Five-Unit Apartment
1018 21st St, Santa Monica, CA 90403
For Sale
$2,199,000
A varied bedroom mix includes remodeled units with air conditioning and garage parking assigned to every residence.
Property Size5,734 SF
Days on Market165
Property Features for 1018 21st St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Listing Agency:
J. D. Realty Company
Listed By:
James Dutton · License #00864227
Source:
Rochellemaize
Added: May 29
Changed: Nov 9
Last Checked: Nov 8 at 2:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J. D. Realty Company
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Investment Insights
Based on property information with market context.
This 1956 apartment property contains five residences: one with three bedrooms and two baths, two remodeled units with two bedrooms and two baths, and two units with two bedrooms and one and a half baths. Air conditioning is noted in the remodeled apartments, and each residence has a garage parking space.
The property is at 1018 21st St in Santa Monica, north of Wilshire and near Montana Avenue. Palisades Park and Santa Monica beach are also identified as nearby destinations.
The property is at 1018 21st St in Santa Monica, north of Wilshire and near Montana Avenue. Palisades Park and Santa Monica beach are also identified as nearby destinations.
Key Highlights
- Five apartment units with a mix of two- and three‑bedroom layouts
- One residence has 3 bedrooms and 2 baths
- Two remodeled 2‑bedroom, 2‑bath units include air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,265
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,845,300
$1.8M
Cap Rate 7%
$1,318,071
$1.3M
Cap Rate 9%
$1,025,167
$1.0M
Market Conditions
NOI Build-Up for 5,734 SF
Gross rent
$182.3K $31.80/SF
− Vacancy
−$14.6K −$2.54/SF
EGI
$167.8K $29.26/SF
− OpEx
−$75.5K −$13.17/SF
NOI
$92.3K $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 Rate 5%
$1,845,300
Cap Rate 7%
$1,318,071
Cap Rate 9%
$1,025,167
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,265 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.07M
$2.69M – $3.58M
NOI $214,897 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
6,435
Businesses Nearby
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Business Placement
Demographics for 90403, CA
25,278
Population
14,853
Households
1.7
Avg Household Size
42
Median Age
72%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
18,056
Density / Sq Mi
$121,512
Median Household Income
$82,557
Median Earnings
$2,443
Median Rent
$1,553,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Santa Monica, CA
Properties on Market for Apartment buildings in Santa Monica
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied bedroom mix includes remodeled units with air conditioning and garage parking assigned to every residence.
Where is this apartment building located?
The property is located at 1018 21st St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Five apartment units with a mix of two- and three‑bedroom layouts; One residence has 3 bedrooms and 2 baths; Two remodeled 2‑bedroom, 2‑bath units include air conditioning
