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2517 20th St 5 Unit Apartment Building $2,485,000 ($497,000/Unit) 4.69% Cap Rate Santa Monica, CA 90405
Executive Summary
This is a charming 5-unit residential property located at 2517 20th Street that's just waiting for the right investor. Built in 1938 and beautifully remodeled, this property has strong curb appeal and offers long-term growth potential.
Inside, you'll find three bright and airy 1-bed/1-bath units and two spacious 2-bed/1-bath units. Four out of the five units have been remodeled with stylish modern finishes including refinished hardwood floors, quartz/granite counters, and tiled showers. Three of the units feature in-unit laundry, the other two units have private laundry inside their garage. Other recent upgrades include a new roof installed on the rear building in January 2025 and in late 2024 the front building was recoated. All units include parking: two of the front units have individual enclosed garages; three units have assigned parking. The foundation work is 100% complete, and all soft-story retrofitting will be wrapped up by March 2026, giving you a building that is fully stabilized and ready to go.
Prime Santa Monica location near transportation, schools, shopping, parks and the best that Santa Monica has to offer. The current tenants are great professionals, and the property is in excellent condition. Plus, there's a stellar property management company already in place to
make things even smoother.
This is a golden chance for steady cash flow in a market that just keeps getting better. Let's chat about how this incredible property can fit into your investment goals!
Inside, you'll find three bright and airy 1-bed/1-bath units and two spacious 2-bed/1-bath units. Four out of the five units have been remodeled with stylish modern finishes including refinished hardwood floors, quartz/granite counters, and tiled showers. Three of the units feature in-unit laundry, the other two units have private laundry inside their garage. Other recent upgrades include a new roof installed on the rear building in January 2025 and in late 2024 the front building was recoated. All units include parking: two of the front units have individual enclosed garages; three units have assigned parking. The foundation work is 100% complete, and all soft-story retrofitting will be wrapped up by March 2026, giving you a building that is fully stabilized and ready to go.
Prime Santa Monica location near transportation, schools, shopping, parks and the best that Santa Monica has to offer. The current tenants are great professionals, and the property is in excellent condition. Plus, there's a stellar property management company already in place to
make things even smoother.
This is a golden chance for steady cash flow in a market that just keeps getting better. Let's chat about how this incredible property can fit into your investment goals!
Property Facts
| Price | $2,485,000 | Building Class | C |
| Price Per Unit | $497,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,219 SF |
| Cap Rate | 4.69% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1938/2026 |
| Property Subtype | Apartment | Parking Ratio | 1.55/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R2, Santa Monica - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations | ||
| Price | $2,485,000 |
| Price Per Unit | $497,000 |
| Sale Type | Investment |
| Cap Rate | 4.69% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,219 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1938/2026 |
| Parking Ratio | 1.55/1,000 SF |
| Zoning | R2, Santa Monica - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Dining Room
- Garden
- Linen Closet
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Gated
- Storage Space
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 550 |
| 2+1 | 2 | - | 660 |
1 1
Very walkable
80/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4273-019-010 | Improvements Assessment | $480,737 |
| Land Assessment | $1,562,401 | Total Assessment | $2,043,138 |
Property Taxes
Parcel Number
4273-019-010
Land Assessment
$1,562,401
Improvements Assessment
$480,737
Total Assessment
$2,043,138
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2517 20th St
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