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$3,475,000

Est. payment - /mo

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15 Beds

14 Baths

7,200 SqFt

New

1837 18th ST Santa Monica, CA 90404

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Faby Llerandi

[email protected] +1(951) 520-0260

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,200 sqft

Price per Sqft $482

MLS Listing ID 25580261

Bedrooms 15

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1990

Lot Size 8,006 Sqft

Property Description

We are pleased to present 1837 18th Street, an outstanding multifamily investment opportunity located in the heart of Santa Monica. Built in 1990, this well-maintained property offers spacious units, exceptional parking, and significant rental upside. 1837 18th Street consists of six 2-bedroom/2-bath units and one 3-bedroom/2-bath unit, totaling approximately 7,200 square feet on an 8,002 square foot lot. Four units are not subject to rent control, while the remaining three units have a rent-controlled deed restriction in place until 2045. One unit will be delivered vacant at closing, offering immediate lease-up potential. The current ownership has invested in notable capital improvements, including tenting the property for termites, replacing the roof (15-year warranty included), and upgrading many of the units. The property also boasts 13 subterranean parking spaces and three single-car garages an amenity rarely found in similar assets along with in-unit washer/dryer hookups in every apartment. All utilities including water are individually metered, resulting in low operating costs. Priced at a 5.24% cap rate and 12.82 GRM on current income, the building presents excellent potential to increase income through strategic rent increases and further upgrades. Situated in a prime Santa Monica location near acclaimed restaurants, boutique retail, and major employment centers, 1837 18th Street represents a rare opportunity to acquire a stable,"bread-and-butter" apartment asset with long-term upside in one of Los Angeles' most desirable rental markets.

Location

State CA

County Los Angeles

Area C14 - Santa Monica

Zoning SMR2*

Interior

Heating Central

Cooling Central Air

Flooring Vinyl

Fireplace No

Appliance Dishwasher, Microwave, Refrigerator

Laundry Stacked

Exterior

Parking Features Underground, Garage

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Gated

Total Parking Spaces 16

Private Pool No

Building

Faces West

Story 2

Entry Level Two,Multi/Split

Level or Stories Two, Multi/Split

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 4274012015

Security Features Gated Community

Special Listing Condition Standard

Listed by John Katnik BRC Advisors- BH

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Faby Llerandi

Broker Associate | License ID: 01157215

+1(951) 520-0260

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