1015 3rd St - Apartments FOR SALE


Santa Monica, CA 90403- Wilshire Montana
$29,950,000 USD
310-968-5303
1015 3rd St, Santa Monica, CA for Sale
$29,950,000 USD
Apartments - FOR SALE
1/70
null | 4.23% Cap Rate

1015 3rd St
Santa Monica, CA 90403
Wilshire Montana


HIGHLIGHTS

  • Generational opportunity to acquire two trophy multifamily assets totaling 46 units in a prestigious "North of Wilshire" Santa Monica location
  • Both properties extensively renovated with luxury finishes and systems:new plumbing, new electrical, split system AC, fireplaces, in-unit washer/dryer
  • Exceptional unit mix of 1-, 2-, and 3-bedroom floor plans, all designed to maximize natural light
  • Prime location steps from the Pacific Ocean, Montana Avenue, and Santa Monica’s finest dining, retail, and cultural amenities
  • Opportunity to establish a dominant rental footprint in one of the most supply-constrained and prestigious rental markets in Los Angeles
  • Irreplaceable coastal real estate with high barriers to entry and limited future multifamily development potential

OVERVIEW

Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is proud to present a generational opportunity to acquire two premier, extensively renovated apartment buildings in the coveted North of Wilshire neighborhood of Santa Monica: 1015 3rd Street and 1133 10th Street. Together, these assets total 46 units and offer investors the ability to establish a commanding rental presence in one of the most supply-constrained and high-barrier-to-entry markets in the country. 1015 3rd Street (25 units) and 1133 10th Street (21 units) have both undergone transformative renovations with no expense spared. Across both properties, the majority of units feature brand-new plumbing and electrical systems, split system air conditioning, fireplaces, in-unit washer/dryers, enhanced soundproofing on walls, floors, and ceilings, stainless steel appliances, new cabinetry, vanities, closets, and upgraded finishes throughout. The result is a portfolio of luxury residences designed to satisfy Santa Monica’s most discerning tenant base. Situated just blocks from the Pacific Ocean, Montana Avenue’s boutiques and cafes, and Santa Monica’s renowned fine dining, shopping, and entertainment, the properties blend timeless courtyard-style architecture with state-of-the-art interiors, making them irreplaceable assets in one of Los Angeles’ most sought after coastal enclaves.

FOR SALE DETAILS

PRICE

$29,950,000 USD

PRICE/SF

$1,624 USD /SF

# OF UNITS

46

PRICE/UNIT

$651,087

CAP RATE

4.23%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

TWO Trophy Properties in A+ Locations

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.78 AC

LAND SF

33,768 SF

ZONING

R4

APN/PARCEL ID

4281-027-032,4292-019-014

ASK ABOUT THIS PROPERTY

Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

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Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

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