80% Two Bedroom Units Steps to Montana Avenue 854 9th St

10 Unit Apartment Building $4,125,000 ($412,500/Unit) Santa Monica, CA 90403

INVESTMENT HIGHLIGHTS

  • 10 units ideally located in a premier “North of Wilshire” Santa Monica location
  • Fantastic unit mix of all very large 2-bedroom and 1-bedroom floor plans
  • Ample on-site parking
  • Just steps away to the heart of the retail hub of Montana Avenue
  • Incredible rental upside
  • In close proximity to the beach, downtown Santa Monica, and high-end dining and shopping of Montana Avenue

EXECUTIVE SUMMARY

Jonathan Taksa of Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredible multifamily asset located at 854 9th Street in the heart of LA’s famed beach city of Santa Monica. Originally built in 1968, the building boasts an incredible unit mix consisting of all very large 2-bedroom and 1-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light.
Perfect for a long-term investor, the property has incredible rental upside, a secured entrance, ample on-site parking, as well as an on-site laundry facility. The unit mix includes (8) 2-bed, 2-bath units and (2) 1-bed, 1-bath units. Many of the interiors have been upgraded with hardwood flooring, stainless steel appliances, and granite countertops. Additionally, units feature charming built-ins and balconies. This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor’s portfolio.
A quick stroll to Montana Avenue, downtown Santa Monica, and the beach, thisproperty is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 854 9th Street gives buyers the unique opportunity to own a generational asset in one of LA’s most prized and coveted locations.

FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

PROPERTY FACTS

Price $4,125,000
Price Per Unit $412,500
Sale Type Investment
Gross Rent Multiplier 14.05
No. Units 10
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.17 AC
Building Size 10,056 SF
Average Occupancy 100%
No. Stories 2
Year Built 1968
Parking Ratio 1/1,000 SF

UNIT AMENITIES

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Storage Space

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 2 $2,195 -
2+2 8 $2,390 -
Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (96)

PROPERTY TAXES

ZONING

Zoning Code R3, Santa Monica
  • Listing ID: 34644991

  • Date on Market: 1/29/2025

  • Last Updated:

  • Address: 854 9th St, Santa Monica, CA 90403