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2332 20th St 6 Unit Apartment Building Offered at $2,450,000 at a 5.25% Cap Rate Santa Monica, CA 90405
INVESTMENT HIGHLIGHTS
- High-Yield Santa Monica Opportunity: 5.25% CAP & 12.8 GRM
- Strong Unit Mix of (4) 2-Bed/1-Bath Units & (2) 1-Bed/1-Bath Units
- Front House is Fully Renovated | Upgraded Units | Main Sewer Line Replaced | Seismic Retrofit Completed
- Generating Nearly $200,000 in Gross Annual Income | 30% in Rental Upside
- Owner-User Potential with a 1,288 SF Detached House in the Front and 5-Units in the Rear
- On-Site Laundry & Five Carports with Alley Access
EXECUTIVE SUMMARY
The Harley Group at Lyon Stahl is pleased to present 2332 20th Street in Santa Monica. Operating at a 5.25% CAP rate and 12.8 GRM, this high-yield asset generates nearly $200,000 in gross annual income with over 30% in rental upside. The property features an ideal unit mix of (4) 2-bed/1-bath units and (2) 1-bed/1-bath units, along with a fully remodeled 1,288 SF detached front house, offering excellent owner-user potential.
Major capital improvements—including the renovated front house, upgraded unit interiors, main sewer line replacement, and completed seismic retrofit—provide low future maintenance and strong long-term stability. Additional amenities include on-site laundry and five carport spaces with alley access.
Just one block from Santa Monica College and moments from Ocean Park’s vibrant retail and dining, the property offers an unbeatable location with easy access to the 10 Freeway. This is a rare chance to acquire a well-maintained, income-producing building with both immediate returns and significant upside in a prime Santa Monica neighborhood.
*Please do not disturb the tenants or walk on the premises. The sale is contingent on the seller purchasing a replacement property.*
Major capital improvements—including the renovated front house, upgraded unit interiors, main sewer line replacement, and completed seismic retrofit—provide low future maintenance and strong long-term stability. Additional amenities include on-site laundry and five carport spaces with alley access.
Just one block from Santa Monica College and moments from Ocean Park’s vibrant retail and dining, the property offers an unbeatable location with easy access to the 10 Freeway. This is a rare chance to acquire a well-maintained, income-producing building with both immediate returns and significant upside in a prime Santa Monica neighborhood.
*Please do not disturb the tenants or walk on the premises. The sale is contingent on the seller purchasing a replacement property.*
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$191,304
|
$35.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,739
|
$1.06
|
| Effective Gross Income |
$185,565
|
$34.24
|
| Taxes |
$31,163
|
$5.75
|
| Operating Expenses |
$25,856
|
$4.77
|
| Total Expenses |
$57,019
|
$10.52
|
| Net Operating Income |
$128,546
|
$23.72
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $191,304 |
| Annual Per SF | $35.30 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,739 |
| Annual Per SF | $1.06 |
| Effective Gross Income | |
|---|---|
| Annual | $185,565 |
| Annual Per SF | $34.24 |
| Taxes | |
|---|---|
| Annual | $31,163 |
| Annual Per SF | $5.75 |
| Operating Expenses | |
|---|---|
| Annual | $25,856 |
| Annual Per SF | $4.77 |
| Total Expenses | |
|---|---|
| Annual | $57,019 |
| Annual Per SF | $10.52 |
| Net Operating Income | |
|---|---|
| Annual | $128,546 |
| Annual Per SF | $23.72 |
PROPERTY FACTS
| Price | $2,450,000 | Property Type | Multifamily |
| Price Per Unit | $408,333 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,420 SF |
| Cap Rate | 5.25% | Average Occupancy | 100% |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| Gross Rent Multiplier | 12.81 | Year Built | 1959 |
| No. Units | 6 |
| Price | $2,450,000 |
| Price Per Unit | $408,333 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.81 |
| No. Units | 6 |
| Property Type | Multifamily |
| Lot Size | 0.16 AC |
| Building Size | 5,420 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $4,713 | 1,288 |
| 2+1 | 1 | $2,299 | - |
| 2+1 | 1 | $2,850 | - |
| 1+1 | 1 | $1,715 | - |
| 1+1 | 1 | $1,682 | - |
| 2+1 | 1 | $2,683 | - |
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2332 20th St
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