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    Santa Monica Development Opportunity
    Updated: Apr 24
    Santa Monica Development Opportunity

    3024 Pico, Santa Monica, CA 90405

    $3,350,000
    17,550 sqft
    Rare three‑property development assembly in Santa Monica's Sunset Park neighborhood.
    17,550 sq ft of land with 150 feet of frontage on Pico Boulevard.
    Santa Monica Neighborhood Commercial (NC) zoning allows for flexible mixed‑use development.
    Immediate, diversified cash flow from existing retail, office, and residential tenants.
    High Walk Score (81) and Bike Score (95) offer convenient access to amenities.
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    This listing looks promising.

    Here's a quick look at some key insights for

    3024 Pico, Santa Monica, CA 90405

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    • Est. Cap Rate

      8.4%
      Above avg (5.9%)

    • Est. NOI

      $282K
      Annual

    • Mortgage

      $350K
      May 2023

    • Property Type

      Apartment House
      Built 1957
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    Approved 7-Unit Apartment Development
    Updated: Jun 1
    Approved 7-Unit Apartment Development

    914 18th St, Santa Monica, CA 90403

    $2,550,000
    5,100 sqft 0.18 AC lot
    Fully approved 7‑unit apartment complex with RTI delivered
    Existing site features a courtyard arrangement of 4 bungalow‑style residences: 1 one‑bedroom and 3 two‑bedrooms
    Approved plans include renovation of existing units into Spanish‑style bungalows
    Plans add 3 new residences: a duplex in the center courtyard and a studio ADU above the garage
    Stamped permits are in hand for the approved development
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    Santa Monica Multifamily Investment Opportunity
    Santa Monica Multifamily Investment Opportunity

    2411 20th St, Santa Monica, CA 90405

    $2,150,000
    4,912 sqft 0.31 AC lot

    Rare opportunity in a sought-after coastal rental market.

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    Multifamily Apartment Building with Gated Parking
    Multifamily Apartment Building with Gated Parking

    2410 Ocean Park Blvd, Santa Monica, CA 90405

    $2,050,000
    6,324 sqft 0.15 AC lot

    Seven-unit apartment property with gated on-site parking, on-site laundry, and a unit mix spanning one- to two-story layouts.

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    Bungalow-Style Multifamily Portfolio Asset
    Bungalow-Style Multifamily Portfolio Asset

    2411 20TH ST, Santa Monica, CA 90405

    $2,150,000
    4,912 sqft 0.31 AC lot

    Seven bungalow units with a balanced studio and bedroom mix, offered as part of a six-property portfolio.

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    Santa Monica Multifamily Asset
    Santa Monica Multifamily Asset

    537 San Vicente Blvd, Santa Monica, CA 90402

    $15,895,000
    40,412 sqft 0.51 AC lot

    Rare multifamily asset in prime Santa Monica location.

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    Santa Monica Multifamily Investment Opportunity
    Santa Monica Multifamily Investment Opportunity

    2318 16th St, Santa Monica, CA 90405

    $4,950,000
    17,671 sqft 0.44 AC lot

    Rare 15-unit multifamily property in Santa Monica's Sunset Park.

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    Renovated 23-Unit Apartment Building
    Renovated 23-Unit Apartment Building

    1115 14th St, Santa Monica, CA 90403

    $19,750,000
    34,281 sqft 0.35 AC lot

    Renovated 1972 building with modern interiors, updated elevator and parking, plus a renovated two-story penthouse.

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    Apartment Building with Gated Parking
    Apartment Building with Gated Parking

    2410 OCEAN PARK BLVD, Santa Monica, CA 90405

    $2,050,000
    6,324 sqft

    Built in 1975, the 7-unit building offers a mix of one- and two-bedroom layouts plus gated parking and on-site laundry.

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    Santa Monica Multifamily Investment Opportunity
    Santa Monica Multifamily Investment Opportunity

    1233 14th St, Santa Monica, CA 90404

    $3,200,000
    5,536 sqft 0.17 AC lot

    8-unit apartment building with upgrade potential in Santa Monica.

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    Multifamily Development Assembly
    Multifamily Development Assembly

    3024 Pico Boulevard, Santa Monica, CA 90405

    $3,350,000

    Three contiguous lots offer a fully tenanted 6-unit residence plus retail and office buildings, zoned SM NC/R2.

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    Santa Monica Multifamily Investment Opportunity
    Santa Monica Multifamily Investment Opportunity

    1813 9th Street, Santa Monica, CA 90404

    $2,980,000
    7,763 sqft 0.17 AC lot

    Well-located 6-unit multifamily property near the beach.

