• 15-unit property totaling 8,822 square feet, ideally located one mile from the beach and Main Street in prime Santa Monica • First time on the market in 18 years, presenting a rare opportunity to acquire a well-located, historically highly occupied asset with upside • Competitively priced below replacement cost at $394 per square foot and $231,667 per unit • Opportunity for an investor to achieve a 8.84% pro forma cap rate • The property’s average rent of $1,587 is significantly below the submarket average of approximately $3,800, offering an astute investor the opportunity to acquire affordable housing with exceptional upside potential • Residents benefit from a rare roof deck with ocean views, a community laundry room, and 15 covered parking spaces • Recent capital improvements include new electrical panels completed in 2025, a new roof installed in 2024, and a completed soft story retrofit • Ideally located steps from Santa Monica College, which enrolls over 26,000 students and employs nearly 2,000 faculty members, the property benefits from strong rental demand driven by the college's lack of on-campus housing • The property offers an attractive assumable loan with a 3.44% interest rate, approximately two years remaining, and a $2 million balance, providing positive leverage