This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Santa Monica Location | 6 Units 1813 9th St

6 Unit Apartment Building $3,981,600 CAD ($663,600 CAD/Unit) 4.85% Cap Rate Santa Monica, CA 90404

Investment Highlights

  • Excellent Unit Mix of 2 (2+1.5’s) and 4 (3+2’s)
  • Significant Capital Improvements including a Newer Roof, Copper Plumbing, Electrical Upgrades, and a Newer Water Heater
  • True Value-Add Opportunity with Current Rents ±49% Under Market
  • Half of the Units are Townhouse-Style Units
  • Select Units have been Extensively Upgraded with Designer Finishes
  • Exceptional Market Fundamentals 2024 Average Home Value of $1,703,436 and 2024 Average Household Income of $174,679

Executive Summary

Built in 1963, on a ±7,485 square foot R2 lot, 1813 9th Street is a two-story, six-unit multifamily property with a total building size of ±7,763 square feet. The well-maintained property is separately metered for gas and electric, is serviced by a central water heater, and offers an on-site laundry facility, one two-car garage, and five carport parking spaces with storage bins. In recent years, the property has seen significant capital improvements including a new roof, copper plumbing in most units, an updated electrical panel in laundry room, and a newer water heater. Additionally, two units have been extensively upgraded to include individual tankless water heaters and in-unit laundry.
1813 9th Street boasts an exceptional unit mix of two two-bedroom/one-and-one-half-bathroom townhouse-style units, three three-bedroom/two-bathroom units, and one three-bedroom/two-bathroom townhouse-style unit. The oversized units offer gas stoves, refrigerators, ceiling fans, forced heat or wall units for heating, upgraded flooring, ample closet and storage space, and a balcony or patio in select units. The two extensively upgraded units are equipped with stackable laundry systems, brand-new kitchens with new shaker cabinetry, quartz countertops, stainless-steel appliances (gas stove, refrigerator, microwave, and dishwasher), ceiling fans, brand-new bathrooms, designer fixtures and hardware, dual pane windows, upgraded flooring, new lighting, and updated electrical panels.

Financial Summary (Actual - 2023)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $300,417 $38.70
Other Income $819 $0.11
Vacancy Loss $9,037 $1.16
Effective Gross Income $292,200 $37.64
Taxes $48,847 $6.29
Operating Expenses $50,090 $6.45
Total Expenses $98,937 $12.74
Net Operating Income $193,263 $24.90

Financial Summary (Actual - 2023)

Gross Rental Income (CAD)
Annual $300,417
Annual Per SF $38.70
Other Income (CAD)
Annual $819
Annual Per SF $0.11
Vacancy Loss (CAD)
Annual $9,037
Annual Per SF $1.16
Effective Gross Income (CAD)
Annual $292,200
Annual Per SF $37.64
Taxes (CAD)
Annual $48,847
Annual Per SF $6.29
Operating Expenses (CAD)
Annual $50,090
Annual Per SF $6.45
Total Expenses (CAD)
Annual $98,937
Annual Per SF $12.74
Net Operating Income (CAD)
Annual $193,263
Annual Per SF $24.90

Property Facts

Price $3,981,600 CAD
Price Per Unit $663,600 CAD
Sale Type Investment
Cap Rate 4.85%
Gross Rent Multiplier 13.25
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.17 AC
Building Size 7,763 SF
Average Occupancy 100%
No. Stories 2
Year Built 1963
Parking Ratio 0.77/1,000 SF

Unit Amenities

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Stainless Steel Appliances
  • Range
  • Double Pane Windows
  • Patio

Site Amenities

  • Controlled Access
  • Laundry Facilities
  • Gated

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1.5 2 $2,764 CAD 1,080
3+2 4 $4,336 CAD 1,400
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Biker's Paradise (93)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
4283-021-004
Land Assessment
$140,179 CAD (2024)
Improvements Assessment
$483,098 CAD (2024)
Total Assessment
$623,276 CAD (2024)
Annual Taxes
$48,847 CAD ($6.29 CAD/SF)
Tax Year
2023

zoning

Zoning Code SMR2* (to be verified by Buyer)
SMR2* (to be verified by Buyer)
  • Listing ID: 33277063

  • Date on Market: 2024-09-23

  • Last Updated:

  • Address: 1813 9th St, Santa Monica, CA 90404

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}