2921 Arizona Ave - Apartments FOR SALE


Santa Monica, CA 90404- Mid-City Santa Monica
$5,750,000 USD
310-968-5303
2921 Arizona Ave, Santa Monica, CA for Sale
$5,750,000 USD
Apartments - FOR SALE
1/54
null | 4.88% Cap Rate

2921 Arizona Ave
Santa Monica, CA 90404
Mid-City Santa Monica


HIGHLIGHTS

  • Fantastic Santa Monica location
  • Highly upgraded property
  • Two newly constructed conforming ADU units
  • Recent electrical upgrade
  • Secured off-street parking

OVERVIEW

***MAY BE PURCHASED INDIVIDUALLY OR AS PART OF A PORTFOLIO WITH 1140 N OGDEN & 8220 NORTON*** Jonathan Taksa and Rob Renshaw of RE/MAX Commercial & Investment Realty are pleased to present 2921 Arizona Ave. This 12-unit apartment building in Santa Monica offers a rare blend of stability, upside, and location, making it a highly attractive opportunity for investors seeking long-term growth in one of Los Angeles’ most coveted rental submarkets. The desirable unit mix includes ten spacious 2-bedroom, 1.5-bath units and two newly constructed studio ADUs, appealing to a broad tenant base and maximizing rental income potential. Situated on the highly sought-after Westside, the property benefits from strong local demand, proximity to major employment centers, beaches, shopping, dining, and public transportation. The building has undergone significant recent capital improvements, offering new ownership a low-maintenance asset with reduced near-term expenses. Upgrades include a comprehensive main electrical system enhancement, plumbing improvements, exterior renovations, and the addition of two conforming ADUs. SB-721 balcony inspections have been completed, adding further peace of mind. Inside, various units have been thoughtfully renovated with modern finishes, featuring wood-inspired flooring, stainless steel appliances, gas ranges, garbage disposals, and refrigerators. Residents enjoy amenities such as garage parking, on-site laundry, patios or balconies, and attractively landscaped grounds. With a strong location, solid unit mix, and major building systems already improved, this offering represents a turnkey opportunity with both stability and upside in one of the most desirable areas of Los Angeles.

FOR SALE DETAILS

PRICE

$5,750,000 USD

PRICE/SF

$584 USD /SF

# OF UNITS

12

PRICE/UNIT

$479,167

CAP RATE

4.88%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

12 UNITS IN PRIME SANTA MONICA

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,638 SF

ZONING

SMR2*

APN/PARCEL ID

4267-004-023

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 Policy.