827 18th St - Apartments FOR SALE


Santa Monica, CA 90403- Wilshire Montana
$2,995,000 USD
310-801-3442
827 18th St, Santa Monica, CA for Sale
$2,995,000 USD
Apartments - FOR SALE
1/13
null | 4.01% Cap Rate

827 18th St
Santa Monica, CA 90403
Wilshire Montana


HIGHLIGHTS

  • A+ Location - Just South of Montana
  • 100% Occupied
  • Oversized Units - 2+2 Units appx 1,350SF & 3+3 Unit appx 1,650 SF
  • One Site Laundry
  • Pride of Ownership

OVERVIEW

We are proud to present this opportunity to acquire 827 18th Street, an exceptional multifamily property located just half a block south of coveted Montana Avenue. Built in 1959 and well maintained with pride of ownership, this 100% occupied mid-century asset was designed to maximize livability with oversized floor plans, many featuring private balconies or yard space, along with decorative fireplaces that enhance the charm and character of each residence. The property consists of six (6) large units, including five (5) two-bedroom/two-bath units and one (1) three-bedroom/three-bath unit located on the second floor. The units offer spacious living areas with dedicated dining space, large kitchens, and ample storage throughout. The building also includes a dedicated laundry room, five (5) on-site parking spaces, and tenant storage. Each unit is separately equipped with its own water heater. A well-kept front courtyard further enhances curb appeal, with direct access for Unit A. The building totals approximately 8,406 SF on an 8,001 SF lot, zoned SMR2. The two-bedroom units average approximately 1,350 SF, while the three-bedroom unit is estimated at 1,650 SF, making this an attractive unit-size profile for the area. Current rental income is effectively generating approximately $2.00/SF, with significant upside potential of approximately 62%, highlighting a compelling opportunity for income growth. Recent improvements include exterior painting, electrical updates, a newer roof, and plumbing upgrades, with two units recently updated. This is a rare chance to acquire a pride-of-ownership Santa Monica asset with strong in-place income and meaningful long-term upside

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/SF

$356 USD /SF

# OF UNITS

6

PRICE/UNIT

$499,167

CAP RATE

4.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

8,002 SF

ZONING

R2

APN/PARCEL ID

4277-008-065

ASK ABOUT THIS PROPERTY

Tim ByrneCOMPASS CommercialMore Info
310-801-3442

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Tim ByrneCOMPASS CommercialMore Info
310-801-3442

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