522-532 Idaho Ave 6 Unit Apartment Building $2,700,000 ($450,000/Unit) 4.97% Cap Rate Santa Monica, CA 90403

CBRE presents 522–532 Idaho Avenue, a six-unit multifamily investment located in Santa Monica’s prestigious Wilshire-Montana neighborhood. Positioned one block south of Montana Avenue and six blocks from Palisades Park and the beachfront, this property features exceptional walkability and connectivity to Downtown Santa Monica, Pacific Coast Highway, and I-10, making it highly attractive to private investors seeking both stability and growth potential. The asset consists of six one-bedroom, one-bathroom bungalow-style units across three buildings situated on a corner lot. Half of the units will be delivered vacant, creating immediate opportunities for renovation and repositioning to capture increased rental income. Two units have already been upgraded, showcasing a renovation strategy that enhances appeal through modern kitchens, remodeled baths, new flooring, in-unit washer/dryers, and custom closets. Exterior improvements under current ownership include refreshed landscaping, fencing, new irrigation, and Spanish tile details. Offered at $2,700,000, this property provides a scheduled CAP rate of 4.97% under self-management and tremendous value-add potential as legacy rents turn over. Located in an amenity-rich neighborhood with proximity to retail, dining, and the beach, 522–532 Idaho Avenue offers a rare chance to control an easily managed asset in one of Los Angeles County’s most desirable rental markets.