6-Unit Apartment
1754 15th St, Santa Monica, CA 90404
For Sale
New
$2,199,000
The occupied property includes covered parking and two remodeled residences.
Property Size5,408 SF
Lot Size0.17 Acres
Price / SF$406.62
Days on Market4
Property Features for 1754 15th St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Occupancy
Site & Location
Neighborhood
Highway Access
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Average Monthly Rent
Tenant in Place
Amenities
covered parking
security camera system
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
Listed By:
William James · License #01734419
Source:
Milsteinestates
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 4:49PM
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 Lyon Stahl Investment Real Estate, Inc.
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Investment Insights
Based on property information with market context.
Built in 1962, this apartment property contains six two-bedroom, one-bath units across approximately 5,408 square feet. Two residences have been remodeled, and covered parking serves the building. The site spans 7,493 square feet and carries SMR2 zoning. The property is fully occupied.
Capital work completed since 2016 includes a seismic retrofit, copper repiping, electrical panel upgrades, roof treatment, new gutters, a rebuilt and recoated staircase, a new rear concrete driveway, and security camera improvements. A balcony inspection was also completed under SB 721.
The property is near the 17th Street/SMC Expo Line station and Santa Monica College. UCLA Santa Monica Medical Center and Providence Saint John's Health Center are each about a mile away; downtown Santa Monica and the 10 Freeway are also nearby.
Capital work completed since 2016 includes a seismic retrofit, copper repiping, electrical panel upgrades, roof treatment, new gutters, a rebuilt and recoated staircase, a new rear concrete driveway, and security camera improvements. A balcony inspection was also completed under SB 721.
The property is near the 17th Street/SMC Expo Line station and Santa Monica College. UCLA Santa Monica Medical Center and Providence Saint John's Health Center are each about a mile away; downtown Santa Monica and the 10 Freeway are also nearby.
Key Highlights
- Six units, each with two bedrooms and one bathroom
- Approximately 5,408 square feet on a 7,493‑square‑foot lot; SMR2 zoning
- 100% occupied, with covered parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,019
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,740,380
$1.7M
Cap Rate 7%
$1,243,129
$1.2M
Cap Rate 9%
$966,878
$966.9K
Market Conditions
NOI Build-Up for 5,408 SF
Gross rent
$172.0K $31.80/SF
− Vacancy
−$13.8K −$2.54/SF
EGI
$158.2K $29.26/SF
− OpEx
−$71.2K −$13.17/SF
NOI
$87.0K $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 Rate 5%
$1,740,380
Cap Rate 7%
$1,243,129
Cap Rate 9%
$966,878
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,019 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.53M – $3.38M
NOI $202,680 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,885
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
$1,159,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Santa Monica, CA
Properties on Market for Apartment buildings in Santa Monica
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The occupied property includes covered parking and two remodeled residences.
Where is this apartment building located?
The property is located at 1754 15th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Six units, each with two bedrooms and one bathroom; Approximately 5,408 square feet on a 7,493‑square‑foot lot; SMR2 zoning; 100% occupied, with covered parking
