1937 17th Street, Santa Monica, CA 90404
- $2,250,000
- 13
- BD
- 7
- BA
- 4,840
- SqFt
- List Price
- $2,250,000
- Status
- ACTIVE
- MLS#
- 26862705
- Year Built
- 1948
- Bedrooms
- 13
- Bathrooms
- 7
- Living Sq. Ft
- 4,840
- Lot Size
- 7,748
- Acres
- 0.18
- Lot Location
- Rectangular Lot
- Days on Market
- 4
- Property Type
- Multifamily
- Style
- Mid-Century Modern
- Stories
- Multi Level
Property Description
The subject property is a six-unit residential income asset located at 1937 17th Street in central Santa Monica. Built in 1948 and zoned SMR2, the asset consists of (1) 3-Bedroom / 1.5-Bath unit and (5) 2-Bedroom / 1-Bath units, including a detached 2 Bedroom / 1-Bath home located towards the rear of the property, totaling 4,840 rentable square feet on a 7,746 SF lot. The property will be delivered with three vacant units at the close of escrow. Currently two units are vacant with a third unit becoming vacant at the end of August. Recent upgrades include a new roof and updated electrical systems. Tenant parking is on-site with 8 uncovered individual spaces and a 2 car garage located at the front of the property. The property delivers strong in-place cash flow at a 5.00% cap rate, with meaningful embedded upside as rents are brought to market. Potential ADU can be built as a garage conversion, buyer to verify. Positioned in Prime Santa Monica, the property sits within one block of Santa Monica College, and a short commute to Whole Foods, the Pico corridor retail, and the Bergamot Expo Line station, giving tenants a direct rail link to Downtown Santa Monica, Century City, and Downtown Los Angeles. The Santa Monica beach and pier are minutes to the west. Santa Monica remains a supply-constrained, high-demand rental market with deep renter demand from the Silicon Beach tech corridor and the long-term durability that defines Westside multifamily.
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Additional Information
- Appliances
- Dishwasher, Disposal, Gas Oven, Range, Refrigerator, Range Hood
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- City Lights
- Roof
- Composition, Shingle
- Garage Spaces Total
- 2
- Sewer
- Other
- Attached Structure
- Attached
- Number Of Units Total
- 6
Listing courtesy of Listing Agent: William James (will@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.