918 7th Street,Santa Monica, CA 90403
Santa Monica, CA 90403
Description
We are proud to present a prime 12-unit multifamily investment opportunity at 918 7th Street, ideally located in one of Santa Monica's most desirable neighborhoods, north of Wilshire Blvd. and just one block south of Montana Ave. The property features an excellent unit mix, significant capital improvements, and rental upside, with convenient walking distance to Montana Avenue's shops, restaurants, and cafes, as well as Palisades Park. Built in 1959, the building consists of (8) one-bedroom and (4) two-bedroom units and has benefited from a completed seismic retrofit, newer windows, and several renovated units. Interior features include recessed lighting, wood flooring, and dishwashers, complemented by private balconies and patios. The rear upstairs unit also offers an outdoor rooftop deck, and each unit has room to accommodate an in-unit washer and dryer. Parking includes four tandem spaces in front and additional covered parking off the rear alley. The neighboring property added two ADUs in its front parking area while retaining parking, suggesting the potential to pursue a similar configuration here. This potential, combined with rental upside and the opportunity to add in-unit laundry, offers several avenues for additional income and long-term value. An assumable loan is available at 5.97% with interest-only payments for three years. Contact the listing agents for additional information regarding the loan assumption.
Details
| MLS # | 26106596 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1959 |
| Days On Site | 8 |
| Listing Provided By | Miller & Desatnik Realty Co. | Dominick Faraone |
Features
| Bed(s) | 16 |
|---|---|
| Bath(s) | 14 |
| SQ Feet | 9,420 |
| Story(s) | 2 |
| Units | 12 |
| Building(s) | 1 |
| Zoning | SMR2* |
| Acreage | 0.17 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Appliances | Refrigerator |
Parking
| Parking Features | Garage, Tandem |
|---|---|
| Garage Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90403 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90403) | |
Price: $4,495,000 low | high Med: $1,390,000 sqft: 9,420 low | high Med: 1,392 $ / sqft: $477 low | high Med: $999 On site: 8 low | high Med: 22 | |
Market Activity 90403
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90403 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90403) | |
Price: $4,495,000 low | high Med: $1,390,000 sqft: 9,420 low | high Med: 1,392 $ / sqft: $477 low | high Med: $999 On site: 8 low | high Med: 22 | |
 | $4,800,000823 5th StreetSanta Monica, CA 90403 |
 | $4,125,000854 9th StreetSanta Monica, CA 90403 |
 | $4,075,000848 5th StreetSanta Monica, CA 90403 |
 | $5,199,0001017 5thSanta Monica, CA 90403 |