1111 18th St, Santa Monica, CA 90403

1111 18th St, Santa Monica, CA 90403

Santa Monica, CA

Property Description

Nico Rosmarin of Lyon | Stahl Investment Real Estate is pleased to present 1111 18th St, an outstanding development or value-add multifamily investment opportunity in the heart of Santa Monica. The property is located north of Wilshire Boulevard, on a quiet, tree-lined street. The location is ideally situated within walking distance to numerous high-end retail shops and restaurants.

1111 18th Street is a 3,977 SF 4-unit building on an 8,009 SF lot. The building is comprised of two (2) three-bedroom/two-bathroom units and two (2) one-bedroom/one-bathroom units. Currently, three of the four units are vacant which opens an immediate opportunity to update the units and rent them at market rates. The lot is zoned SMR2 allowing the potential to build four (4) new units/condos by-right, to maximize the potential of the lot.

1111 18th Street presents an exciting opportunity to redevelop a new multifamily building in a prime neighborhood of Northern Santa Monica.

<strong>Property Highlights:</strong>
<li>Three of the four units currently VACANT</li>
<li>Situated on a 8,009 SF oversized lot</li>
<li>Zoned SMR2 – Opportunity to build 4-5 new condos</li>
<li>Unit mix (2) 3bd + 2 bth; (2) 1bd + 1 bth</li>
<li>5 onsite garage spaces</li>
<li>Prime Santa Monica location north of Wilshire</li>
<li>Highly motivated seller</li>

Property Features

  • Sale Price: $2,445,000
  • Area Size: 3,977 SF
  • Land Area: 8,009 SF
  • Year Built: 1937
  • Closing Date: 6/28/19
  • Units: 4
  • Market GRM: 15.07
  • Market Cap Rate: 5.91%

Lyon Stahl Investment Real Estate

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