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921-925 16th St 6 Unit Apartment Building $5,595,000 ($932,500/Unit) 4.60% Cap Rate Santa Monica, CA 90403
Investment Highlights
- Positioned Steps From Montana Avenue With Premier Walkability
- Offers Assumable Below-Market Financing At A Favorable 3.5 Percent Rate
- Delivers Consistent Tenant Demand In A Highly Sought-After Santa Monica Location
- Features Remodeled Units With Stylish Finishes And Modern Amenities
- Provides Clear Value-Add Potential Through Expansion Opportunities
- Includes Practical Conveniences Such As Bike Storage And Ample Parking
Executive Summary
Occupy one of the stunning three-bedroom townhome-style units and enjoy the best of Santa Monica living while your property generates income alongside you. Thoughtfully designed with modern finishes, spacious layouts, and private outdoor areas, these homes offer comfort and style just steps from Montana Avenue's premier dining, cafes, and retail, including local favorites like Bread Head, Lalaland Kind Cafe, Whole Foods, and Williams Sonoma. Beyond the lifestyle appeal, the property offers an assumable 3.5% loan that provides rare access to below-market financing, significantly enhancing cash flow and overall returns from day one. The total six remodeled units are well-positioned for strong tenant demand, supported by desirable amenities such as private patios in select units, ample parking, storage, bike storage, shared laundry, and tankless water heaters. Additional upside exists with the potential to add one to two units, unlocking up to $100,000 in projected annual income, creating a unique opportunity that combines immediate livability with long-term financial growth. Drive by only. Interior access provided with accepted offer. Please do not disturb tenants.
Property Facts
| Price | $5,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $932,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.60% | Building Size | 5,268 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Zoning | R2, Santa Monica - Two-Family Dwellings | ||
| Price | $5,595,000 |
| Price Per Unit | $932,500 |
| Sale Type | Investment |
| Cap Rate | 4.60% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,268 SF |
| No. Stories | 2 |
| Year Built | 1927 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | R2, Santa Monica - Two-Family Dwellings |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Storage Space
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
Very walkable
80/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4281-002-021 | Improvements Assessment | $2,190,021 |
| Land Assessment | $2,367,592 | Total Assessment | $4,557,613 |
Property Taxes
Parcel Number
4281-002-021
Land Assessment
$2,367,592
Improvements Assessment
$2,190,021
Total Assessment
$4,557,613
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921-925 16th St
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