1019 6th St Santa Monica, CA 90403
Pending
$4,450,000
10 Units
13 Beds
13 Baths
7,764 Area(sq.ft.)
7,496 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 3 | 2 | 2 | No | $ 3,562 | $ 10,685 | $ 13,485 |
| Unit 2 | 7 | 1 | 1 | No | $ 2,276 | $ 15,929 | $ 22,365 |
| 2 | 10 | 13 | 13 | $ 26,618 | $ 143,558 | $ 197,010 |
| MLS #: | 24-434419 |
| Days On Market: | 66 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 573 |
| Price per unit: | $ 445,000 |
| Year Built: | 1956 |
Property Details
We are pleased to offer for sale an incredible multifamily asset located at 1019 6th Street in the heart of LA's famed beach city of Santa Monica. Originally built in 1956, the building boasts an ideal unit mix consisting of all large 1 & 2-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light. Perfect for a long-term investor, the property has incredible rental upside, an intercom entrance, ample on-site parking (soft story retrofit has been completed), all copper plumbing, a newer roof, as well as an on-site laundry facility. The unit mix includes (7) 1-bed, 1-bath units and (2) 2-bed, 2-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC(select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor's portfolio. A quick stroll to downtown Santa Monica, Montana Avenue, and the beach, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 1019 6th Street gives buyers the unique opportunity to own a generational asset in one of LA's most prized and coveted locations.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | Yes, 100% |
| Vacancy Rate: | 9581% |
| Gross Operating Income: | $ 321,368 |
| Total Annual Expense: | $ 82,273 |
| Net Operating Income: | $ 229,514 |
| Gross Annual Income: | $ 319,368 |
| Cap Rate: | 5.16% |
| Gross Rent Multiplier: | 13.85 |
Structure
| Type of Units: | 2s,1s |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Assigned |
| Total Parking: | 11 |
Interior
| AC/Cooling: | Window Unit(s), Central |
| Equipment: | None |
| Heating: | Central, Wall |
| Laundry Equipment: | Own |
Exterior
Detailed Map
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Income
