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2511 4th St 3 Unit Apartment Building Offered at $2,350,000 at a 5% Cap Rate Santa Monica, CA 90405
INVESTMENT HIGHLIGHTS
- Fully Vacant Opportunity: Front SFR (1,700 SF) 3Bed+2Bath + two rear units (1) 2Bed+1Bath, (1) 1Bed+1Bath — ideal for owner-user or investor
- Prime Location: 5,419 SF lot near the beach, shops, and dining.
- Rent Control Exemption: Owner-users may qualify for an exemption from Santa Monica City rent control
- Strong Upside: Priced at $775/SF with comps at $1,300–$1,500/SF (ARV $4M+)
- Flexible Uses: Expansive yard and four-car parking, with rear units perfect for rental income, guests, or creative spaces such as an office/gym/studio
EXECUTIVE SUMMARY
Welcome to 2511 4th Street, a FULLY VACANT blank canvas ready for an owner-user or savvy investor looking to reimagine a single-family residence with two flexible units. Priced at $775 per square foot, this value-add asset offers significant upside, with renovated comparables exceeding $1,300–$1,500 per square foot and an estimated ARV of $4M+. Situated on a 5,419 sq. ft. lot in one of Santa Monica’s most desirable pockets—just off 4th Street and walking distance to the ocean, shops, and dining—the property includes a 1,700 sq. ft., 3-bedroom, 2-bath front home plus two rear units (2BD/1BA and 1BD/1BA), ideal for rental income, guests, or creative use as an office, gym, or studio. An expansive open yard separates the front and rear structures, perfect for entertaining or future enhancements like a pool. Parking includes a driveway, two-car garage, and additional rear space for a total of four spots. For owner-users, the property may qualify for an exemption from Santa Monica rent control. The potential of this property is truly unlimited—bring your contractors and stop by to see it for yourself. For a full marketing package, please see the supplementals or contact our team.
PROPERTY FACTS
| Price | $2,350,000 | No. Units | 3 |
| Price Per Unit | $783,333 | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 3,031 SF |
| Cap Rate | 5% | No. Stories | 2 |
| Gross Rent Multiplier | 14.29 | Year Built | 1920 |
| Price | $2,350,000 |
| Price Per Unit | $783,333 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 14.29 |
| No. Units | 3 |
| Property Type | Multifamily |
| Building Size | 3,031 SF |
| No. Stories | 2 |
| Year Built | 1920 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | - | 1,714 |
| 1+1 | 1 | - | 500 |
1 1
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (82)
CONTACTS
-
Robert Sillman -
Ryan Versfelt -
Cameron Samimi -
Lyon Stahl Investment Real Estate
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2511 4th St
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