freeways, the property is just half a mile from Virginia Ave Park and a quick three-mile trip to theiconic Santa Monica Pier. This prime location combines the charm of a quiet neighborhood with the convenience of proximity to the city's vibrantlifestyle offerings. Along a tree-lined street in a prime location, this excellent property features (4) units, each separately metered for gas andelectric. Discover (3) units, 1-bedroom, 1-bath layouts on the main level and (1) large unit, 2-bedroom, 1-bath upstairs. The optimal design allowsyou to secure a quadruple income or live in one while renting the others. Find extensive updates across 3 units, including freshly painted walls, newly installed flooring, stainless steel appliances, and revamped fixtures. You'll also have remodeled baths, along with access to private patiosoverlooking the lush landscaping and mature fruit trees. Convenience is yours with in-unit laundry hookups available. Plus, the 5,600 sq ft propertyaccommodates 4-car garages, an additional 1 parking space, and off-street parking for an additional vehicle. With SMR2 zoning on a triple cornerlot, you'll have plenty of room for expansion or redevelopment options. As a premium bonus, two-car garages occupied by the owner can be addedto the units' income, along with potential income from an ADU or from renting the additional garages. Limitless possibilities await you in this raregem that surely won't last long. So, what are you waiting for?
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$92,724
|
$36.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$92,724
|
$36.45
|
| Taxes |
-
|
-
|
| Operating Expenses |
$32,604
|
$12.82
|
| Total Expenses |
$32,604
|
$12.82
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $92,724 |
| Annual Per SF | $36.45 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $92,724 |
| Annual Per SF | $36.45 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $32,604 |
| Annual Per SF | $12.82 |
| Total Expenses | |
|---|---|
| Annual | $32,604 |
| Annual Per SF | $12.82 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Washer/Dryer Hookup
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Yard
- Garden
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,750 | - |
| 1+1 | 3 | $4,977 | - |
1 1
Walk Score®
Very Walkable (81)
Bike Score®
Biker's Paradise (90)
Property Taxes
| Parcel Number | 4274-031-014 | Improvements Assessment | $169,534 |
| Land Assessment | $1,820,524 | Total Assessment | $1,990,058 |
Property Taxes
Parcel Number
4274-031-014
Land Assessment
$1,820,524
Improvements Assessment
$169,534
Total Assessment
$1,990,058
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2117 Stewart St
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