1118 11th St, Santa Monica, CA 90403

1118 11th St, Santa Monica, CA 90403

Santa Monica, CA
$4,700,000

Property Description

1118 11th St is an 11-unit building located north of Wilshire Boulevard, in one of the premier residential neighborhoods in the Country. The building was built in 1940 and consists of 6,948 SF of living space situated on a large 7,497 SF lot. The property offers a great unit mix consisting of (1) 3-Bed/1-Bath, (1) 2-Bed/1-Bath, (8) 1-Bed/1-Bath, and (1) Studio. The property also features an on-site laundry facility, (5) 1-car garages, and (3) carports. Located exactly 7 blocks from the 3rd Street Promenade with over 50% in upside rent potential, this is an incredible opportunity for any investor seeking growth, stability, and a hedge against inflation.

Property Features

  • Sale Price: $4,700,000
  • Area Size: 6,948 SF
  • Land Area: 7,497 SF
  • Year Built: 1940
  • Listing Date: 1/20/2021
  • Units: 11
  • Current GRM: 19.73
  • Current Cap Rate: 3.04%
  • Price Per Unit: $427,273
  • Market GRM: 13.01
  • Market Cap Rate: 5.57%
  • Current NOI: $142,676

Lyon Stahl Investment Real Estate

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