Five-Unit Apartment
For Sale
$3,000,000
1833 19th St, Santa Monica, CA 90404
Two-building five-unit multifamily asset with private patio/yard space, in-unit laundry, and on-site parking.
Property Size5,374 SF
Days on Market94
Property Features for 1833 19th St
General Information
Standard status
Active
Size
5,374 SF
Property subtype
Multifamily
Additional Details
Cap Rate
7.49%
Multifamily Units
5
Amenities
Four of Five Units Delivered Vacant: Rare opportunity to reposition 80 percent of units and lease up at market rates
Strong Unit Mix: Five-unit property featuring a 4BD/3BA house, three 2BD/1BA units, and one 1BD/1BA unit for broad tenant appeal
Desirable Amenities: In-unit laundry, private patio/yard space, select interior upgrades, and on-site parking, enhancing resident satisfaction and long-term rental demand.
Prime Location One Block to Santa Monica College: Built-in tenant demand complemented by easy access to the beach, major employers, shopping, dining, and entertainment
Building Details
Building Size
5,374 SF
Units
5
Listed By:
David O'Keefe · License #License(s): CA: 01928739
(562) 257-1289
Source:
Marcusmillichap
Added: Jul 19
Changed: Oct 10
Last Checked: Oct 19 at 3:14AM
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 David O'Keefe
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Investment Insights
Based on property information with market context.
This five-unit apartment property is offered in a two-building configuration. The unit mix includes one four-bedroom/three-bathroom house, three two-bedroom/one-bathroom units, and one one-bedroom/one-bathroom unit. On-site amenities include private patio and yard space, in-unit laundry, and on-site parking.
The property is located just one block from Santa Monica College, supporting a steady base of rental demand tied to the campus community.
Four of the units are expected to be delivered vacant, providing an immediate opportunity to lease those spaces following acquisition.
The property is located just one block from Santa Monica College, supporting a steady base of rental demand tied to the campus community.
Four of the units are expected to be delivered vacant, providing an immediate opportunity to lease those spaces following acquisition.
Key Highlights
- Two‑building five‑unit multifamily property in Santa Monica
- Unit mix includes one 4BD/3BA house, three 2BD/1BA units, and one 1BD/1BA unit
- Four units will be delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,472
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,729,440
$1.7M
Cap Rate 7%
$1,235,314
$1.2M
Cap Rate 9%
$960,800
$960.8K
Market Conditions
NOI Build-Up for 5,374 SF
Gross rent
$170.9K $31.80/SF
− Vacancy
−$13.7K −$2.54/SF
EGI
$157.2K $29.26/SF
− OpEx
−$70.7K −$13.17/SF
NOI
$86.5K $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%
$1,729,440
Cap Rate 7%
$1,235,314
Cap Rate 9%
$960,800
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,472 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,405 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
4,157
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building five-unit multifamily asset with private patio/yard space, in-unit laundry, and on-site parking.
Where is this apartment building located?
The property is located at 1833 19th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Two‑building five‑unit multifamily property in Santa Monica; Unit mix includes one 4BD/3BA house, three 2BD/1BA units, and one 1BD/1BA unit; Four units will be delivered vacant
