833 5th St Santa Monica, CA 90403
Pending
$10,995,000
8%
24 Units
35 Beds
37 Baths
20,896 Area(sq.ft.)
15,010 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 2 | studio | 1 | No | $ 2,200 | $ 4,400 | $ 4,470 |
| Unit 2 | 10 | 1 | 1 | No | $ 1,929 | $ 21,219 | $ 33,235 |
| Unit 3 | 11 | 2 | 2 | No | $ 1,977 | $ 21,748 | $ 42,845 |
| Unit 4 | 1 | 3 | 3 | No | $ 4,995 | $ 4,995 | $ 5,000 |
| 4 | 24 | 35 | 37 | $ 50,432 | $ 465,213 | $ 817,585 |
| MLS #: | 24-438047 |
| Days On Market: | 73 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 526 |
| Price per unit: | $ 458,125 |
| Year Built: | 1964 |
Property Details
This prime Santa Monica property, located on 5th Street just off of Montana Avenue, is a 24-unit apartment complex. The property features a desirable unit mix, including 2 singles, 10 one-bedroom/one-bath units, 11 two-bedroom/two-bath units, and a spacious three-bedroom/three-bath unit. Residents will enjoy spacious open floor plans, ample parking with over 30 spaces, and convenient amenities like laundry rooms on each floor, a refreshing pool, all copper plumbing and new solar panels. The property's elevator provides easy access to all three floors. Walk and bike everywhere. This prime location, just five blocks from the beach, is walking distance to Montana Avenue with easy access to a variety of restaurants, shops, and entertainment options. Additionally, the property is situated within the highly sought-after Santa Monica School District and is conveniently located near neighboring West Los Angeles communities, including Brentwood, Pacific Palisades, Venice Beach, and Marina del Rey. This well-established property has been built, owned and operated by the same family for decades. Roof and elevator are older. PLEASE DO NOT DISTURB TENANTS.Interested in this Listing?
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Income Details
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 610,191 |
| Total Annual Expense: | $ 268,595 |
| Net Operating Income: | $ 341,596 |
| Gross Annual Income: | $ 610,191 |
| Cap Rate: | 3.11% |
| Gross Rent Multiplier: | 18.02 |
Structure
| Type of Units: | Apartments |
| Buildings: | 1 |
| Levels: | Three Or More |
Land & Parking
| Zoning: | SMR2* |
| Parking Garage: | Garage - 1 Car, Garage - 2 Car, Community Garage |
| Covered Parking: | 24 |
| Total Parking: | 31 |
Interior
| AC/Cooling: | None |
| Equipment: | Ceiling Fan |
| Heating: | Natural Gas |
Exterior
Detailed Map
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