1437 9th St 16 Unit Apartment Building $7,126,800 CAD ($445,425 CAD/Unit) 5.38% Cap Rate Santa Monica, CA 90401
INVESTMENT HIGHLIGHTS
- Courtyard and double lot multifamily property!
- Centrally located on the boarder of Mid-City and Downtown Santa Monica.
- Nearby access to Lincoln Blvd. and the 10 Freeway.
- Great investment opportunity in Santa Monica!
- Immediate neighborhood hosts an array restaurants, coffee shops, fitness studios and boutiques.
EXECUTIVE SUMMARY
PRICE IMPROVEMENT!! 1437-1443 9th St. Santa Monica -- First time to market in over 60 years! Beautiful, income generating 16-unit apartment complex spanning two lots in Santa Monica. The apartments in the complex open up to a large grass courtyard bathed in California sunshine. The spacious property also lends itself to a potential for development in the heart of Santa Monica. On the boarder of Downtown and Midcity Santa Monica, this complex is surrounded by restaurants and shops, and just minutes from the beach and 10 Freeway. Two parcels totaling: approximately ~14,990 square feet of land and ~6,480 square feet of building per the assessor.
Two Separate APN's being sold together: 4282-026-014 & 4282-026-015. Showings: Inside with accepted offers, please do not disturb tenants. Expenses estimated and included estimated new property tax based on list price.
Two Separate APN's being sold together: 4282-026-014 & 4282-026-015. Showings: Inside with accepted offers, please do not disturb tenants. Expenses estimated and included estimated new property tax based on list price.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $7,126,800 CAD |
| Price Per Unit | $445,425 CAD |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| Gross Rent Multiplier | 13.46 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 6,486 SF |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 2.14/1,000 SF |
AMENITIES
- Ventilation - Venting
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Kitchen
- Ice Maker
- Refrigerator
SITE AMENITIES
- Courtyard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
| 2+1 | 2 | - | - |
1 of 1
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (76)
Bike Score®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,764,300 CAD (2024) | |
| Land Assessment | $1,958,816 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $805,484 CAD (2024) | Tax Year | 2023 |
ZONING
| Zoning Code | SMR3 (Apartment) |
