Six-Unit Apartment Building with
For Sale
$4,895,000
828 16TH Street, Santa Monica, CA 90403
Mix of townhouse and single-level residences supports both owner-user and investment configurations.
Property Size9,700 SF
Price / SF$504.64
Days on Market75
Property Features for 828 16TH Street
General Information
Standard status
Active
Size
9,700 SF
Total Parking Spaces
9
Property subtype
Multi-family
Site & Location
Neighborhood
Wilshire
Additional Details
Multifamily Units
6
Building Details
Year Built
1970
Buildings
1
Listing Agency:
Compass
Listed By:
Sally Forster Jones · License #00558939
(310) 579-2200
Source:
Sevengables
Added: Aug 14
Changed: Oct 26
Last Checked: Oct 26 at 4:50PM
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 Compass
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Investment Insights
Based on property information with market context.
This 1970 apartment property contains six residences, including a front-facing, three-level unit configured with three bedrooms, 3.5 bathrooms, a bonus room, private laundry, and a four-car garage. Its kitchen includes high-end appliances, while the formal dining area opens to a side patio. The primary suite offers treetop views, and the lower-level flex area provides additional interior utility.
Five other apartments include a combination of single-level layouts and townhouses, with a one-car garage assigned to each. Three of the six units, including the front residence, are expected to be delivered vacant at closing. The property is located just south of Montana Avenue in Santa Monica.
Five other apartments include a combination of single-level layouts and townhouses, with a one-car garage assigned to each. Three of the six units, including the front residence, are expected to be delivered vacant at closing. The property is located just south of Montana Avenue in Santa Monica.
Key Highlights
- Six‑unit apartment property built in 1970
- Three of six units, including the front residence, to be delivered vacant at closing
- Three‑level front unit includes 3 bedrooms, 3.5 bathrooms, bonus room, and four‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,081
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,121,620
$3.1M
Cap Rate 7%
$2,229,729
$2.2M
Cap Rate 9%
$1,734,233
$1.7M
Market Conditions
NOI Build-Up for 9,700 SF
Gross rent
$308.5K $31.80/SF
− Vacancy
−$24.7K −$2.54/SF
EGI
$283.8K $29.26/SF
− OpEx
−$127.7K −$13.17/SF
NOI
$156.1K $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 Rate 5%
$3,121,620
Cap Rate 7%
$2,229,729
Cap Rate 9%
$1,734,233
Alternative Uses
Best Use
Apartment 5plus
$2.23M
$1.95M – $2.60M
NOI $156,081 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.19M
$4.54M – $6.06M
NOI $363,534 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,133
Businesses Nearby
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Business Placement
Demographics for 90403, CA
25,278
Population
14,853
Households
1.7
Avg Household Size
42
Median Age
72%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
18,056
Density / Sq Mi
$121,512
Median Household Income
$82,557
Median Earnings
$2,443
Median Rent
$1,553,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Mix of townhouse and single-level residences supports both owner-user and investment configurations.
Where is this apartment building located?
The property is located at 828 16TH Street Santa Monica, CA.
What is the asking price?
The asking price for this property is $4,895,000.
What are key features of this property?
This property features: Six‑unit apartment property built in 1970; Three of six units, including the front residence, to be delivered vacant at closing; Three‑level front unit includes 3 bedrooms, 3.5 bathrooms, bonus room, and four‑car garage
