26Th St Santa Monica, CA 90403
Prime 12-unit multifamily property on Montana Avenue, Santa Monica.
Property size:
10,618 SFLot size:
0.34 AcresProperty Features for 26Th St
General Information
- Standard status
- Active
- Size
- 10,618 SF
- Lot size
- 0.34 Acres
Building Details
- Year built
- 1948
Source:
Corcoran
Listing Agent: Dominic Guan
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Montana Avenue Multifamily Investment Opportunity
This is a 12-unit multifamily investment opportunity situated on a prime corner double lot on Montana Avenue. The charming bungalow-style building is on the market for the first time in 25 years. Units feature hardwood floors, dual entrances, dining rooms, and natural lighting. Select units offer renovated kitchens and baths, semi-private patios, in-unit washer and dryers, recessed lighting, and upgraded appliances. Community amenities include a private lawn and on-site laundry for non-renovated units. There is ample opportunity to enhance the space with fire pits, BBQ areas, and a dog run. Nine garages are located on the right side of the property, presenting the opportunity to build two to three Accessory Dwelling Units (ADUs) over the existing garages, offering upside potential for additional rental income. The property is located on 26th Street, Santa Monica, CA 90403 and has a property size of 10,618 square feet.
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Santa Monica
- County
- Los Angeles
- State
- California
- Longitude
- -118.493005
- Latitude
- 34.049235
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FAQs
What type of property is this?
Apartment building - Prime 12-unit multifamily property on Montana Avenue, Santa Monica.
Where is this apartment building located?
The property is located at 26Th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: - Prime corner double lot location on highly sought-after Montana Avenue.; - Significant upside potential to increase rental income by building (2-3) Accessory Dwelling Units (ADUs) over existing garages, resulting in a 7.98% pro forma cap rate.; - Competitively priced at a 4.61% in-place cap rate with a 7.41% pro forma cap rate.