Six-Unit Residential Income
1937 17th St Santa Monica, CA 90404
New
For Sale
$2,250,000
Six-unit residential income asset with on-site parking and recent roof and electrical upgrades.
Property Size4,840 SF
Lot Size0.18 Acres
Price / SF$464.88
Days on Market7
Property Features for 1937 17th St
General Information
Standard status
Active
Size
4,840 SF
Lot size
0.18 Acres
Property subtype
MULTI_FAMILY
Building Details
Year Built
1948
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
(310) 600-9858
Listed By:
William James · License #01734419
Source:
Jademillsestates
Added: Jul 23
Changed: Jul 26
Last Checked: Jul 29 at 11:01AM
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.
Investment Insights
Based on property information with market context.
This six-unit residential income property was built in 1948 and totals 4,840 rentable square feet on a 7,746 SF lot. The unit mix consists of one 3-bedroom, 1.5-bath home and five 2-bedroom, 1-bath units, including a detached 2-bedroom, 1-bath residence located toward the rear of the property. Delivery is planned with three vacant units at close of escrow, with two currently vacant and a third becoming vacant at the end of August. Recent improvements include a new roof and updated electrical systems.
Tenant parking is provided on-site with eight uncovered individual spaces plus a two-car garage at the front of the property. The property is zoned SMR2 and is positioned in central Santa Monica, within one block of Santa Monica College. The beach and pier are minutes to the west, and the location offers access to nearby retail areas and public transit.
The offering also includes potential for additional space through an ADU concept involving a garage conversion, subject to buyer verification.
Tenant parking is provided on-site with eight uncovered individual spaces plus a two-car garage at the front of the property. The property is zoned SMR2 and is positioned in central Santa Monica, within one block of Santa Monica College. The beach and pier are minutes to the west, and the location offers access to nearby retail areas and public transit.
The offering also includes potential for additional space through an ADU concept involving a garage conversion, subject to buyer verification.
Key Highlights
- Six‑unit residential income property built in 1948 on a 7,746 SF lot
- Unit mix: one 3BR/1.5BA and five 2BR/1BA, with a detached 2BR/1BA home toward the rear
- Total of 4,840 rentable SF; currently delivered with three vacant units at close of escrow
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 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.27M – $3.02M
NOI $181,392 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit residential income asset with on-site parking and recent roof and electrical upgrades.
Where is this apartment building located?
The property is located at 1937 17th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Six‑unit residential income property built in 1948 on a 7,746 SF lot; Unit mix: one 3BR/1.5BA and five 2BR/1BA, with a detached 2BR/1BA home toward the rear; Total of 4,840 rentable SF; currently delivered with three vacant units at close of escrow
