12-Unit Apartment
918 7th St, Santa Monica, CA 90403
For Sale
$4,495,000
Renovated apartments feature private outdoor space and parking near Montana Avenue’s shops and restaurants.
Property Size9,420 SF
Days on Market10
Property Features for 918 7th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
private balconies
patios
outdoor rooftop deck
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Miller & Desatnik Realty Co.
Listed By:
Dominick Faraone · License CA #01925895
Source:
Themalibulife
Added: Nov 5
Changed: Nov 13
Last Checked: Nov 12 at 5:47PM
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 Miller & Desatnik Realty Co.
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Investment Insights
Based on property information with market context.
Built in 1959, this 12-unit apartment property contains eight one-bedroom residences and four two-bedroom residences. Improvements include a seismic retrofit, newer windows, and renovations in several units. Interiors feature wood flooring, recessed lighting, and dishwashers, while private balconies or patios provide outdoor space. An upstairs rear residence also has a rooftop deck, and each unit can accommodate an in-unit washer and dryer.
Parking includes four tandem spaces at the front of the building, along with covered spaces accessed from the rear alley. The property is one block south of Montana Avenue, with shops, restaurants, and cafes within walking distance. Palisades Park is also nearby.
Parking includes four tandem spaces at the front of the building, along with covered spaces accessed from the rear alley. The property is one block south of Montana Avenue, with shops, restaurants, and cafes within walking distance. Palisades Park is also nearby.
Key Highlights
- 12 apartments: eight one‑bedroom units and four two‑bedroom units
- Seismic retrofit completed; newer windows and renovations in several units
- Private balconies or patios; rear upstairs unit has a rooftop deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,575
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,031,500
$3.0M
Cap Rate 7%
$2,165,357
$2.2M
Cap Rate 9%
$1,684,167
$1.7M
Market Conditions
NOI Build-Up for 9,420 SF
Gross rent
$299.6K $31.80/SF
− Vacancy
−$24.0K −$2.54/SF
EGI
$275.6K $29.26/SF
− OpEx
−$124.0K −$13.17/SF
NOI
$151.6K $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%
$3,031,500
Cap Rate 7%
$2,165,357
Cap Rate 9%
$1,684,167
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.89M – $2.53M
NOI $151,575 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.04M
$4.41M – $5.88M
NOI $353,040 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
5,738
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
$1,553,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Santa Monica, CA
Properties on Market for Apartment buildings in Santa Monica
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated apartments feature private outdoor space and parking near Montana Avenue’s shops and restaurants.
Where is this apartment building located?
The property is located at 918 7th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: 12 apartments: eight one‑bedroom units and four two‑bedroom units; Seismic retrofit completed; newer windows and renovations in several units; Private balconies or patios; rear upstairs unit has a rooftop deck
