1236 21st St - Apartments FOR SALE


Santa Monica, CA 90404- Mid-City Santa Monica
$2,800,000 USD
310-202-9166
1236 21st St, Santa Monica, CA for Sale
$2,800,000 USD
Apartments - FOR SALE
1/19
null | 5.49% Cap Rate

1236 21st St
Santa Monica, CA 90404
Mid-City Santa Monica


OVERVIEW

***OFFER DEADLINE MONDAY 1/26 3PM*** BUYERS THAT SUBMIT OFFERS WILL BE INVITED TO A SELLER SPONSORED INSPECTION WED 1/28 12PM TO HAVE AN OPPORTUNITY TO COME BACK WITH A BEST AND FINAL OFFER AFTER ALL OF THE DUE DILIGENCE ITEMS AND INSPECTION REPORTS HAVE BEEN REVIEWED***. Rare Santa Monica Value-Add Opportunity – 5 Units with Major Vacancy Located on a prime stretch of 21st Street between Wilshire Boulevard and Arizona Avenue, just steps from St. John’s Hospital, this exceptional 5-unit multifamily property presents a rare opportunity for investors and owner-users alike. ?? 4 out of the 5 units DELIVERED VACANT! ?? Opportunities like this are extremely rare in Santa Monica, making this asset ideal for a value-add investor or an owner-user seeking flexibility, upside, and long-term appreciation in one of the Westside’s most desirable rental markets. Unit Mix • (1) Spacious 3 Bedroom / 2 Bathroom townhouse-style unit – Delivered vacant and ready for a full remodel, offering significant upside. • (4) Well-laid-out 2 Bedroom / 2 Bathroom units – Rent-ready in their current condition. • All units feature dishwashers Property Features • On-site laundry room • Dedicated storage areas • Separately metered units • Ample on-site parking located at the rear of the property Affordable Unit • (1) unit is designated “Affordable” • Previous tenant (recently vacated) was paying $3,080/month, providing strong baseline income with vacancy flexibility. Investment Highlights • Exceptional vacancy upside in a tightly controlled rent market • Prime Santa Monica location near medical, retail, dining, and transit • Ideal for value-add investors or owner-users • Rare chance to acquire a Santa Monica property with this level of immediate control This is a unique opportunity to reposition a multifamily asset in one of the most sought-after rental markets in Southern California. Properties with this many vacant units in Santa Monica are nearly unheard of — this will not last.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$484 USD /SF

# OF UNITS

5

PRICE/UNIT

$560,000

CAP RATE

5.49%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,543 SF

ZONING

SMR2*

APN/PARCEL ID

4276-014-008

ASK ABOUT THIS PROPERTY

Dave MillerMiller & Desatnik Realty Corp.More Info
310-202-9166

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Dave MillerMiller & Desatnik Realty Corp.More Info
310-202-9166

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