Santa Monica Multifamily Investment
1813 9th Street Santa Monica, CA 90404
For Sale
Contact for pricing
Well-located 6-unit multifamily property near the beach.
Property Size7,763 SF
Lot Size0.17 Acres
Price / SF$383.87
Days on Market140
Property Features for 1813 9th Street
General Information
- Standard status
- Active
- Size
- 7,763 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multifamily
Listing Agency:
Coldwell Banker Commercial George Realty Arcadia
Listed By:
Gary Lee · License #01121690
Source:
Crexi
Added: Mar 8
Changed: Jul 6
Last Checked: Jul 25 at 2:19PM
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 Coldwell Banker Commercial George Realty Arcadia
Investment Insights
Based on property information with market context.
This multifamily property, constructed in 1963, is located in Santa Monica, a few blocks from the beach. The building has 7,763 square feet of living space on a 7,485 square foot lot. The unit mix includes two 2-bedroom / 1.5-bath townhouse style units, three 3-bedroom / 2-bath units, and one 3-bedroom/1.5-bath townhouse -style unit. The units feature spacious floor plans and ample closet space. The property is separately metered for gas & electric and serviced by a central water heater. On-site amenities include a laundry facility, one 2-car garage with storage rooms, and five carport parking spaces with storage bins. Capital improvements include a newer roof, copper plumbing in most units, multiple updated electrical sub-panels, replacement of a complete full main sewer line, and a new water heater in the laundry room. Two units have been extensively upgraded to include individual tankless water heaters & in-unit laundry, upgraded flooring, new kitchens with new shaker cabinetry, quartz countertops, stainless-steel appliances including gas stove, refrigerator, microwave & dishwasher, new bathrooms, dual pane windows, and new lighting. The property presents an opportunity to increase rent.
Key Highlights
- Prime Santa Monica location, just blocks from the beach.
- Strong unit mix: Combination of 2‑bedroom and 3‑bedroom units, including townhouse‑style layouts.
- Significant recent capital improvements: Newer roof, copper plumbing, updated electrical panels, new sewer line, and new water heater.
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 | $246.9k | $31.80 |
| − Vacancy | −$19.7k | −$2.54 |
| EGI | $227.1k | $29.26 |
| − OpEx | −$102.2k | −$13.17 |
| NOI | $124.9k | $16.09 |
7,763 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,913 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.16M
$3.64M – $4.85M
NOI $290,940 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-located 6-unit multifamily property near the beach.
Where is this apartment building located?
The property is located at 1813 9th Street Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: Prime Santa Monica location, just blocks from the beach.; Strong unit mix: Combination of 2‑bedroom and 3‑bedroom units, including townhouse‑style layouts.; Significant recent capital improvements: Newer roof, copper plumbing, updated electrical panels, new sewer line, and new water heater.