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    Mid-Century Multifamily with Garages
    Mid-Century Multifamily with Garages

    2648-2662 23rd Street, Santa Monica, CA 90405

    $3,200,000
    6,294 sqft

    Eight-unit mid-century building on a corner lot with individual meters, six 1-car garages, and a carport.

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    Ocean Park Multifamily Investment
    Ocean Park Multifamily Investment

    638 Grant St, Santa Monica, CA 90405

    $2,657,000
    3,740 sqft

    Santa Monica multifamily property with significant rent upside potential.

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    Ocean Avenue Apartments For Sale
    Ocean Avenue Apartments For Sale

    901 Ocean Avenue, Santa Monica, CA 90403

    $27,500,000
    30,954 sqft 0.34 AC lot

    Coastal bluff apartment building with ocean views in Santa Monica.

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    Five-Unit Apartment Property
    Five-Unit Apartment Property

    1833 19th St, Santa Monica, CA 90404

    $4,000,000

    Two-building five-unit multifamily asset with private patio/yard space, in-unit laundry, and on-site parking.

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    Renovated 6-Unit Residential Income
    Renovated 6-Unit Residential Income

    402 Pacific, Santa Monica, CA 90405

    $3,500,000

    Renovated six-unit multifamily property with in-unit laundry, air conditioning, and controlled entry.

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    Renovated Santa Monica Apartment Building
    Renovated Santa Monica Apartment Building

    2626 Cloverfield, Santa Monica, CA 90405

    $4,950,000

    Turnkey 12-unit apartment building in prime Santa Monica location.

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    Multifamily Property with Detached House
    Multifamily Property with Detached House

    1937 17th Street, Santa Monica, CA 90404

    $2,295,000
    4,840 sqft

    Multifamily property featuring a detached single-family house.

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    Approved 7-Unit Apartment Development
    Approved 7-Unit Apartment Development

    914 18th St, Santa Monica, CA 90403

    $2,550,000

    RTI, approved plans for seven residences with courtyard layout and an added studio ADU.

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    Apartment Building Near Santa Monica Pier
    Apartment Building Near Santa Monica Pier

    35 Arcadia Terrace, Santa Monica, CA 90401

    $4,500,000
    3,810 sqft

    Remodeled apartment building near the beach and Santa Monica Pier.

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    Multifamily Property with Pool Parking
    Multifamily Property with Pool Parking

    537 San Vicente Blvd, Santa Monica, CA 90402

    $15,895,000

    1957 multifamily asset offering spacious 1- and 2-bedroom units, on-site laundry, pool, and parking for 33 cars.

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    Santa Monica Multifamily Investment Opportunity
    Santa Monica Multifamily Investment Opportunity

    943 19th Street, Santa Monica, CA 90403

    $4,000,000

    Two-story, six-unit building in prime Santa Monica location.

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    Based on your search, we've compiled Potential Opportunities for your consideration. Besides 23 Active Listings in Santa Monica, CA, we suggest to view alternatives - similar 49 Off-Market properties to explore as potential leads.

    Off-Market Properties in Santa Monica, CA

    Consider similar Off-Market properties in Santa Monica, CA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    1507 14th St
    APARTMENT HOUSE (5+ UNITS)

    1507 14th St, Santa Monica, CA 90404-3302

    $680,000
    Estimated value
    3,230 sqft 0.17 AC lot
    View details

    Santa Monica, CA Apartment Buildings Market Trends and Statistics

    Explore 72 apartment buildings for sale in Santa Monica, CA, showcased through 23 active listings on our real estate platform. These investment opportunities span a total of 200,423 square feet of properties for sale, with an estimated market value of $101,227,000.

    Sale prices for two-family homes in Santa Monica, CA start at $2,050,000, averaging $6,326,687, and reaching up to $27,500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 94K
    Population Growth (5Y) +0.4%
    Median Household Income $116,661
    College Educated 46.0%

    High-Yield Neighborhoods for Investment

    Identify Santa Monica submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    90405 $3.3M
    90404 $3.5M
    90401 $4.5M
    90403 $8.3M
    90402 $13.1M

    Taxes & Financing

    Tax Rate (average for all types) 1.14%
    Property Tax per SF $5.19 per SF
    Tax Rate vs County Average 0.07 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Los Angeles County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Los Angeles County

    Retail

    Office

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Santa Monica fall within the 5,000 to 10,000 square foot range.

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