Multifamily Property with Pool
For Sale
$15,395,000
Pending
537 San Vicente Blvd, Santa Monica, CA 90402
1957 multifamily asset offering spacious 1- and 2-bedroom units, on-site laundry, pool, and parking for 33 cars.
Property Size40,412 SF
Days on Market243
Property Features for 537 San Vicente Blvd
General Information
Standard status
Pending
Size
40,412 SF
Total Parking Spaces
33
Property subtype
MULTI_FAMILY
Additional Details
Business Included
Yes
Multifamily Units
33
Building Details
Building Size
40,412 SF
Year Built
1957
Tenancy
Multi
Listing Agency:
Remax Commercial and Investment Realty
Listed By:
Jonathan Taksa · License #01366169
(213) 817-1000
Source:
Frontgaterealestate
Added: Jan 20
Changed: Sep 16
Last Checked: Sep 20 at 10:53AM
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 Remax Commercial and Investment Realty
Investment Insights
Based on property information with market context.
Built in 1957, this multifamily property features an all-large 1- and 2-bedroom unit mix designed around spacious floor plans and abundant natural light. The configuration includes (19) 1 bed, 1 bath units and (14) 2 bed, 2 bath units. Community amenities include an on-site laundry facility and a pool.
The property is located on San Vicente Blvd. in Santa Monica and is described as a quick walk to Montana Avenue and the beach. On-site parking is available for 33 cars, along with a wraparound driveway that supports additional parking.
For investors and operators seeking a turnkey residential income asset, the strong unit mix provides a straightforward product set of larger 1- and 2-bedroom layouts. The combination of on-site laundry, pool, and substantial parking supports day-to-day resident convenience, while the overall building design and unit configuration are intended to maximize comfort within the existing residential offering.
The property is located on San Vicente Blvd. in Santa Monica and is described as a quick walk to Montana Avenue and the beach. On-site parking is available for 33 cars, along with a wraparound driveway that supports additional parking.
For investors and operators seeking a turnkey residential income asset, the strong unit mix provides a straightforward product set of larger 1- and 2-bedroom layouts. The combination of on-site laundry, pool, and substantial parking supports day-to-day resident convenience, while the overall building design and unit configuration are intended to maximize comfort within the existing residential offering.
Key Highlights
- Multifamily property built in 1957 offering an all‑large 1- and 2‑bedroom unit mix
- Unit mix includes (19) 1 bed / 1 bath units and (14) 2 bed / 2 bath units
- On‑site parking for 33 cars plus a wraparound driveway for additional parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$650,261
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,005,220
$13.0M
Cap Rate 7%
$9,289,443
$9.3M
Cap Rate 9%
$7,225,122
$7.2M
Market Conditions
NOI Build-Up for 40,412 SF
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.
Gross rent
$1.29M $31.80/SF
− Vacancy
−$102.8K −$2.54/SF
EGI
$1.18M $29.26/SF
− OpEx
−$532.0K −$13.17/SF
NOI
$650.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,005,220
Cap Rate 7%
$9,289,443
Cap Rate 9%
$7,225,122
Alternative Uses
Best Use
Apartment 5plus
$9.29M
$8.13M – $10.84M
NOI $650,261 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.64M
$18.93M – $25.24M
NOI $1,514,550 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
33
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 90402, CA
12,295
Population
5,731
Households
2.1
Avg Household Size
50
Median Age
79%
College-Educated
97%
High-School Grad
2.0 sq mi
ZIP Area
6,148
Density / Sq Mi
$182,688
Median Household Income
$100,225
Median Earnings
$2,698
Median Rent
$2,000,001
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - 1957 multifamily asset offering spacious 1- and 2-bedroom units, on-site laundry, pool, and parking for 33 cars.
Where is this apartment building located?
The property is located at 537 San Vicente Blvd Santa Monica, CA.
What is the asking price?
The asking price for this property is $15,395,000.
What are key features of this property?
This property features: Multifamily property built in 1957 offering an all‑large 1- and 2‑bedroom unit mix; Unit mix includes (19) 1 bed / 1 bath units and (14) 2 bed / 2 bath units; On‑site parking for 33 cars plus a wraparound driveway for additional parking
