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$5,199,000
 $27,909 est/mo Sourced by Back At You

1017 5th,Santa Monica, CA 90403

Santa Monica, CA 90403

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Description

An exceptional opportunity to acquire a meticulously remodeled 11-unit apartment building in one of Santa Monica's most coveted North of Wilshire locations. 1017 5th Street offers the rare combination of a true trophy-quality location, high-end renovated units and investment returns that are exceedingly difficult to find in prime Santa Monica. Offered at $5,199,000, the property generates a compelling 5.75% current cap rate and 12.39 GRM, providing investors with unusually strong in-place cash flow for an asset of this quality and location. The investment becomes even more compelling on pro forma rents, reaching approximately a 7.13% cap rate and 12.39 GRM, with roughly 19% remaining rental upside. The property has undergone extensive upgrades and features beautifully remodeled, high-end units designed to attract Santa Monica's premium renter base. This is not a heavy value-add project requiring years of construction, tenant turnover and capital expenditures. The work has largely been done, creating an exceptionally easy-to-own and easy-to-manage asset with strong income from day one.

Details

MLS #SB26194031
Listing TypeFor Sale
StyleCondominium
Sub-TypeResale
StatusActive
Year1958
Days On Site71
Listing Provided ByLyon Stahl Investment Real Estate, Inc. | Cameron Samimi

Features

SQ Feet7,494
Car PortYes
Story(s)2
Units11
Building(s)1
Acreage0.17
Golf CourseYes

Interior

AppliancesDryer, Washer

Exterior

Lot FeaturesEleven To Fifteen Units Acre

Parking

Parking FeaturesCovered, Tandem
Garage Yes / NoNo

Utilities

SewerPublic Sewer

Location

Community FeaturesBiking, Curbs, Dog Park, Golf, Suburban, Sidewalks

Area Information

StateCA
CountyLos Angeles
CitySanta Monica
Zip Code90403
AreaC14 Santa Monica
Listing VS Median (in 90403)
Price:
$5,199,000
low | high
Med:
$1,392,500
100% of Average
sqft:
7,494
low | high
Med:
1,308
100% of Average
$ / sqft:
$694
low | high
Med:
$1,069
4.108373158046% of Average
On site:
71
low | high
Med:
161
44.099378881988% of Average
Sourced by Back At You

Market Activity 90403

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Learn More About This Property

Roy Rigsby

Roy Rigsby

Desert Lifestyle Properties

01399810 (760) 409-5117roy@desertrealestate4you.com
StateCA
CountyLos Angeles
CitySanta Monica
Zip Code90403
AreaC14 Santa Monica
Listing VS Median (in 90403)
Price:
$5,199,000
low | high
Med:
$1,392,500
100% of Average
sqft:
7,494
low | high
Med:
1,308
100% of Average
$ / sqft:
$694
low | high
Med:
$1,069
4.108373158046% of Average
On site:
71
low | high
Med:
161
44.099378881988% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $3.899M - $6.498M
sqft: 5,500 - 9,000
Nearby Listings Property ImageNearby Listings Details
848 5th Street Property Photo 1
$4,075,000
848 5th Street
Santa Monica, CA 90403
823 5th Street Property Photo 1
$4,800,000
823 5th Street
Santa Monica, CA 90403
Listing Updated: October 25, 2026 at 10:09:24 AM PDT