1117 6th Street presents a rare opportunity to acquire a well-located, 27-unit multifamily asset in the heart of Santa Monica, just three blocks from the beach and within walking distance to the world-renowned 3rd Street Promenade. Built in 1971 and offered for sale for the first time in over 40… Read More years, the property spans approximately 29,535 square feet on a 14,800 square foot lot and offers an ideal unit mix for the local tenant base: nine (9) 1-bedroom/1-bath units, ten(9) 1-bedroom/1.5-bath units with dens, six (7) 2-bedroom/2-bath units, and two (2) 2-bedroom/2-bath units with dens. Many units feature spacious floorplans, ample closet space, and extra storage. The building has undergone recent capital improvements, including a new roof installed just two years ago and completed balcony inspections and repairs, reducing near-term capital needs. Residents enjoy 40 gated garage parking spaces, controlled-access entry, onsite laundry facilities, and an elevator, all of which enhance tenant convenience and retention. The property is attractively priced at under $420 per square foot, offering investors significant value relative to comparable assets in this supply-constrained coastal market. With stable in-place income and meaningful upside through interior renovations and tenant turnover, 1117 6th Street presents a compelling blend of immediate cash flow and long-term appreciation potential. Situated in one of Southern California's most desirable rental markets with walkable access to retail, dining, employment centers, and transit this asset is well-positioned for investors seeking a well-maintained building with growth potential. Read Less
Property listed by Marcus & Millichap, Michael Sterman 818-212-2700
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Beds
36
Square Ft.
29,535
Lot Size
0.34 Acres
Year Built
1971
MLS Number
25583817
30 Days Snapshot Of 90403
$1.94M
-2%
(avg) sold price
11
-15%
homes sold
68
-8%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1971, Building area total: 29,535, Levels: MultiSplit, Living area: 29535, 1 building
Income
Gross income: $890,856, Net operating income: $513,391
Lot
0.3448 acres, 15,019 square feet, Size: 15,019
Parking
40 totals parking, Gated
Property
Zoning: SMR2*
Find The Perfect Home
'VIP' Listing Search
Join our email list to have access to the best off market listings in Los Angeles.
Based on information from California Regional Multiple Listing Service, Inc. as of 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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
