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1753 9Th St

Santa Monica, CA 90404
  • $5,100,000
  • STATUS: Active
  • ON SITE: 95 Days
  • ID#: 21-761852
UPDATED: 36 min ago
$5,100,000
  • 18
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,566
    SQFT
  • $777
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1987
County:
Area:

School Ratings & Info

Description

4.55% Cap Rate & 15.5 GRM! Built in 1987 - not subject to Santa Monica Rent Control! Located just one mile to the famous Santa Monica Pier and a 4 -minute drive to Santa Monica Place, 1753 9th St is an extremely rare fully renovated 7-unit complex. This meticulously maintained two-story property features (1) 4 Bed + Den | 3.5 Bath Owners Unit, (1) 2 Bed | 1 Bath Unit, (3) 2 Bed | 2 Bath Units, and (2) 3 Bed | 2 Bath Units, all with new flooring, central A/C, in-unit laundry, and spacious patios/balconies. The kitchens are equipped with stainless steel appliances, new cabinets, Quartz countertops, and modern tiled back-splashes. The property includes ample gated parking for all units (12 spaces), gorgeous landscaping, and secure entry. The complex attracts young professionals wanting to live close to the beach (82 walk score & 86 bike score!), moments to two of the hippest shopping centers in Los Angeles (Santa Monica Place & 3rd St Promenade), and a short drive to big tech and entertainment headquarters. Unit 102 is rent restricted. Additional investment upside available by building an ADU in rear parking lot! Regarded as one of the highest demand rental markets in the country, this prime asset is positioned to be a terrific source of cash-flow and accelerated appreciation.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-24T13:42:40.467. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.trulinerealty.com/homes/119500289
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1753 9Th St Santa Monica, CA 90404

  • Price: $5,100,000
  • Status: Active
  • Updated: 36 min ago
  • ID#: 21-761852
18
Beds
0
Baths
0
½ Baths
0.17
Acres
6,566
SQFT
$777
$/SQFT
1987
Built
Neighborhood:
Santa Monica
County:
Los Angeles
Area:
Santa Monica
Property Description
4.55% Cap Rate & 15.5 GRM! Built in 1987 - not subject to Santa Monica Rent Control! Located just one mile to the famous Santa Monica Pier and a 4 -minute drive to Santa Monica Place, 1753 9th St is an extremely rare fully renovated 7-unit complex. This meticulously maintained two-story property features (1) 4 Bed + Den | 3.5 Bath Owners Unit, (1) 2 Bed | 1 Bath Unit, (3) 2 Bed | 2 Bath Units, and (2) 3 Bed | 2 Bath Units, all with new flooring, central A/C, in-unit laundry, and spacious patios/balconies. The kitchens are equipped with stainless steel appliances, new cabinets, Quartz countertops, and modern tiled back-splashes. The property includes ample gated parking for all units (12 spaces), gorgeous landscaping, and secure entry. The complex attracts young professionals wanting to live close to the beach (82 walk score & 86 bike score!), moments to two of the hippest shopping centers in Los Angeles (Santa Monica Place & 3rd St Promenade), and a short drive to big tech and entertainment headquarters. Unit 102 is rent restricted. Additional investment upside available by building an ADU in rear parking lot! Regarded as one of the highest demand rental markets in the country, this prime asset is positioned to be a terrific source of cash-flow and accelerated appreciation.
Exterior Features

Lot Size Area 7532 Other Structures Other Parking Garage Other Total Parking 12

Interior Features

Baths Total 14.00 Cooling Central Equipment DishwasherDryerFreezerMicrowaveRange/OvenRefrigeratorWasherOther Heating Central Laundry In Unit

Property Features

Assessed Total Value 3296814 Gross Income 328080 Gross Operating Income 328080 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 232116.00 Number Of Buildings 1 Number Of Units 7 Property Condition Updated/Remodeled Sale Type Standard Source Living Area Other Source Lot Size Area Other Total Annual Expense 95964 Type Of Units Apartments Year Built Source Other Zoning Smr2*

Listing provided courtesy of Elijah Korobkin DRE#01897085 of Central Realty Advisors Inc.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-24T13:42:40.467. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Los Angeles CA, 90064