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    The Largest CRE Database in the US with Over 1 Million Listings

    2116 3Rd St Santa Monica, CA 90405

    Sponsored
    For Sale
    $5,100,000

    MULTI_FAMILY - Santa Monica, CA

    Property size:
    5,032 SF
    Lot size:
    0.21 Acres
    Days on Market:
    3
    Last Refresh:
    Jan 24 at 2:06 am

    Property Features for 2116 3Rd St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    SMOP2*
    Rooms
    Bedroom 9, Bathroom 8, Bedroom 6, Bathroom 6, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 9, Bedroom 3, Bathroom 3, Bedroom 8, Bathroom 2, Bathroom 7, Bedroom 2, Bathroom 5, Bedroom 7, Bedroom 5
    Bedrooms
    9
    Bathrooms
    8
    APN
    4289-017-021
    Parking
    3
    Parking features
    On Street
    Fireplace
    1
    Size
    5,032 SF
    Lot size
    0.21 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1901
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Mixed

    We can help!

    Listing Contact
    Fatemah Sartawi
    Fatemah Sartawi

    KELLER WILLIAMS BEVERLY HILLS REALTY (310) 432-6400

    Listing agent Fatemah Sartawi (310) 432-6400 License #02116551

    Listing date Jan 22, 2026

    MLS# 25617279

    Copyright © 2026 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Santa Monica Celebrity Oasis Compound

    This rare, hidden celebrity oasis compound features three individual homes on a double lot. Located three blocks from the beach, this curated estate includes: a restored 1901 Craftsman cottage at 2116 3rd Street, a reimagined 1928 Mediterranean bungalow at 2118 3rd Street, and a third, two-bedroom, one-bathroom guest home. The Craftsman cottage features three bedrooms and three bathrooms, blending classic character with modern luxury. It is filled with natural light from seven skylights beneath high wood beam ceilings and includes a wood-burning fireplace in the living room, as well as a double-sided gas fireplace shared by the master bedroom and en suite. The second en-suite bedroom has private basement access to the backyard and an attached studio. The third bedroom and bathroom are currently used for wine storage. The Mediterranean bungalow includes two bedrooms and 2.5 bathrooms, modernized with refined style. It features a light-filled living room with a gas fireplace and a two-bedroom, two-bathroom walkout basement granny flat with a farmhouse kitchen and marble-tiled fireplace. The cozy guest house is tucked behind the main house and is ready for personalization, suitable as a guest house, rental unit, or home office with garden access. Lush gardens, fruit trees, and private outdoor spaces surround the property. The lot size is 0.2068 acres. The property is located minutes from the Santa Monica Promenade, Abbot Kinney, and the beach. The property is zoned SMOP2*.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.486475
    Latitude
    34.006847

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    FAQs

    What type of property is this?
    Multifamily property - Rare three-home compound near the beach in Santa Monica.
    Where is this multifamily property located?
    The property is located at 2116 3Rd St Santa Monica, CA.
    What is the asking price?
    The asking price for this property is $5,100,000.
    What are key features of this property?
    This property features: - Rare double-lot compound featuring three individual homes, offering unique flexibility and potential.; - Prime location: Just 3 blocks from the beach and minutes from Santa Monica Promenade and Abbot Kinney.; - Restored 1901 Craftsman Cottage (2116 3rd Street) with 3 beds, 3 baths, skylights, wood-burning fireplace, and a master suite with a double-sided gas fireplace.
    (310) 432-6400
    Request Owner's contact information
    2116 3Rd St Santa Monica, CA 90405
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    Santa Monica, CA 90405
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2116 3Rd St Santa Monica, CA 90405
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    We can help!
    Listing Contact
    Fatemah Sartawi
    Fatemah Sartawi
    Real Estate License ID: 02116551
    (310) 432-6400
    Learn more
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