14,515 SF Double Lot -2 unit delivered vacant | 1850-1856 9th St
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14,515 SF Double Lot -2 unit delivered vacant 1850-1856 9th St
7 Unit Apartment Building $3,125,000 ($446,429/Unit) 4.68% Cap Rate Santa Monica, CA 90404
Investment Highlights
- Double Lot
- Parklike Grounds
- Two Units to be delivered vacant
- Value Add Opportunity
Executive Summary
Back on the Market! Just 9 Blocks from the Beach!
An exceptional investment opportunity awaits with this value-added property in Santa Monica’s desirable Sunset Park neighborhood. Located on a double lot totaling 14,515 sq. ft., this 7-unit complex offers flexibility for both investors and owner-users. The two properties—1850 9th Street with 3 units and 1856 9th Street with 4 units—are available for acquisition separately, with two units delivered vacant for immediate use.
The location is ideal, on a charming, tree-lined street just one block from an array of shopping, dining, and entertainment options, and a mere 9 blocks from the beach. The grounds feature lush, park-like landscaping that is rare to find in this urban area, providing a peaceful retreat for residents.
Property Highlights:
1850 9th Street: Situated on a 7,232 sq. ft. lot, this building includes three 1-bedroom, 1-bathroom units. Zoned R2.
Value Add Opportunity - Owner Occupied Exemption (triplex)
1856 9th Street: Located on a 7,283 sq. ft. lot, this 4-plex includes two 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units, with the rear 2-bedroom unit featuring an attached garage.
Immediate Occupancy: One 1-bedroom unit from each property will be delivered vacant, allowing for owner-occupancy or lease-up flexibility.
Expansion Potential: Large, open area at the rear of the property provides ample room for additional parking, ADU construction, or other enhancements.
This property offers a rare combination of beachside proximity, low-density, and expansion potential in one of Santa Monica’s most desirable neighborhoods. Don’t miss out on this unique investment opportunity!
An exceptional investment opportunity awaits with this value-added property in Santa Monica’s desirable Sunset Park neighborhood. Located on a double lot totaling 14,515 sq. ft., this 7-unit complex offers flexibility for both investors and owner-users. The two properties—1850 9th Street with 3 units and 1856 9th Street with 4 units—are available for acquisition separately, with two units delivered vacant for immediate use.
The location is ideal, on a charming, tree-lined street just one block from an array of shopping, dining, and entertainment options, and a mere 9 blocks from the beach. The grounds feature lush, park-like landscaping that is rare to find in this urban area, providing a peaceful retreat for residents.
Property Highlights:
1850 9th Street: Situated on a 7,232 sq. ft. lot, this building includes three 1-bedroom, 1-bathroom units. Zoned R2.
Value Add Opportunity - Owner Occupied Exemption (triplex)
1856 9th Street: Located on a 7,283 sq. ft. lot, this 4-plex includes two 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units, with the rear 2-bedroom unit featuring an attached garage.
Immediate Occupancy: One 1-bedroom unit from each property will be delivered vacant, allowing for owner-occupancy or lease-up flexibility.
Expansion Potential: Large, open area at the rear of the property provides ample room for additional parking, ADU construction, or other enhancements.
This property offers a rare combination of beachside proximity, low-density, and expansion potential in one of Santa Monica’s most desirable neighborhoods. Don’t miss out on this unique investment opportunity!
Property Facts
Price | $3,125,000 | Apartment Style | Low Rise |
Price Per Unit | $446,429 | Building Class | C |
Sale Type | Investment | Lot Size | 0.17 AC |
Cap Rate | 4.68% | Building Size | 4,254 SF |
Gross Rent Multiplier | 16.27 | Average Occupancy | 86% |
No. Units | 7 | No. Stories | 1 |
Property Type | Multifamily | Year Built | 1928 |
Property Subtype | Apartment |
Price | $3,125,000 |
Price Per Unit | $446,429 |
Sale Type | Investment |
Cap Rate | 4.68% |
Gross Rent Multiplier | 16.27 |
No. Units | 7 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.17 AC |
Building Size | 4,254 SF |
Average Occupancy | 86% |
No. Stories | 1 |
Year Built | 1928 |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 3 | - | - |
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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Biker's Paradise (93)
PROPERTY TAXES
Parcel Number | 4283-020-030 | Improvements Assessment | $18,224 |
Land Assessment | $49,722 | Total Assessment | $67,946 |
PROPERTY TAXES
Parcel Number
4283-020-030
Land Assessment
$49,722
Improvements Assessment
$18,224
Total Assessment
$67,946
zoning
Zoning Code | SMR2* |
SMR2* |
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14,515 SF Double Lot -2 unit delivered vacant | 1850-1856 9th St
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