7-Unit Townhouse-Style Apartment
New
For Sale
$2,500,000
1434 Berkeley St, Santa Monica, CA 90404
Multifamily property with varied floor plans, on-site parking, and unit-level laundry in Santa Monica’s Mid-City neighborhood.
Property Size8,390 SF
Lot Size0.18 Acres
Price / SF$297.97
Days on Market4
Property Features for 1434 Berkeley St
General Information
Standard status
Active
Size
8,390 SF
Total Parking Spaces
7
Lot size
0.18 Acres
Property subtype
MULTI_FAMILY
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
5 x 2BR/2BA, 1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
7
Amenities
granite countertops
copper plumbing
individual washer/dryers
garage gates
grass yard
Building Details
Building Size
8,390 SF
Year Built
1964
Listing Agency:
Marcus & Millichap
Listed By:
Neema Ahadian · License #01346750
(310) 909-5444
Source:
Rochellemaize
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 19 at 10:05AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This 7-unit apartment property, built in 1964, contains approximately 8,390 square feet on a 7,807-square-foot lot. The unit mix includes five two-bedroom, two-bath townhouse-style residences, one one-bedroom, one-bath unit, and one three-bedroom, two-bath unit. Most residences offer granite countertops, copper plumbing, and individual washers and dryers. On-site parking includes seven spaces, with five located at the rear and two tandem spaces at the front. Rear garage gates have been newly installed, and a small grass yard fronts the building along Berkeley St.
The property is in Santa Monica’s Mid-City neighborhood, south of Santa Monica Blvd. The area has a Walk Score of 92, with Wilshire Blvd retail and restaurants and Santa Monica College within walking distance. The Expo Line’s 26th St/Bergamot station provides transit connections to Downtown Santa Monica, Downtown Los Angeles, and other Westside destinations.
The property is in Santa Monica’s Mid-City neighborhood, south of Santa Monica Blvd. The area has a Walk Score of 92, with Wilshire Blvd retail and restaurants and Santa Monica College within walking distance. The Expo Line’s 26th St/Bergamot station provides transit connections to Downtown Santa Monica, Downtown Los Angeles, and other Westside destinations.
Key Highlights
- 7‑unit apartment property totaling approximately 8,390 square feet
- Unit mix includes five 2‑bedroom, 2‑bath townhomes, one 1‑bedroom, 1‑bath unit, and one 3‑bedroom, 2‑bath unit
- Seven on‑site parking spaces: five at the rear and two tandem spaces at the front
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
$135,002
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
5.40%
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%
$2,700,040
$2.7M
Cap Rate 7%
$1,928,600
$1.9M
Cap Rate 9%
$1,500,022
$1.5M
Market Conditions
NOI Build-Up for 8,390 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
$266.8K $31.80/SF
− Vacancy
−$21.3K −$2.54/SF
EGI
$245.5K $29.26/SF
− OpEx
−$110.5K −$13.17/SF
NOI
$135.0K $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%
$2,700,040
Cap Rate 7%
$1,928,600
Cap Rate 9%
$1,500,022
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $135,002 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,438 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,839
Businesses Nearby
Explore this area
Business Placement
Demographics for 90404, CA
21,995
Population
11,499
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
10,998
Density / Sq Mi
$85,081
Median Household Income
$66,349
Median Earnings
$2,095
Median Rent
$1,159,500
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied floor plans, on-site parking, and unit-level laundry in Santa Monica’s Mid-City neighborhood.
Where is this apartment building located?
The property is located at 1434 Berkeley St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 7‑unit apartment property totaling approximately 8,390 square feet; Unit mix includes five 2‑bedroom, 2‑bath townhomes, one 1‑bedroom, 1‑bath unit, and one 3‑bedroom, 2‑bath unit; Seven on‑site parking spaces: five at the rear and two tandem spaces at the front
