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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$2,395,000

Est. payment - /mo

9 Beds

5 Baths

4,646 SqFt

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Open House

Sun Apr 26, 2:00pm - 5:00pm

Tue Apr 28, 11:00am - 2:00pm

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,646 sqft

Price per Sqft $515

MLS Listing ID 26774525

Bedrooms 9

HOA Y/N No

Year Built 1963

Lot Size 6,486 Sqft

Property Description

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 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!

Location

State CA

County Los Angeles

Area C14 - Santa Monica

Zoning SMR2*

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Appliance Dryer, Washer

Laundry Common Area

Exterior

Parking Features Attached Carport, Carport

Carport Spaces 6

Pool None

Porch Deck, Enclosed

Total Parking Spaces 10

Private Pool No

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Schools

School District Santa Monica-Malibu Unified

Others

Senior Community No

Tax ID 4284013009

Special Listing Condition Standard

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Listed by Janet Heinzle Douglas Elliman of California, Inc. #02080077

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

1044 Pacific ST Santa Monica, CA 90405