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    2117 Stewart St Santa Monica, CA 90404

    Sponsored
    For Sale
    $1,965,000

    Traditional, Quadruplex - Santa Monica, CA

    Type:Quadruplex
    Property size:
    2,544 SF
    Lot size:
    5,589.00 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 2 at 12:06 am

    Property Features for 2117 Stewart St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Standard status
    Active
    Zoning
    SMR2*
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Living Room
    Bedrooms
    5
    Bathrooms
    4
    APN
    4274031014
    Parking
    5
    Parking features
    Assigned, Garage
    Interior features
    Carbon Monoxide Detector(s), Window Features: Blinds, Screens
    Exterior features
    Fence, Community Features Included: Sidewalks, Landscaped, 0-1 Unit/Acre, Sprinkler System, Lawn
    Fencing
    Fenced
    Appliances
    Dishwasher, Oven - Gas, Range, Range - Gas, Refrigerator, Washer
    Size
    2,544 SF
    Lot size
    5,589.00 Acres

    Utilities

    Heating system
    Floor Furnace, Wall Furnace
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1941
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Laminate, Vinyl
    Building materials
    Stucco
    Roof type
    Composition, Shingle
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Lisa Oliveras

    Estate Properties (310) 378-9494

    Listing agent Lisa Oliveras (310) 378-9494 License #01141551

    Listing date Feb 28, 2026

    MLS# PV26043221 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. 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 Quadruplex Investment Opportunity

    Located along a tree-lined street in Santa Monica, this property features four units, each separately metered for gas and electric. There are three 1-bedroom, 1-bath layouts on the main level and one larger 2-bedroom, 1-bath upstairs. The design allows for rental income from all four units or the option to live in one while renting the others. Three units have been updated with freshly painted walls, newly installed flooring, stainless steel appliances, and revamped fixtures, as well as remodeled baths. Private patios overlook landscaping and mature fruit trees. In-unit laundry hookups are available. The 5,600 square foot property includes two 2-car garages, an additional parking space, and off-street parking for an additional vehicle. Zoned SMR2 on a triple corner lot of 0.1283 acres, there is room for expansion or redevelopment. The two-car garages are currently occupied by the owner, with potential income from an ADU or renting the garages to supplement the income from the units. The property is located at 2117 Stewart Street, Santa Monica, CA 90404.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

    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
    -118.4613042
    Latitude
    34.0253036

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    FAQs

    What type of property is this?
    Quadplex - Four units, updated interiors, expansion potential in prime Santa Monica.
    Where is this quadplex located?
    The property is located at 2117 Stewart St Santa Monica, CA.
    What is the asking price?
    The asking price for this property is $1,965,000.
    What are key features of this property?
    This property features: - Prime Santa Monica location on a tree-lined street.; - Four units offering quadruple income potential; each separately metered for gas and electric.; - **Extensive updates in 3 units**: fresh paint, new flooring, stainless steel appliances, revamped fixtures, and remodeled baths.
    (310) 567-3553
    Request Owner's contact information
    2117 Stewart St Santa Monica, CA 90404
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    Santa Monica, CA 90404
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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
    2117 Stewart St Santa Monica, CA 90404
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    We can help!
    Listing Contact
    Lisa Oliveras
    Real Estate License ID: 01141551
    (310) 567-3553 (310) 378-9494
    Learn more
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