522-532 Idaho Ave - Apartments FOR SALE


Santa Monica, CA 90403- Wilshire Montana
$2,700,000 USD
310-550-2615
522-532 Idaho Ave, Santa Monica, CA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/28
null | 4.97% Cap Rate

522-532 Idaho Ave
Santa Monica, CA 90403
Wilshire Montana


HIGHLIGHTS

  • Six bungalow-style apartment units within Santa Monica’s Wilshire-Montana district.
  • Three units, or 50%, delivered vacant at closing, enabling immediate renovation or re-tenanting at market rents.
  • Located only six blocks from Palisades Park and the Santa Monica beachfront with excellent walkability to premium dining and retail on Montana Avenue.
  • Significant demonstrated rental upside of approximately 19% through an established renovation program.
  • Recent exterior enhancements include new landscaping, fencing, paint, irrigation, and Spanish tile accents.
  • Two fully upgraded units featuring in-unit washer/dryers, new cabinetry, quartz countertops, and modern finishes.

OVERVIEW

CBRE presents 522–532 Idaho Avenue, a six-unit multifamily investment located in Santa Monica’s prestigious Wilshire-Montana neighborhood. Positioned one block south of Montana Avenue and six blocks from Palisades Park and the beachfront, this property features exceptional walkability and connectivity to Downtown Santa Monica, Pacific Coast Highway, and I-10, making it highly attractive to private investors seeking both stability and growth potential. The asset consists of six one-bedroom, one-bathroom bungalow-style units across three buildings situated on a corner lot. Half of the units will be delivered vacant, creating immediate opportunities for renovation and repositioning to capture increased rental income. Two units have already been upgraded, showcasing a renovation strategy that enhances appeal through modern kitchens, remodeled baths, new flooring, in-unit washer/dryers, and custom closets. Exterior improvements under current ownership include refreshed landscaping, fencing, new irrigation, and Spanish tile details. Offered at $2,700,000, this property provides a scheduled CAP rate of 4.97% under self-management and tremendous value-add potential as legacy rents turn over. Located in an amenity-rich neighborhood with proximity to retail, dining, and the beach, 522–532 Idaho Avenue offers a rare chance to control an easily managed asset in one of Los Angeles County’s most desirable rental markets.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$804 USD /SF

# OF UNITS

6

PRICE/UNIT

$450,000

CAP RATE

4.97%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,479 SF

ZONING

SMR2*

APN/PARCEL ID

4292-010-001

ASK ABOUT THIS PROPERTY

James KeadyCBREMore Info
310-550-2615

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James KeadyCBREMore Info
310-550-2615

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