1224 9th St is a newly listed 10 unit multifamily opportunity in the heart of Santa Monica, positioned between Wilshire Blvd and Arizona Ave in one of the city's most walkable and supply-constrained residential corridors. The property consists of (10) 1 Bed/1 Bath units spread across approximately 6,380 square feet,… Read More situated on a 7,493 square foot lot zoned SMR3. Current rents average well below market, reflecting approximately 38% upside as units turn. The property is 90% occupied and features nine on-site parking spaces, four covered carport spaces in front and five in the rear accessed from the alley, a highly valuable amenity in a neighborhood where off-street parking is limited and consistently in demand. The property boasts a Walk Score and Rider's Score of 100 out of 100, placing residents within steps of Wilshire Blvd's dining, retail, and everyday conveniences, and just minutes from Downtown Santa Monica and the Pacific Ocean. Beyond rental upside, SB 1211 provides a pathway to organically grow income through ADU development without expanding the existing building footprint, creating a compelling additional value-add component. Together, these attributes position 1224 9th St as a rare opportunity to acquire a stable, income-producing asset in one of the Westside's most enduring coastal markets. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., William James 310-259-7556
Listing Snapshot
Days Online
30
Last Updated
Beds
10
Square Ft.
6,380
Lot Size
0.17 Acres
Year Built
1957
MLS Number
26672391
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1957, Living area: 6380.0, 1 building, Building faces East, 2 stories, Levels: Two, Entry location: Ground Level w/steps, Construction Materials: Stucco
Cooling
WallWindowUnits
Exterior Features
Patio/Porch Features: None
Fireplaces
None
Heating
WallFurnace
Income
Gross Income: $214,324, Net Operating Income: $134,095
Lot
0.1721 acres, Dimensions: 50x150
Parking
4 carport spaces, 5 open parking spaces, 9 total parking spaces, AttachedCarport, Assigned
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.
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