Approved 7-Unit Apartment
914 18th St Santa Monica, CA 90403
914 18th St, Santa Monica, CA, 90403
$2,550,000
For Sale
$2,550,000
MULTI_FAMILY - Santa Monica, CA
Property Size5,100 SF
Lot Size0.18 Acres
Price / SF$500
Days on Market49
Property Features for 914 18th St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- SMR2*
- Bedrooms
- 7
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 7, Bedroom 4, Bathroom 4, Bathroom 5, Bedroom 5, Bathroom 6, Bedroom 6, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 8, Bathroom 1, Bathroom 7
- Parking
- 5
- Standard status
- Active
- APN
- 4277-009-003
- Size
- 5,100 SF
- Lot size
- 0.18 Acres
Building Details
- Year built
- 1927
- Floors in Building
- 2
- Number of units
- 7
Listing Agency
Rodeo Realty
(310) 724-7100
202 N Canon Dr., Beverly Hills, CA
Listed by
Jimmy Heckenberg · License #01910100
(310) 650-1116
Added: Jun 1 Checked: Jul 19 at 9:06 am
MLS# 26841047
Listing URL
Copyright © 2026 The MLS/CLAW. 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.
This property presents a rare value-add development opportunity in Santa Monica, delivered RTI and fully approved for a 7-unit apartment complex. The existing site is arranged around a courtyard with four bungalow-style residences, consisting of one one-bedroom and three two-bedrooms, surrounding a sun-filled garden. The approved plans call for a tasteful renovation of the existing homes into Class A Spanish-style bungalows. The plan also adds three new residences: a duplex placed in the center courtyard and a studio ADU above the garage. The overall result is a boutique collection of seven residences designed to blend historic courtyard charm with updated, modern functionality.
The site is located at 914 18th St in Santa Monica, within Los Angeles County. The offering is positioned as a plug-and-play opportunity with stamped permits in hand and no delay in starting construction, supporting an efficient path from approvals to build-out.
For investors and developers looking for a new multifamily addition in a strong, supply-constrained rental market, the project’s approved scope and immediate construction readiness make it well suited for hands-on development strategies or buyers seeking a streamlined transition into build. The combination of renovated bungalow units and new ADU/duplex components also offers flexibility for tenant positioning within a coastal rental setting.
The site is located at 914 18th St in Santa Monica, within Los Angeles County. The offering is positioned as a plug-and-play opportunity with stamped permits in hand and no delay in starting construction, supporting an efficient path from approvals to build-out.
For investors and developers looking for a new multifamily addition in a strong, supply-constrained rental market, the project’s approved scope and immediate construction readiness make it well suited for hands-on development strategies or buyers seeking a streamlined transition into build. The combination of renovated bungalow units and new ADU/duplex components also offers flexibility for tenant positioning within a coastal rental setting.
Key Highlights
- Fully approved 7‑unit apartment complex with RTI delivered
- Existing site features a courtyard arrangement of 4 bungalow‑style residences: 1 one‑bedroom and 3 two‑bedrooms
- Approved plans include renovation of existing units into Spanish‑style bungalows
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 | $162.2k | $31.80 |
| − Vacancy | −$13.0k | −$2.54 |
| EGI | $149.2k | $29.26 |
| − OpEx | −$67.1k | −$13.17 |
| NOI | $82.1k | $16.09 |
5,100 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,063 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,136 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Value-add development with RTI permits for a planned seven-residence apartment complex in Santa Monica.
Where is this apartment building located?
The property is located at 914 18th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Fully approved 7‑unit apartment complex with RTI delivered; Existing site features a courtyard arrangement of 4 bungalow‑style residences: 1 one‑bedroom and 3 two‑bedrooms; Approved plans include renovation of existing units into Spanish‑style bungalows
