2517 20th St Santa Monica, CA 90405
Active
$2,250,000
5 Units
7 Beds
5 Baths
3,219 Area(sq.ft.)
6,766 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 3,500 | $ 3,500 | $ 3,605 |
| Unit 2 | 1 | 1 | 1 | No | $ 1,353 | $ 1,353 | $ 1,393 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,903 | $ 2,903 | $ 2,990 |
| Unit 4 | 1 | 2 | 1 | No | $ 3,000 | $ 3,000 | $ 3,090 |
| Unit 5 | 1 | 2 | 1 | No | $ 3,525 | $ 3,525 | $ 3,630 |
| 5 | 5 | 7 | 5 | $ 14,280 | $ 14,280 | $ 14,708 |
| MLS #: | 25-486165 |
| Days On Market: | 36 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 699 |
| Price per unit: | $ 450,000 |
| Year Built: | 1938 |
Property Details
This exceptionally charming 5-unit residential property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated property has immense charm and offers long-term growth potential. The property has been meticulously maintained. Four of the five units have been remodeled and three feature in-unit laundry, the other two have private laundry inside their garage. Original, refinished hardwood floors, two of the units have split AC units, two of the units have quartz and granite countertops, and tiled showers. There is gated entry and a new roof. Comprised of 5 units, this property offers both immediate rental income and long-term growth potential. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Two of the front units on the ground level have individual enclosed garages. The two rear units each have a storage garage. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. The current tenants are professionals and the units are well maintained. One 1 bedroom/1 bathroom unit will be available 2/1/2025. This is a fantastic opportunity for investors seeking a steady cash flow in a thriving market.Interested in this Listing?
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Income Details
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 171,354 |
| Total Annual Expense: | $ 44,225 |
| Net Operating Income: | $ 127,129 |
| Gross Annual Income: | $ 171,354 |
| Cap Rate: | 5.65% |
| Gross Rent Multiplier: | 13.13 |
Structure
| Type of Units: | 5 units |
| Buildings: | 2 |
| Levels: | One, Two |
| Style: | Spanish |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Assigned |
Interior
| AC/Cooling: | Wall Unit(s) |
| Equipment: | Refrigerator, Range/Oven, Dryer, Washer |
| Heating: | Wall |
| Laundry: | In Unit, Community |
Exterior
Detailed Map
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