Property Detail

Description

Exceptional six-unit investment opportunity in a prime Santa Monica location, just moments from Santa Monica College. This well-positioned multifamily property features six spacious 1-bedroom, 1-bathroom units, offering strong rental appeal in one of the Westside's most desirable and supply-constrained rental markets.With two vacant units, investors benefit from immediate upside potential through lease-up at market rents or the flexibility for an owner-user strategy. The property currently generates $179,604 in gross annual income, reflecting a 13.64 GRM and a 5% cap rate making it a compelling addition to any multifamily portfolio.Value-add opportunity: The rear storage area and existing garages present excellent potential for ADU conversion (buyer to verify), creating a meaningful opportunity to increase unit count and substantially enhance long-term cash flow and asset value.Tenants enjoy close proximity to world-class beaches, premier shopping and dining, and convenient access to major employment hubs throughout the Westside and Greater Los Angeles area. This is a rare opportunity to acquire a stable coastal asset with built-in upside in one of Southern California's most sought-after communities.