Apartment Building with Private
For Sale
$2,975,000
1301 11th St, Santa Monica, CA 90401
Occupied multifamily property with on-site parking, private outdoor space, and two vacant one-car garages.
Property Size9,485 SF
Price / SF$313.65
Days on Market49
Property Features for 1301 11th St
General Information
Standard status
Active
Size
9,485 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Financials
Cap Rate
5.1%
Gross Rent Multiplier
12.9
Site & Location
Neighborhood
Wilshire
Additional Details
Unit Mix
3 x 2BR/1BA, 8 x 1BR/1BA, 1 x studio
Amenities
private patio or balcony
Building Details
Building Size
9,485 SF
Year Built
1957
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices California Propert
Listed By:
David Putnam · License #01036004
(310) 890-7438
Source:
Rochellemaize
Added: Sep 17
Changed: Nov 2
Last Checked: Nov 3 at 2:12PM
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 Berkshire Hathaway HomeServices California Propert
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Investment Insights
Based on property information with market context.
Built in 1957, this 9,485 square foot apartment building contains occupied residential units, each with a private patio or balcony. The property includes 8 onsite parking spaces, and the landlord will deliver 2 one-car garages vacant. The building has been well maintained, with interior access available with an acceptable offer.
The property is located on 11th Street in Santa Monica, directly across from The Broad Stage. Investment metrics include a 12.9 GRM and an approximately 5.1% cap rate. Current occupancy and on-site parking provide established operating characteristics for the asset.
The property is located on 11th Street in Santa Monica, directly across from The Broad Stage. Investment metrics include a 12.9 GRM and an approximately 5.1% cap rate. Current occupancy and on-site parking provide established operating characteristics for the asset.
Key Highlights
- 9,485 square foot apartment building constructed in 1957
- All units are occupied
- Every unit includes a private patio or balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,621
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,052,420
$3.1M
Cap Rate 7%
$2,180,300
$2.2M
Cap Rate 9%
$1,695,789
$1.7M
Market Conditions
NOI Build-Up for 9,485 SF
Gross rent
$301.6K $31.80/SF
− Vacancy
−$24.1K −$2.54/SF
EGI
$277.5K $29.26/SF
− OpEx
−$124.9K −$13.17/SF
NOI
$152.6K $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%
$3,052,420
Cap Rate 7%
$2,180,300
Cap Rate 9%
$1,695,789
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,621 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.08M
$4.44M – $5.92M
NOI $355,476 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
10,324
Businesses Nearby
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Business Placement
Demographics for 90401, CA
8,167
Population
5,782
Households
1.4
Avg Household Size
39
Median Age
76%
College-Educated
97%
High-School Grad
0.8 sq mi
ZIP Area
10,209
Density / Sq Mi
$106,704
Median Household Income
$98,906
Median Earnings
$2,549
Median Rent
$1,129,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Occupied multifamily property with on-site parking, private outdoor space, and two vacant one-car garages.
Where is this apartment building located?
The property is located at 1301 11th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,975,000.
What are key features of this property?
This property features: 9,485 square foot apartment building constructed in 1957; All units are occupied; Every unit includes a private patio or balcony
