Multifamily Property with Detached
1937 17th Street Santa Monica, CA 90404
1937 17th Street, Santa Monica, CA, 90404
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For Sale
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Multifamily property featuring a detached single-family house.
Property Size4,840 SF
Price / SF$474.17
Days on Market610
Property Features for 1937 17th Street
General Information
- Standard status
- Active
- Size
- 4,840 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1948
Listing Agency
Stevenson Real Estate Services
Listed by
ante trinidad · License #CA 00704267
Source
Crexi
Added: Nov 14, 2024 Checked: Jul 17 at 11:57 am
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 Stevenson Real Estate Services
Investment Insights
Based on property information with market context.
This property comprises two separate structures: a front building with five units and a rear single-family house. The front building includes one three-bedroom unit with one and a half bathrooms, and four two-bedroom units with one bathroom each. The rear building is a two-bedroom, one-bathroom single-family house. The property also features a double-car garage and eight open parking spaces, accessible via a rear alley. The property is located in Santa Monica, CA, and the lot size is 4,840 square feet. There is potential for increased rental income upon tenant turnover.
Key Highlights
- Consists of two separate structures: a multi‑unit building and a single‑family house.
- Includes a total of six units: five in the front building and one in the rear.
- Features a 3 BD/1.5 BA unit and four 2 BD/1 BA units in the front building.
Local 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 | $153.9k | $31.80 |
| − Vacancy | −$12.3k | −$2.54 |
| EGI | $141.6k | $29.26 |
| − OpEx | −$63.7k | −$13.17 |
| NOI | $77.9k | $16.09 |
4,840 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$973.5K – $1.30M
NOI $77,879 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.27M – $3.02M
NOI $181,392 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multifamily property featuring a detached single-family house.
Where is this apartment building located?
The property is located at 1937 17th Street Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Consists of two separate structures: a multi‑unit building and a single‑family house.; Includes a total of six units: five in the front building and one in the rear.; Features a **3 BD/1.5 BA unit** and four 2 BD/1 BA units in the front building.
