Approved Seven-Unit Apartment
New
For Sale
$2,495,000
914 18th St, Santa Monica, CA 90403
MULTI_FAMILY - Santa Monica, CA
Property Size5,100 SF
Lot Size0.18 Acres
Price / SF$489.22
Days on Market2
Property Features for 914 18th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SMR2*
Bedrooms
7
Bathrooms
4
Full bathrooms
8
Rooms
Bedroom 5, Bathroom 7, Bathroom 8, Bathroom 6, Bedroom 2, Bathroom 4, Bathroom 5, Bedroom 7, Bedroom 6, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Parking
5
Directions
South of Montana between Idaho and Washington
Subdivision
Santa Monica
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
Listed By:
Jimmy Heckenberg · License #01910100
(310) 650-1116
Added: Aug 4
Last Checked: Aug 5 at 9:06AM
MLS# 26868435
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.
The property comprises a 5,100-square-foot courtyard arrangement built in 1927, with four existing bungalow residences: one one-bedroom unit and three two-bedroom units. A garden occupies the center of the layout. Approved plans call for renovating the current residences and adding three units, including a centrally positioned duplex and a studio ADU above the garage, creating a seven-unit apartment complex. Stamped permits are in place for the planned work.
The 0.1842-acre site is located at 914 18th St in Santa Monica, within Los Angeles County. The property is identified with SMR2* zoning. The approved concept retains the existing bungalow arrangement while introducing additional residential space through the new duplex and garage-top ADU.
The 0.1842-acre site is located at 914 18th St in Santa Monica, within Los Angeles County. The property is identified with SMR2* zoning. The approved concept retains the existing bungalow arrangement while introducing additional residential space through the new duplex and garage-top ADU.
Key Highlights
- Approved plans for a 7‑unit apartment complex
- Existing mix includes one 1‑bedroom and three 2‑bedroom bungalow residences
- 0.1842‑acre site with a 5,100‑square‑foot property
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 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,136 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
7,737
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Stamped permits support renovation and expansion of the existing courtyard bungalow configuration.
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 $2,495,000.
What are key features of this property?
This property features: Approved plans for a 7‑unit apartment complex; Existing mix includes one 1‑bedroom and three 2‑bedroom bungalow residences; 0.1842‑acre site with a 5,100‑square‑foot property
