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We are pleased to present a fifteen (15) unit apartment building located at 1860 9th Street in Santa Monica, California. The subject property is located in a prime Santa Monica location just north of Lincoln Boulevard and west of Pico Boulevard. Built in 1955, this property contains an excellent unit mix of one (1) studio / one-bathroom unit and fourteen (14) two-bedroom / one and a half-bathroom units. The property consists of a double-lot with one being zoned commercial. All units face the well-maintained inner courtyard. The units boast a ton of character with lovely tile and wood flooring, tile counters, French doors, antique light fixtures, and other built-in decorative elements. There is shared laundry on-site with newer Maytag high efficiency appliances. This rare, mid-size asset goes street-to-street with eight (8) garage parking spaces off of Lincoln Court, three (3) covered carports with storage spaces above, and seven (7) uncovered interior parking spaces. Most of the storage can be rented for additional income, and there is a private storage room attached to the southern garage. There is great potential to convert the garage spaces into multiple ADU units. Tenants will love living only one (1) mile to Santa Monica Pier, with easy access to major transportation and some of the strongest employment hubs available throughout Los Angeles County. Situated in a prime Santa Monica location, this offering presents an excellent opportunity for any investor to capitalize on the strong initial cash flow coupled with the opportunity to build out multiple ADU(s) with a very favorable loan assumption.

DAYS ON MARKET 39 LAST UPDATED 3/22/2024
YEAR BUILT 1955 COMMUNITY Santa Monica
GARAGE SPACES 8.0 COUNTY Los Angeles
STATUS Active PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
APPLIANCES Built-In, Dryer, Oven, Range, Refrigerator, Washer
AREA Santa Monica
BUYER'S BROKERAGE COMPENSATION 2.500 %
FIREPLACE Yes
GARAGE Carport, Covered, Garage, Gated, Storage, Uncovered, Yes
HEAT Wall Furnace
LOT 0.33 acre(s)
LOT DESCRIPTION Lawn, Yard
PARKING Covered,Carport,Garage,Gated,Storage,Uncovered
POOL DESCRIPTION None
STORIES 2
VIEW Yes
VIEW DESCRIPTION City Lights
ZONING SMR2-C4*
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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*Estimate only

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Listed with Marcus & Millichap

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Based on information from California Regional Multiple Listing Service, Inc. as of 4/28/24 4:53 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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