Bungalow-Style Multifamily Portfolio
2411 20TH ST Santa Monica, CA 90405
For Sale
Contact for pricing
Seven bungalow units with a balanced studio and bedroom mix, offered as part of a six-property portfolio.
Property Size4,912 SF
Lot Size0.31 Acres
Price / SF$437.70
Days on Market61
Property Features for 2411 20TH ST
General Information
- Standard status
- Active
- Size
- 4,912 SF
- Lot size
- 0.31 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1935
Listing Agency:
Taksa Investment Group
(213) 817-1000
Listed By:
Jonathan Taksa · License ## 01366169
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 25 at 11:03AM
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 Taksa Investment Group
Investment Insights
Based on property information with market context.
This offering features 2411-2417 20th Street, presented as part of a rare six-property portfolio. The property was originally constructed in 1935 and includes seven bungalow-style units arranged across landscaped grounds that create a more residential, low-density feel. The unit mix includes one studio unit with a full kitchen, four one-bedroom/one-bath units, and two two-bedroom/two-bath units. Interior details include hardwood flooring, crown moldings, generously sized kitchens, bathrooms, and closets, with layouts designed to bring in natural light. Operationally, the property benefits from upgraded electrical panels.
The asset is located in Santa Monica’s Sunset Park neighborhood and positioned near Main Street, a retail and dining destination. Residents also have convenient access to Santa Monica Beach and the associated outdoor lifestyle.
For buyers seeking a character-forward multifamily investment with a diversified unit mix, this property’s bungalow configuration supports a range of household types from studios to larger two-bedroom units. It also presents a practical option for portfolio buyers looking to acquire an established, family-held asset with maintenance and electrical upgrades already in place, while retaining room to align income with tenant demand over time.
The asset is located in Santa Monica’s Sunset Park neighborhood and positioned near Main Street, a retail and dining destination. Residents also have convenient access to Santa Monica Beach and the associated outdoor lifestyle.
For buyers seeking a character-forward multifamily investment with a diversified unit mix, this property’s bungalow configuration supports a range of household types from studios to larger two-bedroom units. It also presents a practical option for portfolio buyers looking to acquire an established, family-held asset with maintenance and electrical upgrades already in place, while retaining room to align income with tenant demand over time.
Key Highlights
- 7 bungalow‑style units built in 1935 on a 13,514 SF lot
- Unit mix includes 1 studio (full kitchen), 4 one‑bedroom/one‑bath, and 2 two‑bedroom/two‑bath units
- Upgraded electrical panels
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 | $156.2k | $31.80 |
| − Vacancy | −$12.5k | −$2.54 |
| EGI | $143.7k | $29.26 |
| − OpEx | −$64.7k | −$13.17 |
| NOI | $79.0k | $16.09 |
4,912 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$988.0K – $1.32M
NOI $79,038 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,091 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Seven bungalow units with a balanced studio and bedroom mix, offered as part of a six-property portfolio.
Where is this apartment building located?
The property is located at 2411 20TH ST Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 7 bungalow‑style units built in 1935 on a 13,514 SF lot; Unit mix includes 1 studio (full kitchen), 4 one‑bedroom/one‑bath, and 2 two‑bedroom/two‑bath units; Upgraded electrical panels
