$ 2,250,000
-
$2,250,000
Price -
5
Bed -
2
Bath -
4,840
SqFt
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About the Listing CLW-X82195 - CLW-X93306,CLW-C138168
The subject property is a six-unit residential income asset located at 1937 17th Street in central Santa Monica. Built in 1948 and zoned SMR2, the asset consists of (1) 3-Bedroom / 1.5-Bath unit and (5) 2-Bedroom / 1-Bath units, including a detached 2 Bedroom / 1-Bath home located towards the rear of the property, totaling 4,840 rentable square feet on a 7,746 SF lot. The property will be delivered with three vacant units at the close of escrow. Currently two units are vacant with a third unit becoming vacant at the end of August. Recent upgrades include a new roof and updated electrical systems. Tenant parking is on-site with 8 uncovered individual spaces and a 2 car garage located at the front of the property. The property delivers strong in-place cash flow at a 5.00% cap rate, with meaningful embedded upside as rents are brought to market. Potential ADU can be built as a garage conversion, buyer to verify. Positioned in Prime Santa Monica, the property sits within one block of Santa Monica College, and a short commute to Whole Foods, the Pico corridor retail, and the Bergamot Expo Line station, giving tenants a direct rail link to Downtown Santa Monica, Century City, and Downtown Los Angeles. The Santa Monica beach and pier are minutes to the west. Santa Monica remains a supply-constrained, high-demand rental market with deep renter demand from the Silicon Beach tech corridor and the long-term durability that defines Westside multifamily.
Listing Highlights
Interior Details
- Bedrooms: 5
- Bathrooms: 2 Full
- Appliances: Dishwasher, Disposal, Gas Oven, Range, Refrigerator, Range Hood
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Rectangular Lot,No Land Lease
- Garage Capacity: 2 car
- Parking Spaces: 10
- Lot Dimensions: 50x155
- Zoning: SMR2*
- Roof: Composition,Shingle
- Others: Updated/Remodeled,2+ Total Units,Has ADU
- Sewer: Other
- Parking Features: Assigned,Door-Multi,Driveway,Garage,Uncovered
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4274014019
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
1937 17th St Santa Monica, CA 90404
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