1950s Walkup Apartment
1129 Lincoln BLVD Santa Monica, CA 90403
1129 Lincoln BLVD, Santa Monica, CA, 90403
$3,700,000
For Sale
$3,700,000
Two-story walkup features 10 rent-controlled units, gated courtyard access, on-site laundry, and parking garages plus surface spaces.
Property Size7,377 SF
Price / SF$501.56
Days on Market138
Property Features for 1129 Lincoln BLVD
General Information
- Standard status
- Active
- Size
- 7,377 SF
- Property subtype
- Apartment
Building Details
- Year Built
- 1956
Listing agency
Re/Max Commercial & Investment
(310) 802-2500
Listed by
Stephen Lampe · License #01164364
Source
Adambrawerestates
Added: Mar 6 Updated: Jul 21 at 7:02PM Checked: Jul 21 at 7:02PM
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 Re/Max Commercial & Investment
Investment Insights
Based on property information with market context.
Lincoln Park Apartments is a classic 1950’s, two-story walkup apartment building with 10 units. The mix includes three two-bedroom units, five one-bedroom units, and two studio apartments. A gated central courtyard provides access to the common area and entry for all units. On-site laundry is available, and the property includes seven parking garages plus a front parking area for three additional vehicles.
The building is subject to City of Santa Monica Rent Control, with rents described as below market and with rental income potential as units turn over. It is located in Santa Monica just north of Wilshire Boulevard, across from Reed Park, which occupies a full city block and includes picnic tables, benches, basketball courts, and public and private tennis courts. The complex is also described as a short walk or bike ride to 3rd Street Promenade, the park along Ocean Avenue, Santa Monica State Beach, and the Santa Monica Pier.
The building is subject to City of Santa Monica Rent Control, with rents described as below market and with rental income potential as units turn over. It is located in Santa Monica just north of Wilshire Boulevard, across from Reed Park, which occupies a full city block and includes picnic tables, benches, basketball courts, and public and private tennis courts. The complex is also described as a short walk or bike ride to 3rd Street Promenade, the park along Ocean Avenue, Santa Monica State Beach, and the Santa Monica Pier.
Key Highlights
- Classic 1950s two‑story walkup apartment building built in 1956 with 10 total units
- Unit mix: 3 two‑bedroom, 5 one‑bedroom, and 2 studio apartments
- Gated central courtyard provides access to the common area and entry for all units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $234.6k | $31.80 |
| − Vacancy | −$18.8k | −$2.54 |
| EGI | $215.8k | $29.26 |
| − OpEx | −$97.1k | −$13.17 |
| NOI | $118.7k | $16.09 |
7,377 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.48M – $1.98M
NOI $118,702 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.95M
$3.46M – $4.61M
NOI $276,473 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Illumine Education: Wendy ...
Training Center
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two-story walkup features 10 rent-controlled units, gated courtyard access, on-site laundry, and parking garages plus surface spaces.
Where is this apartment building located?
The property is located at 1129 Lincoln BLVD Santa Monica, CA.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: Classic 1950s two‑story walkup apartment building built in 1956 with 10 total units; Unit mix: 3 two‑bedroom, 5 one‑bedroom, and 2 studio apartments; Gated central courtyard provides access to the common area and entry for all units
