Only $378/ft & $355k/door blocks to the Beach | 2319 6th St
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Only $378/ft & $355k/door blocks to the Beach 2319 6th St
10 Unit Apartment Building $5,032,018 CAD ($503,202 CAD/Unit) Santa Monica, CA 90405
Investment Highlights
- Premier Ocean Park of Santa Monica Location (Walk to Main Street and the beach)
- Massive rental upside
- Excellent value add opportunity
- Great unit mix of 80% 2-bed, 2-bath floor plans
- Ample parking: Soft story retrofit has been completed
Executive Summary
Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredible multi-family asset at 2319 6th Street in the heart of LA’s famed beach City of Santa Monica. Originally built in 1965, the building boasts an ideal unit mix consisting of all large 1 & 2-bedroom units. Each of these units is spacious, has a terrific floor plan, and offers an abundance of natural light.
There is massive rental upside and on-site parking for 15 cars (soft story retrofit work has been completed) as well as an on-site laundry facility. The unit mix includes (8) 2-bed, 2-bath and (2) 1-bed, 1 bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
A quick walk to popular Main Street and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
There is massive rental upside and on-site parking for 15 cars (soft story retrofit work has been completed) as well as an on-site laundry facility. The unit mix includes (8) 2-bed, 2-bath and (2) 1-bed, 1 bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
A quick walk to popular Main Street and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$311,123
|
$33.10
|
| Other Income |
$4,992
|
$0.53
|
| Vacancy Loss |
$9,334
|
$0.99
|
| Effective Gross Income |
$306,782
|
$32.64
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$115,731
|
$12.31
|
| Net Operating Income |
$191,051
|
$20.33
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $311,123 |
| Annual Per SF | $33.10 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,992 |
| Annual Per SF | $0.53 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,334 |
| Annual Per SF | $0.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $306,782 |
| Annual Per SF | $32.64 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $115,731 |
| Annual Per SF | $12.31 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $191,051 |
| Annual Per SF | $20.33 |
Property Facts
| Price | $5,032,018 CAD | Building Class | C |
| Price Per Unit | $503,202 CAD | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 9,399 SF |
| Gross Rent Multiplier | 15.92 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Apartment Style | Low Rise |
| Price | $5,032,018 CAD |
| Price Per Unit | $503,202 CAD |
| Sale Type | Investment |
| Gross Rent Multiplier | 15.92 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 9,399 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.6/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,707 CAD | 675 |
| 2+2 | 8 | $2,888 CAD | 1,000 |
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Walk Score ®
Walker's Paradise (90)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 4289-006-012 | Improvements Assessment | $1,581,212 CAD |
| Land Assessment | $4,585,520 CAD | Total Assessment | $6,166,731 CAD |
PROPERTY TAXES
Parcel Number
4289-006-012
Land Assessment
$4,585,520 CAD
Improvements Assessment
$1,581,212 CAD
Total Assessment
$6,166,731 CAD
zoning
| Zoning Code | SMOP2* |
| SMOP2* |
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Only $378/ft & $355k/door blocks to the Beach | 2319 6th St
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