3024 Pico Boulevard Santa Monica, CA 90405
MULTI_FAMILY - Santa Monica, CA
- Added:
- Apr 21, 2026
- Days on Market:
- 85
- Last Refresh:
- Jul 14 at 5:06 am
Property Features for 3024 Pico Boulevard
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- SM NC/R2
- Standard status
- Active
- APN
- 4270006042
Utilities
- Cooling system
- Window Unit(s), Wall/Window Unit(s)
Building Details
- Year built
- 1957
Listing agent Farzam Jalili License #02030454 (818) 940-4880
Listing office Rosedale Real Estate 638 STEPHEN ROAD, Burbank, CA (818) 940-4880
Listing date Apr 21, 2026
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The site totals 150 feet of frontage and 17,550 square feet, with zoning listed as SM NC/R2 (Santa Monica Neighborhood Commercial NC and R2). Offered as a unified package, the assembly provides diversified income across residential and commercial uses while also supporting planning for future development on the combined lots.
All three properties are described as fully tenanted, and the package is being marketed together for an ownership structure that can accommodate mixed-use development or continued operation of the existing buildings.
Key Highlights
- Three contiguous Santa Monica parcels on Pico Blvd: 3018, 3024, and 3026 Pico Blvd
- Total 150 ft frontage and 17,550 SF combined, zoned Santa Monica Neighborhood Commercial (NC)
- 3024 Pico Blvd is a fully tenanted 6‑unit residential multifamily building
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 | $558.1k | $31.80 |
| − Vacancy | −$44.6k | −$2.54 |
| EGI | $513.4k | $29.26 |
| − OpEx | −$231.0k | −$13.17 |
| NOI | $282.4k | $16.09 |
