An exceptional opportunity to own a classic Post & Beam 5-unit income property in mostly original, well-maintained condition. Situated on a quiet residential street in one of Santa Monica's most sought-after neighborhoods, this property is ideally suited for both investors and owner-users. Each unit features its own private balcony… Read More and covered parking space with additional storage, while an on-site laundry room adds everyday convenience. Upper units enjoy treetop views, floor-to-ceiling windows, and abundant natural light, enhancing the architectural appeal. Original wood paneling and signature glass elements remain intact, offering a rare opportunity for Post & Beam enthusiasts to own a property with authentic mid-century character. With one unit currently vacant (previously rented at $3,200/month), the property offers immediate upside through lease-up and the potential to enhance long-term returns. Once fully rented, the asset supports a cap rate of approximately 5%, in line with Santa Monica market expectations. Relatively low operating costs, combined with significant recent capital improvements including approximately $181,000 invested in new balconies and stairs (fully inspected and approved), as well as upgraded electrical panels in all units create a compelling blend of stability and future growth. Located near Santa Monica College and just over a mile from Main Street and Santa Monica Beach, the property offers the best of Westside living. Enjoy close proximity to the vibrant dining and retail scenes of Abbot Kinney and Ocean Park's popular "Mini Kinney," making this a highly desirable rental location with consistently strong demand. With low vacancy rates, excellent tenant appeal, and clear upside potential, this gem of a property represents a standout long-term investment in a location that is hard to beat! Read Less
Property listed by Douglas Elliman of California, Inc., Janet Heinzle 310-259-7556
Listing Snapshot
Days Online
61
Last Updated
Beds
9
Square Ft.
4,646
Lot Size
0.15 Acres
Year Built
1963
MLS Number
26774525
Additional Details
Appliances & Equipment
Dryer, Washer
Building
Built in 1963, Living area: 4646.0, 1 building, 2 stories, Levels: Two
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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