An exceptional opportunity to own a classic Post & Beam 5-unit income property in mostly original, well-maintained condition. Situated on a quiet residential street in one of Santa Monica's most sought-after neighborhoods, this property is ideally suited for both investors and owner-users. Each unit features its own private balcony and… Read More covered parking space with additional storage, while an on-site laundry room adds everyday convenience. Upper units enjoy treetop views, floor-to-ceiling windows, and abundant natural light, enhancing the architectural appeal. Original wood paneling and signature glass elements remain intact, offering a rare opportunity for Post & Beam enthusiasts to own a property with authentic mid-century character. With one unit currently vacant (previously rented at $3,200/month), the property offers immediate upside through lease-up and the potential to enhance long-term returns. Once fully rented, the asset supports a cap rate of approximately 5%, in line with Santa Monica market expectations. Relatively low operating costs, combined with significant recent capital improvements including approximately $181,000 invested in new balconies and stairs (fully inspected and approved), as well as upgraded electrical panels in all units create a compelling blend of stability and future growth. Located near Santa Monica College and just over a mile from Main Street and Santa Monica Beach, the property offers the best of Westside living. Enjoy close proximity to the vibrant dining and retail scenes of Abbot Kinney and Ocean Park's popular Mini Kinney, making this a highly desirable rental location with consistently strong demand. With low vacancy rates, excellent tenant appeal, and clear upside potential, this gem of a property represents a standout long-term investment in a location that is hard to beat! Read Less
Courtesy of Douglas Elliman of California, Inc. 424-203-1800
Listing Snapshot
Days Online
35
Last Updated
Property Type
Other
Beds
9
Square Ft.
4,646
Lot Size
0.15 Acres
Year Built
1963
MLS Number
26774525
30 Days Snapshot Of 90405
$1.86M
-18%
(avg) sold price
21
+250%
homes sold
54
-16%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dryer, Washer
Building
4,646 sq ft, Built in 1963, Levels: Two, Attached, Post & Beam
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