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2122 20th St
Santa Monica, CA 90405
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Six-unit multifamily property in Sunset Park, a supply-constrained Santa Monica neighborhood.
- Assumable 4% fixed-rate financing available through November 2026.
- Close to Santa Monica College, global entertainment hubs, and popular beach destinations.
- Two vacant units offer immediate rental growth potential or owner-user occupancy.
- Opportunity to create added value through ADU conversion of garages and storage (buyer to verify).
- Convenient access to I-10, Downtown Santa Monica, major employment hubs, and extensive retail and dining options.
Executive Summary
4% assumable interest rate until November 2026! Exceptional six-unit investment opportunity in a prime Santa Monica location, just moments from Santa Monica College. This well-positioned multifamily property features six spacious 1-bedroom, 1-bathroom units, offering strong rental appeal in one of the Westside's most desirable and supply-constrained rental markets.With two vacant units, investors benefit from immediate upside potential through lease-up at market rents or the flexibility for an owner-user strategy. The property currently generates $179,604 in gross annual income, reflecting a 13.64 GRM and a 5% cap rate making it a compelling addition to any multifamily portfolio.Value-add opportunity: The rear storage area and existing garages present excellent potential for ADU conversion (buyer to verify), creating a meaningful opportunity to increase unit count and substantially enhance long-term cash flow and asset value.Tenants enjoy close proximity to world-class beaches, premier shopping and dining, and convenient access to major employment hubs throughout the Westside and Greater Los Angeles area. This is a rare opportunity to acquire a stable coastal asset with built-in upside in one of Southern California's most sought-after communities.
Property Facts
| Price Per Unit | $383,333 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.56% | Lot Size | 0.18 AC |
| Gross Rent Multiplier | 12.81 | Building Size | 3,008 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Zoning | SMR2* - Multiple dwelling | ||
| Price Per Unit | $383,333 |
| Sale Type | Investment |
| Cap Rate | 5.56% |
| Gross Rent Multiplier | 12.81 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,008 SF |
| No. Stories | 1 |
| Year Built | 1929 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | SMR2* - Multiple dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,097 | 464 |
Property Taxes
| Parcel Number | 4273-002-004 | Improvements Assessment | $721,804 |
| Land Assessment | $1,684,213 | Total Assessment | $2,406,017 |
Property Taxes
Parcel Number
4273-002-004
Land Assessment
$1,684,213
Improvements Assessment
$721,804
Total Assessment
$2,406,017
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