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    238 Bicknell Ave Santa Monica, CA 90405

    View on Map
    Sponsored
    For Sale
    $2,100,000

    Duplex - Santa Monica, CA

    Type:Duplex
    Property size:
    2,369 SF
    Lot size:
    6,006.00 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 31 at 9:06 am

    Property Features for 238 Bicknell Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Bathrooms
    4
    APN
    4289017018
    Parking
    4
    Exterior features
    Community Features Included: Suburban, Rectangular Lot
    Size
    2,369 SF
    Lot size
    6,006.00 Acres

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    4
    Architectural style
    Other

    We can help!

    Listing Contact
    Raymond Rodriguez

    Equity Union

    Listing agent Raymond Rodriguez License #01402283

    Listing date Mar 30, 2026

    MLS# SR26068002 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 Multifamily Investment Opportunity

    Located in the Ocean Park neighborhood of Santa Monica, this multifamily property, known as The Bicknell Residences, features four units on a lot of approximately 6,006 square feet. Originally constructed in 1920, the property includes approximately 2,369 square feet of improvements. The unit mix consists of one two-bedroom, one-bathroom unit with an office, and three one-bedroom, one-bathroom units, some with a den and utility room. The architecture reflects classic Santa Monica character, with traditional design elements, original wood siding, and period detailing. Some units have updated interiors, while others retain original finishes. The lower units offer both front and rear access. The property includes four detached garages and a shared on-site laundry area, with a rear patio area adjacent to the garage structure. The property is master metered for water and separately metered for gas and electricity, and each unit has an individual water heater. The location provides access to dining, retail, and service-oriented uses. It is near the Santa Monica Pier, Third Street Promenade, and surrounding coastal destinations, as well as nearby parks and recreational areas. Convenient access is available to Lincoln Boulevard, Pico Boulevard, Santa Monica Boulevard, and the I-10 Freeway, connecting to Westside employment centers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Oppidan Shift Investment ... Consultant

    Suggested Use

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

    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
    -118.486816
    Latitude
    34.007039

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    FAQs

    What type of property is this?
    Quadplex - Multifamily property in Ocean Park neighborhood with four units.
    Where is this quadplex located?
    The property is located at 238 Bicknell Ave Santa Monica, CA.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: - Prime Ocean Park location in Santa Monica, known for walkability and proximity to amenities.; - Convenient access to Main Street, Santa Monica Pier, Third Street Promenade, and major transportation routes.; - Four units on a ±6,006 square foot lot, offering potential income generation.
    (818) 581-5829
    Request Owner's contact information
    238 Bicknell Ave 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
    238 Bicknell Ave Santa Monica, CA 90405
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    We can help!
    Listing Contact
    Raymond Rodriguez
    Real Estate License ID: 01402283
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