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

    537 San Vicente Blvd Santa Monica, CA 90402

    Sponsored
    For Sale
    $16,995,000

    MULTI_FAMILY - Santa Monica, CA

    Property size:
    40,412 SF
    Lot size:
    0.51 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 5 at 1:06 pm

    Property Features for 537 San Vicente Blvd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    SMR2*
    Rooms
    Bedroom 21, Bedroom 8, Bathroom 40, Bedroom 20, Bathroom 18, Bathroom 10, Bedroom 40, Bathroom 16, Bathroom 14, Bathroom 42, Bedroom 38, Bathroom 15, Bathroom 32, Bedroom 42, Bedroom 15, Bathroom 26, Bedroom 25, Bathroom 3, Bedroom 35, Bathroom 1, Bathroom 38, Bedroom 45, Bedroom 13, Bathroom 29, Bedroom 18, Bathroom 47, Bedroom 2, Bedroom 16, Bedroom 37, Bathroom 44, Bathroom 27, Bedroom 17, Bedroom 39, Bathroom 45, Bedroom 33, Bedroom 36, Bedroom 14, Bedroom 23, Bedroom 11, Bathroom 4, Bathroom 20, Bedroom 47, Bathroom 21, Bathroom 41, Bedroom 41, Bathroom 35, Bedroom 3, Bedroom 9, Bedroom 19, Bathroom 11, Bathroom 12, Bedroom 1, Bathroom 36, Bedroom 31, Bathroom 30, Bathroom 37, Bedroom 24, Bathroom 39, Bedroom 5, Bedroom 10, Bathroom 8, Bedroom 43, Bathroom 43, Bathroom 23, Bedroom 4, Bathroom 31, Bathroom 19, Bedroom 30, Bathroom 34, Bedroom 27, Bathroom 17, Bathroom 25, Bedroom 7, Bathroom 7, Bedroom 12, Bathroom 33, Bedroom 32, Bedroom 46, Bedroom 26, Bathroom 46, Bathroom 28, Bathroom 2, Bathroom 9, Bedroom 22, Bedroom 29, Bathroom 22, Bathroom 24, Bedroom 28, Bedroom 6, Bathroom 5, Bedroom 34, Bathroom 13, Bedroom 44, Bathroom 6
    Bedrooms
    47
    Bathrooms
    47
    APN
    4293-001-018
    Parking
    33
    Parking features
    Garage - Attached, Assigned, Gated
    Size
    40,412 SF
    Lot size
    0.51 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Wall/Window Unit(s)

    Building Details

    Year built
    1957
    Floors in Building
    3
    Number of units
    33

    We can help!

    Listing Contact
    Jonathan Taksa

    RE/MAX Commercial & Investment (310) 802-2500

    Listing agent Jonathan Taksa (213) 817-1000 License #01366169

    Listing date Feb 4, 2026

    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.

    Learn more

    Property Insight Report

    Overview

    Santa Monica Multifamily Trophy Asset

    Located in Santa Monica, this multifamily property at 537 San Vicente Blvd features a unit mix of nineteen 1-bed, 1-bath units and fourteen 2-bed, 2-bath units. Constructed in 1957, the building offers spacious units with floor plans designed to maximize natural light. The property, situated on a 0.5087-acre lot, includes on-site parking for 33 cars, with a wraparound driveway providing additional parking options. Residents have access to an on-site laundry facility and a pool. With a total property size of 40412 square feet, this property is located within walking distance of Montana Avenue and the beach. The zoning is SMR2*.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The YogAbility Institute Gym & Fitness Center YogAbility Institute Gym & Fitness Center

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness 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
    -118.50861
    Latitude
    34.030367

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    FAQs

    What type of property is this?
    Apartment building - Rare multifamily property near Montana Avenue and the beach.
    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 $16,995,000.
    What are key features of this property?
    This property features: - Prime Santa Monica location, a short walk to Montana Avenue and the beach.; - Significant rental upside potential.; - Ideal unit mix: (19) 1-bed, 1-bath units and (14) 2-bed, 2-bath units.
    (213) 817-1000
    Request Owner's contact information
    537 San Vicente Blvd Santa Monica, CA 90402
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    Santa Monica, CA 90402
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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
    537 San Vicente Blvd Santa Monica, CA 90402
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    We can help!
    Listing Contact
    Jonathan Taksa
    Real Estate License ID: 01366169
    (213) 817-1000
    Learn more
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