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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!

Property Facts

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 - -
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Biker's Paradise (93)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
4283-020-030
Land Assessment
$49,722
Improvements Assessment
$18,224
Total Assessment
$67,946

zoning

Zoning Code SMR2*
SMR2*
  • Listing ID: 33831719

  • Date on Market: 11/11/2024

  • Last Updated:

  • Address: 1850-1856 9th St, Santa Monica, CA 90404

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