$ 4,075,000
-
$4,075,000
Price -
4
Bed -
5
Bath -
7,192
SqFt -
0.17
Acre
NEW! Buy and sell safely with virtual options - Learn More
About the Listing SR8595008 - F207057973
The Fifth & Montana is a 10-unit multifamily property located at 848 5th Street in Santa Monica's Wilshire-Montana neighborhood, approximately one block south of Montana Avenue. The property offers strong in-place income, 12 parking spaces for 10 units, and approximately 21.41% rental upside. Current NOI is estimated at approximately $225,450, with a 5.53% current cap rate. At market rents, projected NOI is approximately $294,231 with a projected 7.22% market cap rate. Built in 1956 and 1964, the two-building property comprises approximately 7,192 square feet on an approximately 7,492-square-foot lot. The unit mix includes three studios, six one-bedroom units, and a townhome-style three-bedroom, three-bath front residence. The three-bedroom residence features generously sized bedrooms and bathrooms, a fireplace, washer/dryer hookups, a large deck, and a residential-scale layout. The property provides 12 parking spaces, consisting of seven subterranean spaces and five rear alley garage spaces. Six of the ten units have undergone renovations, including three remodeled since 2024. Additional improvements include a roof overlay completed in early 2024, Vulkem deck work completed in 2023, recent exterior painting, and staircase improvements. Select units feature updated kitchens and baths, stainless steel appliances, hardwood-style flooring, exposed-beam ceilings, and outdoor space. The property also includes a dedicated laundry room and landscaped common areas. The location offers proximity to Montana Avenue's restaurants, retailers, cafes, boutiques, and services, as well as Palisades Park, the Santa Monica coastline, Downtown Santa Monica, Third Street Promenade, and Santa Monica Place. The property has a 95 Bike Score®—Biker's Paradise and an 84 Walk Score®—Very Walkable. Nearby healthcare, education, technology, and entertainment employers contribute to a diverse Santa Monica employment base.
Listing Highlights for 848 5th St
Interior Details
- Bedrooms: 4
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Rectangular Lot,No Land Lease
- Garage Capacity: 5 car
- Parking Spaces: 12
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Underground,Garage
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4292016010
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
848 5th St Santa Monica, CA 90403
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
