833 5th St
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833 5th St
24 Unit Apartment Building $15,904,267 CAD ($662,678 CAD/Unit) 3.11% Cap Rate Santa Monica, CA 90403
INVESTMENT HIGHLIGHTS
- Premiere Santa Monica Location on 5th Street Just Off Of Montana Avenue, Five Blocks to the Beach and walking distance to Montana Ave
- More than 30 Parking Spaces
- 24 Units with Large Open Floor Plans, New Solar, All Copper Plumbing, Swimming Pool
EXECUTIVE SUMMARY
This prime Santa Monica property, located on 5th Street just off of Montana Avenue, is a 24-unit apartment complex. The property features a desirable unit mix, including 2 singles, 10 one-bedroom/one-bath units, 11 two-bedroom/two-bath units and a spacious three-bedroom/three-bath unit. Residents will enjoy spacious open floor plans, ample parking with over 30 spaces and convenient amenities like laundry rooms on each floor, a refreshing pool, all copper plumbing and new solar panels. The property's elevator provides easy access to all three floors. Walk and bike everywhere. This prime location, just five blocks from the beach, is walking distance to Montana Avenue with easy access to a variety of restaurants, shops and entertainment options. Additionally, the property is situated within the highly sought-after Santa Monica School District and is conveniently located near neighboring West Los Angeles communities, including Brentwood, Pacific Palisades, Venice Beach and Marina del Rey. This well-established property has been built, owned and operated by the same family for decades. Roof and elevator are older. PLEASE DO NOT DISTURB TENANTS.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$870,712
|
$41.67
|
| Other Income |
$11,929
|
$0.57
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$882,641
|
$42.24
|
| Taxes |
$190,851
|
$9.13
|
| Operating Expenses |
$197,671
|
$9.46
|
| Total Expenses |
$388,523
|
$18.59
|
| Net Operating Income |
$494,119
|
$23.65
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $870,712 |
| Annual Per SF | $41.67 |
| Other Income (CAD) | |
|---|---|
| Annual | $11,929 |
| Annual Per SF | $0.57 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $882,641 |
| Annual Per SF | $42.24 |
| Taxes (CAD) | |
|---|---|
| Annual | $190,851 |
| Annual Per SF | $9.13 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $197,671 |
| Annual Per SF | $9.46 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $388,523 |
| Annual Per SF | $18.59 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $494,119 |
| Annual Per SF | $23.65 |
PROPERTY FACTS Under Contract
| Price | $15,904,267 CAD | Apartment Style | Low Rise |
| Price Per Unit | $662,678 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 3.11% | Building Size | 20,896 SF |
| Gross Rent Multiplier | 18.02 | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.34/1,000 SF |
| Price | $15,904,267 CAD |
| Price Per Unit | $662,678 CAD |
| Sale Type | Investment |
| Cap Rate | 3.11% |
| Gross Rent Multiplier | 18.02 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 20,896 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1.34/1,000 SF |
UNIT AMENITIES
- Kitchen
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
Walk Score®
Very Walkable (84)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 4292-009-027 | Total Assessment | $1,628,782 CAD (2024) |
| Land Assessment | $518,852 CAD (2024) | Annual Taxes | $190,851 CAD ($9.13 CAD/SF) |
| Improvements Assessment | $1,109,930 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
4292-009-027
Land Assessment
$518,852 CAD (2024)
Improvements Assessment
$1,109,930 CAD (2024)
Total Assessment
$1,628,782 CAD (2024)
Annual Taxes
$190,851 CAD ($9.13 CAD/SF)
Tax Year
2023
ZONING
| Zoning Code | SMR3YY |
| SMR3YY |
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