8-Unit Apartment
For Sale
$2,550,000
Pending
1127 5th St, Santa Monica, CA 90403
Single-building community offers a varied mix of studio, one-bedroom, and two-bedroom residences.
Property Size6,366 SF
Lot Size0.17 Acres
Days on Market110
Property Features for 1127 5th St
General Information
Standard status
Pending
Size
6,366 SF
Lot size
0.17 Acres
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x studio, 1 x 1BR/1BA, 6 x 2BR/1BA
Multifamily Units
8
Building Details
Building Size
6,366 SF
Year Built
1953
Buildings
1
Listing Agency:
CBRE
(707) 815-7472
Listed By:
John Boyett · License #02056759
Source:
Rochellemaize
Added: May 15
Changed: Aug 31
Last Checked: Aug 30 at 9:31PM
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 CBRE
Investment Insights
Based on property information with market context.
Built in 1953, this single-building apartment property contains eight residences with a balanced mix of unit layouts. The configuration includes one studio, one one-bedroom, one-bath apartment and six two-bedroom, one-bath apartments. The property encompasses 6,366 square feet of gross building area on a 7,492-square-foot lot, with an average of 796 square feet per residence.
Located at 1127 5th St in Santa Monica, the asset is positioned within a coastal Southern California residential market. Its unit diversity provides a clear overview of the existing apartment composition, while the compact single-building format keeps the property configuration straightforward.
Located at 1127 5th St in Santa Monica, the asset is positioned within a coastal Southern California residential market. Its unit diversity provides a clear overview of the existing apartment composition, while the compact single-building format keeps the property configuration straightforward.
Key Highlights
- Eight‑unit apartment property built in 1953
- 6,366 square feet of gross building area
- Situated on a 7,492‑square‑foot lot
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
$102,434
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
4.02%
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%
$2,048,680
$2.0M
Cap Rate 7%
$1,463,343
$1.5M
Cap Rate 9%
$1,138,156
$1.1M
Market Conditions
NOI Build-Up for 6,366 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
$202.4K $31.80/SF
− Vacancy
−$16.2K −$2.54/SF
EGI
$186.2K $29.26/SF
− OpEx
−$83.8K −$13.17/SF
NOI
$102.4K $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%
$2,048,680
Cap Rate 7%
$1,463,343
Cap Rate 9%
$1,138,156
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.71M
NOI $102,434 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.41M
$2.98M – $3.98M
NOI $238,583 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
7,510
Businesses Nearby
Explore this area
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
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 - Single-building community offers a varied mix of studio, one-bedroom, and two-bedroom residences.
Where is this apartment building located?
The property is located at 1127 5th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Eight‑unit apartment property built in 1953; 6,366 square feet of gross building area; Situated on a 7,492‑square‑foot lot
