2517 20th Street,Santa Monica, CA 90405
Santa Monica, CA 90405
Description
This exceptionally charming 5-unit multi-family property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated property has immense appeal and offers long-term growth potential. The property has been meticulously maintained. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Four of the five units have been remodeled; three feature in-unit laundry, the other two units have private laundry inside their garage. There are refinished hardwood floors, three of the five units have split AC units, quartz/granite countertops and tiled showers. In January 2025 a new roof was installed on the rear building, and in late 2024 the front building was recoated. Two of the front units have individual enclosed garages; three units have assigned parking. This property offers both immediate rental income and long-term growth potential. This property has just undergone significant capital improvements including soft story/seismic retrofit work, resulting in a building that is fully stabilized and ready to go. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. Operating at a 100% occupancy, the property yields a highly attractive Pro-Forma Cap Rate of 4.69%. The current tenants are professionals and the units are well maintained. This is a fantastic opportunity for investors seeking a steady cash flow in a thriving, rent resilient market. There is an excellent property management company in place. This is rare turnkey acquisition.
Details
| MLS # | 26654207 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1938 |
| Days On Site | 183 |
| Listing Provided By | Coldwell Banker Realty | Julie Lovett |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 3,219 |
| Story(s) | 1 |
| Units | 5 |
| Building(s) | 2 |
| Zoning | SMR2* |
| Acreage | 0.16 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Appliances | Refrigerator, Dryer, Washer |
| Fireplace Yes / No | No |
Parking
| Parking Features | Assigned |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90405 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90405) | |
Price: $2,280,000 low | high Med: $1,044,000 sqft: 3,219 low | high Med: 1,081 $ / sqft: $708 low | high Med: $966 On site: 183 low | high Med: 119 | |
Market Activity 90405
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90405 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90405) | |
Price: $2,280,000 low | high Med: $1,044,000 sqft: 3,219 low | high Med: 1,081 $ / sqft: $708 low | high Med: $966 On site: 183 low | high Med: 119 | |
 | $2,400,0002310 Oak StreetSanta Monica, CA 90405 |