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$ 11,800,000
Est. payment /mo
Active
1117 6th Street Santa Monica, CA 90403
29,535 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 29,535 sqft
Price per Sqft $399
MLS Listing ID CL25583817
HOA Y/N No
Year Built 1971
Lot Size 0.345 Acres
Acres 0.34
Property Sub-Type Other
Property Description
1117 6th Street presents a rare opportunity to acquire a well-located, 27-unit multifamily asset in the heart of Santa Monica, just six blocks from the beach and three blocks to the world-renowned 3rd Street Promenade. Built in 1971 and offered for sale for the first time in over 40 years, the property spans approximately 29,535 square feet on a 14,800 square foot lot and offers an ideal unit mix for the local tenant base: nine (9) 1-bedroom/1-bath units, ten(9) 1-bedroom/1.5-bath units with dens, six (7) 2-bedroom/2-bath units, and two (2) 2-bedroom/2-bath units with dens. Many units feature spacious floorplans, ample closet space, and extra storage. The building has undergone recent capital improvements, including a new roof installed just two years ago and completed balcony inspections and repairs, reducing near-term capital needs. Residents enjoy 40 gated garage parking spaces, controlled-access entry, onsite laundry facilities, and an elevator, all of which enhance tenant convenience and retention. The property is attractively priced at under $400 per square foot, offering investors significant value relative to comparable assets in this supply-constrained coastal market. With stable in-place income and meaningful upside through interior renovations and tenant turnover, 1117
Location
State CA
County Los Angeles
Zoning SMR2
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 4292005028
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Listed by Michael Sterman • Marcus & Millichap