Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

7

Building size

5,100 sqft

Lot size

8,023 sqft

Year built

1927

Stories

2

Heating

None

Cooling

None

Status

Active

Days on market

72

MLS #

245540675

About this property

Presenting a rare value-add development in the heart of Santa Monica! Delivered RTI, this property is fully approved for a thoughtfully designed 7-unit apartment complex. The existing site currently offers a charming courtyard arrangement of four bungalow-style residences one one-bedroom and three two-bedrooms surrounding a sun-filled garden. The approved plans reimagine the property with a tasteful renovation of the existing units into Class A Spanish-style bungalows, while adding three new residences: a duplex thoughtfully placed in the center courtyard and a studio ADU above the garage. The result is a boutique collection of seven residences blending historic charm with modern functionality. With stamped permits in hand and no delay in starting construction, this is a true plug-and-play opportunity to create one of the few new multifamily offerings in one of the strongest and most supply-constrained rental markets in Los Angeles. A turnkey investment opportunity in a premier coastal locationthis is not to be missed!

Location

914 18th Street

Santa Monica, Los Angeles, CA, 90403