$ 5,199,000
-
$5,199,000
Price -
12
Bed -
11
Bath -
7,494
SqFt -
0.17
Acre
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About the Listing SB1310620 - SBSAMICAM
An exceptional opportunity to acquire a meticulously remodeled 11-unit apartment building in one of Santa Monica’s most coveted North of Wilshire locations. 1017 5th Street offers the rare combination of a true trophy-quality location, high-end renovated units and investment returns that are exceedingly difficult to find in prime Santa Monica. Offered at $5,199,000, the property generates a compelling 5.75% current cap rate and 12.39 GRM, providing investors with unusually strong in-place cash flow for an asset of this quality and location. The investment becomes even more compelling on pro forma rents, reaching approximately a 7.13% cap rate and 12.39 GRM, with roughly 19% remaining rental upside. The property has undergone extensive upgrades and features beautifully remodeled, high-end units designed to attract Santa Monica’s premium renter base. This is not a heavy value-add project requiring years of construction, tenant turnover and capital expenditures. The work has largely been done, creating an exceptionally easy-to-own and easy-to-manage asset with strong income from day one.
Listing Highlights for 1017 5th
Interior Details
- Bedrooms: 12
- Bathrooms: 11 Full
- Appliances: Dryer, Washer
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: Private
Exterior Details
- Lot Description: 11-15 Units/Acre,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 13
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Covered,Tandem
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4292011018
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1017 5th Santa Monica, CA 90403
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