Multifamily Property Near Santa Monica
For Sale
$2,295,000
1937 17th Street, Santa Monica, CA 90404
Multifamily property near Santa Monica College with development potential.
Property Size4,840 SF
Days on Market214
Property Features for 1937 17th Street
General Information
Standard status
Active
Size
4,840 SF
Property subtype
Six Units
Building Details
Building Size
4,840 SF
Year Built
1948
Listed By:
Ante Trinidad, MRED · License #CalDRE #00704267
(818) 371-1127
Source:
Stevensonrealestate
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 2 at 5:47AM
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 Ante Trinidad, MRED
Investment Insights
Based on property information with market context.
This property comprises two 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 separate two-bedroom house with one bathroom and a rear patio, which will be vacant as of March 1, 2026. A double-car garage and eight open parking spaces are accessible via a rear alley. The property is located half a block from Santa Monica College, situated on 17th Street between Pico Boulevard and Delaware Avenue.
Key Highlights
- Two separate structures: a multi‑unit building and a single‑family house.
- Five units in the front building: one 3 BD/1.5 BA and four 2 BD/1 BA.
- Separate 2 BD/1 BA single‑family house with rear patio.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,879
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,557,580
$1.6M
Cap Rate 7%
$1,112,557
$1.1M
Cap Rate 9%
$865,322
$865.3K
Market Conditions
NOI Build-Up for 4,840 SF
Gross rent
$153.9K $31.80/SF
− Vacancy
−$12.3K −$2.54/SF
EGI
$141.6K $29.26/SF
− OpEx
−$63.7K −$13.17/SF
NOI
$77.9K $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%
$1,557,580
Cap Rate 7%
$1,112,557
Cap Rate 9%
$865,322
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 authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,306
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property near Santa Monica College with development potential.
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: Two separate structures: a multi‑unit building and a single‑family house.; Five units in the front building: one **3 BD/1.5 BA** and four **2 BD/1 BA**.; Separate 2 BD/1 BA single‑family house with rear patio.
