Santa Monica Multifamily Investment
2318 16th St, Santa Monica, CA 90405
New
MULTI_FAMILY - Santa Monica, CA
Property size:
17,671 SFLot size:
0.44 AcresPrice / SF:
$280/SF- Added:
- May 27, 2026
- Days on Market:
- 3
- Last Refresh:
- May 29 at 1:06 pm
Property Features for 2318 16th St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- SMR2*
- Bedrooms
- 33
- Bathrooms
- 30
- Rooms
- Bedroom 1, Bedroom 30, Bedroom 29, Bathroom 1, Bedroom 16, Bedroom 6, Bathroom 16, Bathroom 19, Bedroom 26, Bedroom 24, Bathroom 18, Bedroom 7, Bathroom 29, Bathroom 5, Bathroom 2, Bedroom 19, Bathroom 7, Bedroom 13, Bedroom 2, Bedroom 25, Bedroom 32, Bathroom 8, Bedroom 22, Bedroom 3, Bathroom 12, Bathroom 13, Bedroom 4, Bedroom 28, Bedroom 12, Bedroom 17, Bathroom 24, Bathroom 25, Bathroom 14, Bathroom 15, Bathroom 30, Bedroom 11, Bathroom 10, Bedroom 5, Bathroom 21, Bathroom 6, Bathroom 23, Bedroom 10, Bedroom 15, Bedroom 18, Bedroom 21, Bathroom 9, Bedroom 23, Bathroom 26, Bathroom 11, Bathroom 4, Bedroom 9, Bedroom 33, Bathroom 28, Bathroom 17, Bathroom 3, Bedroom 8, Bedroom 20, Bathroom 27, Bedroom 14, Bathroom 22, Bedroom 31, Bathroom 20, Bedroom 27
- Parking
- 28
- Parking features
- Assigned, Gated
- Standard status
- Active
- APN
- 4284-038-031
- Size
- 17,671 SF
- Lot size
- 0.44 Acres
Utilities
- Cooling system
- Wall/Window Unit(s)
Building Details
- Year built
- 1977
- Floors in Building
- 2
- Number of units
- 15
Listing agent Jonathan Taksa License #01366169 (310) 968-5303
Listing office Remax Commercial and Investment Realty 99 S Lake Ave., Torrance, CA (213) 817-1000
Listing date May 27, 2026
MLS# 26839379
Listing URL
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime Sunset Park, Santa Monica location, offering proximity to the beach and Main Street amenities.
- Rare unit mix featuring 15 exceptionally large units: 12 two‑bedroom/two‑bath and 3 three‑bedroom/two‑bath.
- Significant rental upside potential through repositioning to market rents.
- Well‑maintained property built in 1977 reflecting long‑term pride of ownership.
- Units feature great floor plans with natural light, generously sized kitchens and bathrooms, appealing to long‑term tenants.
- Strong existing fundamentals and highly desirable unit configurations.
Overview
Offered as part of a six-property portfolio, this property presents an opportunity to acquire a low-density asset with desirable unit sizes in Santa Monica's Sunset Park neighborhood. Built in 1977, the property consists of 15 units, featuring 12 two-bedroom/two-bath units and 3 three-bedroom/two-bath units. These larger floor plans are suited for families, roommates, and tenants seeking space for home offices and flexible living arrangements. The units offer floor plans with natural light, generously sized kitchens and bathrooms. The scale and layout of the units position the asset well for long-term tenancy and rent growth. A new owner has the opportunity to reposition the asset to market rents. The property is located in Santa Monica's Sunset Park neighborhood, known for its residential streets and proximity to the beach and lifestyle amenities. It is minutes from Main Street, featuring dining, retail, cafes, fitness studios, and nightlife, as well as Santa Monica Beach. The surrounding area provides access to Venice, Mar Vista, and Santa Monica, along with proximity to Santa Monica High School. The combination of coastal proximity, demographics, and walkable lifestyle amenities drives tenant demand and rental stability. The lot size is 0.4361 acres and the property size is 17671 square feet. The zoning is SMR2*.
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 | $561.9k | $31.80 |
| − Vacancy | −$45.0k | −$2.54 |
| EGI | $517.0k | $29.26 |
| − OpEx | −$232.6k | −$13.17 |
| NOI | $284.3k | $16.09 |
17,671 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.06M
$3.55M – $4.74M
NOI $284,341 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.46M
$8.28M – $11.04M
NOI $662,269 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Best Star Moving ...
Moving Company
Location Insight
- Map
- Local Demand
- City
- Santa Monica
- County
- Los Angeles
- State
- California
- Longitude
- -118.471565
- Latitude
- 34.013443
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Rare 15-unit multifamily property in Santa Monica's Sunset Park.
Where is this apartment building located?
The property is located at 2318 16th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Prime Sunset Park, Santa Monica location, offering proximity to the beach and Main Street amenities.; Rare unit mix featuring **15 exceptionally large units**: 12 two‑bedroom/two‑bath and 3 three‑bedroom/two‑bath.; **Significant rental upside potential** through repositioning to market rents.
