Apartment Building with Ocean-View Roof
New
For Sale
$7,000,000
834 2nd St, Santa Monica, CA 90403
Renovated residences include balconies, contemporary finishes, elevator service, and secured entry.
Property Size13,266 SF
Price / SF$527.66
Days on Market4
Property Features for 834 2nd St
General Information
Standard status
Active
Size
13,266 SF
Elevators
Yes
Property subtype
Multi-Family
Site & Location
Neighborhood
Wilshire
Amenities
security access
panoramic roof top deck
large balconies
ocean views
Building Details
Year Built
1969
Listed By:
Accardo Real Estate Associates - AREA
(310) 686-9361
Source:
Naylorproperties
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 26 at 4:07PM
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 Accardo Real Estate Associates - AREA
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Investment Insights
Based on property information with market context.
This 13,266-square-foot apartment building, completed in 1969, has renovated interiors with quartz countertops, stainless-steel appliances, wood flooring, and contemporary finishes. The residences include balconies with ocean views, while secured entry and elevator access serve the building. A rooftop deck also provides ocean views.
The property is steps from Montana Avenue and two blocks from Ocean Avenue, Santa Monica Beach, Palisades Park, and Third Street Promenade.
The property is steps from Montana Avenue and two blocks from Ocean Avenue, Santa Monica Beach, Palisades Park, and Third Street Promenade.
Key Highlights
- 13,266‑square‑foot apartment building completed in 1969
- Renovated units feature quartz countertops, stainless‑steel appliances, and wood flooring
- Balconies in the residences offer ocean views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$213,461
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,269,220
$4.3M
Cap Rate 7%
$3,049,443
$3.0M
Cap Rate 9%
$2,371,789
$2.4M
Market Conditions
NOI Build-Up for 13,266 SF
Gross rent
$421.9K $31.80/SF
− Vacancy
−$33.7K −$2.54/SF
EGI
$388.1K $29.26/SF
− OpEx
−$174.6K −$13.17/SF
NOI
$213.5K $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%
$4,269,220
Cap Rate 7%
$3,049,443
Cap Rate 9%
$2,371,789
Alternative Uses
Best Use
Apartment 5plus
$3.05M
$2.67M – $3.56M
NOI $213,461 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.10M
$6.21M – $8.29M
NOI $497,180 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
4,859
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated residences include balconies, contemporary finishes, elevator service, and secured entry.
Where is this apartment building located?
The property is located at 834 2nd St Santa Monica, CA.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 13,266‑square‑foot apartment building completed in 1969; Renovated units feature quartz countertops, stainless‑steel appliances, and wood flooring; Balconies in the residences offer ocean views
