Apartment Building Near Palisades
For Sale
$7,395,000
222 Idaho, Santa Monica, CA 90403
Multifamily community with studio, one-bedroom, and two-bedroom residences in Santa Monica.
Property Size15,640 SF
Lot Size0.34 Acres
Price / SF$472.83
Days on Market61
Property Features for 222 Idaho
General Information
Standard status
Active
Size
15,640 SF
Lot size
0.34 Acres
Property subtype
Apartment
Site & Location
Neighborhood
Wilshire
Highway Access
Yes
Additional Details
Multifamily Units
20
Building Details
Building Size
15,640 SF
Year Built
1954
Listing Agency:
Warren Lee Berzack
Listed By:
Warren Berzack · License #01329015
(818) 269-2979
Source:
Frontgaterealestate
Added: Aug 24
Changed: Oct 18
Last Checked: Oct 21 at 5:15AM
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 Warren Lee Berzack
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Investment Insights
Based on property information with market context.
The property is a 20-unit apartment community at 222 Idaho in Santa Monica, California. Its residential mix includes studio, one-bedroom, and two-bedroom units within a 15,640-square-foot building on a 15,006-square-foot lot. Constructed in 1954, the property is offered in its existing as-is condition and may support renovation or repositioning plans.
The location places the community two blocks from Palisades Park and provides access to nearby freeways. The combination of unit variety, established construction, and a Santa Monica setting creates a straightforward multifamily asset for buyers evaluating an existing apartment property with improvement considerations.
The location places the community two blocks from Palisades Park and provides access to nearby freeways. The combination of unit variety, established construction, and a Santa Monica setting creates a straightforward multifamily asset for buyers evaluating an existing apartment property with improvement considerations.
Key Highlights
- 20‑unit apartment community at 222 Idaho, Santa Monica, CA 90403
- Studio, one‑bedroom, and two‑bedroom unit mix
- 15,640‑square‑foot apartment building on a 15,006‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$251,660
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,033,200
$5.0M
Cap Rate 7%
$3,595,143
$3.6M
Cap Rate 9%
$2,796,222
$2.8M
Market Conditions
NOI Build-Up for 15,640 SF
Gross rent
$497.4K $31.80/SF
− Vacancy
−$39.8K −$2.54/SF
EGI
$457.6K $29.26/SF
− OpEx
−$205.9K −$13.17/SF
NOI
$251.7K $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%
$5,033,200
Cap Rate 7%
$3,595,143
Cap Rate 9%
$2,796,222
Alternative Uses
Best Use
Apartment 5plus
$3.60M
$3.15M – $4.19M
NOI $251,660 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.37M
$7.33M – $9.77M
NOI $586,152 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
20
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,859
Businesses Nearby
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Business Placement
Demographics for 90403, CA
25,278
Population
14,853
Households
1.7
Avg Household Size
42
Median Age
72%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
18,056
Density / Sq Mi
$121,512
Median Household Income
$82,557
Median Earnings
$2,443
Median Rent
$1,553,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily community with studio, one-bedroom, and two-bedroom residences in Santa Monica.
Where is this apartment building located?
The property is located at 222 Idaho Santa Monica, CA.
What is the asking price?
The asking price for this property is $7,395,000.
What are key features of this property?
This property features: 20‑unit apartment community at 222 Idaho, Santa Monica, CA 90403; Studio, one‑bedroom, and two‑bedroom unit mix; 15,640‑square‑foot apartment building on a 15,006‑square‑foot lot
