823 18th St - Apartments FOR SALE


Santa Monica, CA 90403- Wilshire Montana
$2,495,000 USD
310-202-9166
823 18th St, Santa Monica, CA for Sale
$2,495,000 USD
Apartments - FOR SALE
1/12
null | 2.94% Cap Rate

823 18th St
Santa Monica, CA 90403
Wilshire Montana


HIGHLIGHTS

  • Prime Santa Monica Location - Just South of Montana Ave on 18th St
  • Excellent Unit Mix of (4) 2 BR + 1 Bath and (1) 1 BR + 1 Bath Units
  • Three Separate Structures on a Large 7,988 SF Lot
  • Value-add Opportunity with Two of the Five Tenants Paying Well Below Market Rents
  • Two Car Garage That Can Potentially Be Converted in an ADU
  • Seismic Retrofitting For Carport Parking Structure Has Been Completed

OVERVIEW

Miller & Desatnik Realty Corp. is proud to present 823 18th St, an incredible multi-family asset in a prime Santa Monica location, just south of Montana Ave. This charming five (5) unit property has a desirable unit mix of four (4) 2 BR + 1 Bath and one (1) 1 BR + 1 Bath units. The property has three separate structures with the front building consisting of two (2) 2 BR + 1 Bath units. The middle structure has two (2) 2 BR + 1 bath units. At the very rear of the property is a 1 BR + 1 Bath unit that sits on the second level above the carport parking structure. Some of the units have washer/dryer hookups. Next to the carport parking structure is a two car garage that has the potential to be converted in an ADU. Two of the five units are paying well below market rents, creating a value-add opportunity for new ownership. Strategically positioned just a few steps from Montana Ave., 823 18th St. offers unparalleled access to some of the most sought after shopping, restaurants and entertainment in all of Santa Monica. With strong in-place income, significant rental appreciation potential, and a desirable tenant base, this property is a rare chance to acquire a prime, income-generating asset in one of Los Angeles’ most sought-after neighborhoods.

FOR SALE DETAILS

PRICE

$2,495,000 USD

PRICE/SF

$578 USD /SF

# OF UNITS

5

PRICE/UNIT

$499,000

CAP RATE

2.94%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,989 SF

ZONING

R2

APN/PARCEL ID

4277-008-064

ASK ABOUT THIS PROPERTY

Errol SpiroMiller & Desatnik Realty Corp.More Info
310-202-9166

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Errol SpiroMiller & Desatnik Realty Corp.More Info
310-202-9166

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