1523 18th St - Apartments FOR SALE


Santa Monica, CA 90404
$2,225,000 USD
310-717-9405
1523 18th St, Santa Monica, CA for Sale
$2,225,000 USD
Apartments - FOR SALE
1/17
null | 4.62% Cap Rate

1523 18th St
Santa Monica, CA 90404


HIGHLIGHTS

  • Well located garden apartment building
  • Newly landscaped and trim painted
  • 5 of 6 units have private patios
  • 9 off-street covered parking
  • On-site laundry room
  • Auto timer for sprinklers

OVERVIEW

As of September 1, 2024, landlord raised rents and passed through allowable expenses (Rent Control fees & Property Tax Bill) per the rent control ordinance of the City of Santa Monica. In October 2024 the landlord performed maintenance on the property not limited to having Western Exterminator perform a termite inspection and subsequent repairs to exterior facia, ceiling infestation in one apartment, minor repair to exterior side gate north side of apartment one, replaced drain cap to for drain inspection pipe in garage and patched the wall, replaced wood slats for several apartment patios, minor roof patching, main drain inspection by Santa Monica drain company, no corrective measures were deemed necessary, some smoke and carbon monoxide detectors were updated or replaced and minor exterior paint touch up.

FOR SALE DETAILS

PRICE

$2,225,000 USD

PRICE/SF

$425 USD /SF

# OF UNITS

7

PRICE/UNIT

$317,857

CAP RATE

4.62%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,484 SF

ZONING

SMR2*

APN/PARCEL ID

4275-013-025

ASK ABOUT THIS PROPERTY

Bruce KusadaCapital RE GroupMore Info
310-717-9405

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Bruce KusadaCapital RE GroupMore Info
310-717-9405

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.