833 5th St Santa Monica, CA 90403-1326

Property Details for 833 5th St

Year built

1964

Construction

WOOD

Lot size

0.34 lot acres

Property size

20,896 SF

Zone code

SMR2*

Property type

Apartment buildings

APN

4292-009-027

APU

4292009027

Description

This exceptional three-story apartment building, located at 833 5th Street in Santa Monica, California, presents a compelling investment opportunity. Boasting 20,896 square feet on a 15,005 square foot lot, this 1964-built property features 24 units, offering a desirable mix of unit sizes: two studios, ten one-bedroom/one-bathroom, eleven two-bedroom/two-bathroom, and one spacious three-bedroom/three-bathroom unit. The building includes over 30 parking spaces, a refreshing pool, and convenient amenities such as laundry rooms on each floor and a recently installed solar panel system. All copper plumbing is another notable feature. An elevator provides easy access to all three floors. The property is zoned SMR2 and enjoys a prime location just five blocks from the beach and within walking distance of Montana Avenue's vibrant restaurants and shops. Its proximity to the highly sought-after Santa Monica School District and neighboring communities like Brentwood, Pacific Palisades, Venice Beach, and Marina del Rey further enhances its desirability. The property has a strong operating history, with a Net Operating Income (NOI) of $329,536 and a 2.75% cap rate. The asking price is $10,995,000, representing a price per unit of $500,000 and a price per square foot of $574.27. While the roof and elevator are older, this presents a potential value-add opportunity for a savvy investor. Please note that the property is currently occupied, and tenants should not be disturbed. The APN is 4292-009-027.

Location Insight

City

Santa Monica

County

Los Angeles

State

California

Longitude

-118.503

Latitude

34.0248

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments