1813 9th St - Apartments FOR SALE


Santa Monica, CA 90404
$2,800,000 USD
310-550-2508
1813 9th St, Santa Monica, CA for Sale
$2,800,000 USD
Apartments - FOR SALE
1/15
null | 4.85% Cap Rate

1813 9th St
Santa Monica, CA 90404


HIGHLIGHTS

  • Excellent Unit Mix of 2 (2+1.5’s) and 4 (3+2’s)
  • Half of the Units are Townhouse-Style Units
  • Significant Capital Improvements including a Newer Roof, Copper Plumbing, Electrical Upgrades, and a Newer Water Heater
  • Select Units have been Extensively Upgraded with Designer Finishes
  • True Value-Add Opportunity with Current Rents ±49% Under Market
  • Exceptional Market Fundamentals 2024 Average Home Value of $1,703,436 and 2024 Average Household Income of $174,679

OVERVIEW

Built in 1963, on a ±7,485 square foot R2 lot, 1813 9th Street is a two-story, six-unit multifamily property with a total building size of ±7,763 square feet. The well-maintained property is separately metered for gas and electric, is serviced by a central water heater, and offers an on-site laundry facility, one two-car garage, and five carport parking spaces with storage bins. In recent years, the property has seen significant capital improvements including a new roof, copper plumbing in most units, an updated electrical panel in laundry room, and a newer water heater. Additionally, two units have been extensively upgraded to include individual tankless water heaters and in-unit laundry. 1813 9th Street boasts an exceptional unit mix of two two-bedroom/one-and-one-half-bathroom townhouse-style units, three three-bedroom/two-bathroom units, and one three-bedroom/two-bathroom townhouse-style unit. The oversized units offer gas stoves, refrigerators, ceiling fans, forced heat or wall units for heating, upgraded flooring, ample closet and storage space, and a balcony or patio in select units. The two extensively upgraded units are equipped with stackable laundry systems, brand-new kitchens with new shaker cabinetry, quartz countertops, stainless-steel appliances (gas stove, refrigerator, microwave, and dishwasher), ceiling fans, brand-new bathrooms, designer fixtures and hardware, dual pane windows, upgraded flooring, new lighting, and updated electrical panels.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$361 USD /SF

# OF UNITS

6

PRICE/UNIT

$466,667

CAP RATE

4.85%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Santa Monica Location | 6 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,485 SF

ZONING

SMR2*

APN/PARCEL ID

4283-021-004

ASK ABOUT THIS PROPERTY

Priscilla NeeCBRE, Inc.More Info
310-550-2508

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Priscilla NeeCBRE, Inc.More Info
310-550-2508

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