638 Grant St Santa Monica, CA 90405

Located in the desirable Ocean Park neighborhood of Santa Monica, this well-maintained 1957 garden-style apartment building features eight units within approximately 3,740 square feet on a 5,897-square-foot lot. The property offers a mix of four one-bedroom, one-bath units (approximately 570 square feet each) and four studio units (around 375 square feet). The location is known for its walkability and proximity to the beach. The property presents a value-add opportunity through rent optimization. Current rents are below market rates by roughly 15-20 percent, allowing for potential growth via unit turnovers and updates. The site's zoning accommodates multi-family operations. The physical condition is neutral with no significant deferred maintenance evident. The property features a blend of month-to-month and fixed-term leases, enabling phased rent increases. The units have separately metered electric and gas, and master water. There is limited on-site parking, supplemented by street spaces. The property is positioned outside major hazard zones and benefits from coastal stability.