Apartment Building with
For Sale
$15,395,000
Pending
537 San Vicente Blvd, Santa Monica, CA 90402
Residential Income, Santa Monica, CA
Property Size40,412 SF
Lot Size0.51 Acres
Days on Market220
Property Features for 537 San Vicente Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SMR2*
Bedrooms
47
Bathrooms
47
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bathroom 25, Bathroom 35, Bedroom 8, Bedroom 7, Bathroom 37, Bathroom 21, Bedroom 44, Bedroom 14, Bathroom 16, Bedroom 17, Bedroom 41, Bathroom 20, Bathroom 28, Bedroom 26, Bathroom 1, Bathroom 19, Bedroom 33, Bathroom 36, Bedroom 12, Bathroom 18, Bathroom 45, Bedroom 5, Bathroom 26, Bathroom 27, Bathroom 43, Bathroom 5, Bathroom 3, Bathroom 6, Bedroom 13, Bedroom 46, Bedroom 28, Bedroom 3, Bedroom 20, Bathroom 15, Bathroom 17, Bedroom 39, Bathroom 34, Bedroom 18, Bedroom 23, Bedroom 22, Bathroom 12, Bedroom 47, Bathroom 9, Bathroom 39, Bathroom 13, Bedroom 11, Bedroom 45, Bedroom 16, Bathroom 11, Bathroom 29, Bedroom 25, Bedroom 19, Bathroom 33, Bedroom 27, Bedroom 43, Bathroom 38, Bathroom 7, Bedroom 40, Bathroom 44, Bathroom 4, Bedroom 35, Bedroom 21, Bedroom 24, Bedroom 15, Bedroom 34, Bathroom 30, Bathroom 14, Bedroom 37, Bathroom 47, Bathroom 42, Bedroom 4, Bathroom 8, Bathroom 32, Bedroom 36, Bedroom 30, Bathroom 24, Bathroom 40, Bedroom 10, Bathroom 31, Bedroom 31, Bedroom 32, Bathroom 10, Bedroom 38, Bedroom 42, Bedroom 9, Bathroom 41, Bedroom 6, Bathroom 46, Bathroom 22, Bedroom 2, Bedroom 29, Bathroom 23
Parking
33
Parking features
Assigned, Gated, Garage - Attached
Directions
Prestigious San VIcente Blvd., 4 blocks from the ocean.
Subdivision
Santa Monica
Standard status
Pending
APN
4293-001-018
Size
40,412 SF
Lot size
0.51 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s)
Amenities
on-site laundry facility
pool
Building Details
Year built
1957
Floors in Building
3
Number of units
33
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Jonathan Taksa · License #01366169
(310) 968-5303
Added: Jan 20
Changed: Aug 20
Last Checked: Aug 28 at 6:06PM
MLS# 26640487
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment property at 537 San Vicente Blvd. contains 40,412 square feet on a 0.5087-acre site. Built in 1957, the building offers 33 residences comprising 19 one-bedroom, one-bath units and 14 two-bedroom, two-bath units. On-site amenities include a swimming pool, laundry facility, assigned parking, gated access, an attached garage, and a wraparound driveway. Heating is electric, with wall/window unit cooling, and the property is zoned SMR2*.
The property is in Santa Monica, near Montana Avenue and the beach. Its location in the city’s 90402 postal area places the apartment community within a walkable setting connected to established residential and coastal surroundings.
The unit mix, parking configuration, and shared amenities provide a clearly defined multifamily operating profile, while the substantial building area supports the existing 33-unit layout.
The property is in Santa Monica, near Montana Avenue and the beach. Its location in the city’s 90402 postal area places the apartment community within a walkable setting connected to established residential and coastal surroundings.
The unit mix, parking configuration, and shared amenities provide a clearly defined multifamily operating profile, while the substantial building area supports the existing 33-unit layout.
Key Highlights
- 33‑unit apartment property on a 0.5087‑acre site
- 40,412 square feet; built in 1957
- Unit mix includes 19 1‑bed, 1‑bath units and 14 2‑bed, 2‑bath units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$650,261
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,005,220
$13.0M
Cap Rate 7%
$9,289,443
$9.3M
Cap Rate 9%
$7,225,122
$7.2M
Market Conditions
NOI Build-Up for 40,412 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.29M $31.80/SF
− Vacancy
−$102.8K −$2.54/SF
EGI
$1.18M $29.26/SF
− OpEx
−$532.0K −$13.17/SF
NOI
$650.3K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,005,220
Cap Rate 7%
$9,289,443
Cap Rate 9%
$7,225,122
Alternative Uses
Best Use
Apartment 5plus
$9.29M
$8.13M – $10.84M
NOI $650,261 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.64M
$18.93M – $25.24M
NOI $1,514,550 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
33
Residential units
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 90402, CA
12,295
Population
5,731
Households
2.1
Avg Household Size
50
Median Age
79%
College-Educated
97%
High-School Grad
2.0 sq mi
ZIP Area
6,148
Density / Sq Mi
$182,688
Median Household Income
$100,225
Median Earnings
$2,698
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - A 33-unit community with on-site laundry, assigned parking, and a swimming pool.
Where is this apartment building located?
The property is located at 537 San Vicente Blvd Santa Monica, CA.
What is the asking price?
The asking price for this property is $15,395,000.
What are key features of this property?
This property features: 33‑unit apartment property on a 0.5087‑acre site; 40,412 square feet; built in 1957; Unit mix includes 19 1‑bed, 1‑bath units and 14 2‑bed, 2‑bath units
