$5,999,000 Price Analysis   ♡   Santa Monica, CA 90404 28 bed 22 bath 11,456 SqFt ($523/SqFt) 0.33 acre lot. Built 1955 Listed 2024-03-21, Taxes $51,776 | Ⓧ USDA Ineligible due to price & location near Santa Monica |
We are pleased to present a fifteen (15)
Unit apartment bulding located at 1860 9th Street in Santa Monica, California. The subject property is located in a prime Santa Monica location north of Lincoln Boulevard and west of Pico Boulevard. Built in 1955, this property contains an excellent unit mix of one (1) studio / one-bathroom unit and fourteen (14) two-bedroom / one and a half-bathroom units. The property consists of a double-lot with one being zoned commercial. All units face the well-maintained inner courtyard. The units boast a ton of character with lovely tile and wood flooring, tile counters, French doors, antique light fixtures and other built-in decorative elements.
There is shared laundry on-site with newer Maytag high efficiency appliances. This rare, mid-size asset goes street-to-street with eight (8) garage parking spaces off of Lincoln Court, three (3) covered carports with storage spaces above and seven (7) uncovered interior parking spaces. Most of the storage can be rented for additional income and there is a private storage room attached to the southern garage. There is tremendous potential to convert the garage spaces into multiple ADU units. Tenants will love living one (1) mile to Santa Monica Pier, with easy access to major transportation and some of the strongest employment hubs available throughout Los Angeles County. Situated in a prime Santa Monica location, this offering presents an excellent opportunity for any investor to capitalize on the strong initial cash flow coupled with the opportunity to build out multiple ADU(s) with a favorable loan assumption.
Presented by Jason Tuvia at
Marcus & Millichap.
Property MLS #24-371213 from TheMLSCLAW
Full Bathrooms: 22
Bathroom 1 Features: Shower Over Tub
Oven
Range
Laundry Facilities: Laundry Area
Laundry Features: Laundry Area
Tile Counters
Kitchen Features: Remodeled, Tile Counters
Fireplace Features: Decorative
Heating Features: Wall
Garage Spaces: 8
Garage Description: Carport, Built-In Storage, Uncovered, Garage, Covered Parking, Gated
Parking Total: 18
Patio And Porch Features: Balcony, Patio Open
Patio Features: Balcony, Patio Open
Lot Size Acres: 0.3325528
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 14486
Other Equipment: Built-Ins, Range/Oven, Refrigerator, Washer, Dryer
Security Features: Gated
Vacancy Allowance: 12390
Calculated Total Monthly Association Fees: 0
Number of Units: 15
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 1700, 2 BedsTotal: 2, 2 BathsTotal: 1.5, 2 SquareFeet: 3050
Source Listing Status: Active
County: Los Angeles
Cap Rate: 4.67
Directions: The subject property is located in a prime Santa Monica location just north of Lincoln Boulevard and west of Pico Boulevard.
Source Property Type: Residential Income
Area: Santa Monica
Source Neighborhood: Santa Monica
Parcel Number: 4283-020-040
Postal Code Plus 4: 4514
Property Location: City, Beach Access
Zoning: SMR2-C4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,313,516 + $2,889,739 $4,203,255 | $51,776 |
| 2021 | $1,287,761 + $2,833,078 $4,120,839 | $50,498 |
| 2020 | $1,274,557 + $2,804,029 $4,078,586 | $50,156 |
| 2019 | $1,249,566 + $2,749,049 $3,998,615 | $49,670 |
| 2018 | $1,225,065 + $2,695,147 $3,920,212 | $46,625 |
| 2017 | $1,201,045 + $2,642,301 $3,843,346 | $46,393 |
| 2016 | $1,177,496 + $2,590,492 $3,767,988 | $44,832 |
| 2015 | $1,159,809 + $2,551,581 $3,711,390 | $44,264 |
| 2014 | $1,137,090 + $2,501,600 $3,638,690 | $43,715 |
| 2013 | $1,131,951 + $2,490,295 $3,622,246 | $43,471 |
| 2012 | $1,109,756 + $2,441,466 $3,551,222 | $42,493 |
| 2010 | $1,087,997 + $2,393,595 $3,481,592 | $41,463 |
| 2009 | $1,082,432 + $2,381,350 $3,463,782 | $40,551 |
| 2009 | $1,079,866 + $2,375,706 $3,455,572 | $40,551 |
| 2008 | $1,061,208 + $2,334,657 $3,395,865 | $39,644 |
| 2007 | $1,040,400 + $2,288,880 $3,329,280 | $39,162 |
$5,999,000
TheMLSCLAW
Listing removed 2014-05-09
$1,995
WestsideRentals
Listed for rent 2014-05-03
$1,995
WestsideRentals
Sold 2005-05-18
$3,200,000
ITECH
Listed 2004-06-23
$3,250,000
ITECH
Sold 2003-08-29
$2,500,000
ITECH
Listed 2003-05-14
$2,500,000
ITECH
Sold 1996-11-15
$1,150,000
ITECH
Listed 1995-11-01
$1,200,000
ITECH
Sold 1987-06-04
$655,000
Public Record
Year Built: 1955
Common Walls: Attached
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 69
Property Condition: Repairs Major, Repair Cosmetic, Updated/Remodeled
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.