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    Property profile & analytics

    1044 3rd St Santa Monica, CA 90403-3704

    • Residential income homes
    • 9,680 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Jun 29, 2022
    $6,935,569
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-0297432
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ocean View Manor / Hotel & Motel / Bed & Breakfast

    Property Details for 1044 3rd St

    Construction
    WOOD
    Lot size
    0.34 lot acres
    Property size
    9,680 SF
    Zone code
    SMR3*
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    4292-022-007
    APU
    4292022007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.502
    Latitude
    34.02
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $85,271
    $5,030,854
    $2,184,840
    $7,215,694
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,975,000
      62,238 SF

      849 Ocean Ave

      BOARDING/ROOMING HOUSE • 62,238 SF
      849 Ocean Ave, Santa Monica, CA 90403-1003
      View Details
    • Value Estimation
      $825,000
      5,959 SF

      902 10th St

      APARTMENT HOUSE (5+ UNITS) • 5,959 SF
      902 10th St, Santa Monica, CA 90403
      View Details
    • Value Estimation
      $1,390,000
      8,879 SF

      827 10th St

      APARTMENT HOUSE (5+ UNITS) • 8,879 SF
      827 10th St, Santa Monica, CA 90403-1616
      View Details
    • Value Estimation
      $1,790,000
      13,658 SF

      951 10th St

      APARTMENT HOUSE (5+ UNITS) • 13,658 SF
      951 10th St, Santa Monica, CA 90403-2993
      View Details
    • Value Estimation
      $1,905,000
      8,738 SF

      941 10th St

      APARTMENT HOUSE (5+ UNITS) • 8,738 SF
      941 10th St, Santa Monica, CA 90403-2961
      View Details
    • Value Estimation
      $5,275,000
      40,672 SF

      921 10th St

      APARTMENT HOUSE (5+ UNITS) • 40,672 SF
      921 10th St, Santa Monica, CA 90403-2956
      View Details

    Similar Nearby for Sale

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      Two-story, six-unit building in prime Santa Monica location.
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      Montana Avenue Multifamily Investment Opportunity

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      Santa Monica Multifamily Investment Opportunity

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      Santa Monica Multifamily Investment Opportunity

      Spanish-style multifamily property near Montana Ave, beach, and Downtown Santa Monica.
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    • $2,750,000
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      Santa Monica Multifamily Development Opportunity

      Approved 7-unit apartment complex development in Santa Monica.
      914 18Th St, Santa Monica, CA 90403
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    • Contact for pricing
      9,962 SF

      Santa Monica Multifamily Investment Opportunity

      Multifamily property in desirable Santa Monica residential neighborhood.
      1041 9Th St, Santa Monica, CA 90403
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    Similar Nearby for Lease

    • Contact for pricing

      Fully Leased Retail Opportunity

      Retail property in Santa Monica, currently 100% leased.
      1624-1630 Montana Ave, Santa Monica, CA 90403
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    • Contact for pricing
      8,399 SF

      Santa Monica Office Space Available

      Office space featuring a conference room, kitchen, and open bullpen.
      3130 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • Contact for pricing

      Fully Leased Santa Monica Retail

      Retail property in Santa Monica, currently 100% leased.
      2710-2714 Wilshire Blvd, Santa Monica, CA 90403
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    • Contact for pricing

      Santa Monica Office Space Available

      Office space available in Santa Monica, approximately 2,750 square feet.
      1149 3Rd St, Santa Monica, CA 90403
      View Details
    • Contact for pricing

      Santa Monica Office Space Available

      Office space available for lease in Santa Monica, CA.
      1801 Wilshire Blvd, Santa Monica, CA 90403
      View Details
    • Contact for pricing

      Santa Monica Free Standing Building

      Single tenant building suitable for medical, creative, or retail use.
      1314 Wilshire Blvd, Santa Monica, CA 90403
      View Details
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    1044 3rd St
    Santa Monica, CA 90403-3704
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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