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Prime Santa Monica: All 2 and 3 Bedroom Units 443 Bay St
6 Unit Apartment Building $2,875,000 USD ($479,167 USD/Unit) 4.91% Cap Rate Santa Monica, CA 90405
Investment Highlights
- 6 large units ideally located in a premier Santa Monica location
- Several luxuriously upgraded units
- Significant rental upside
- Incredible unit mix of large 2 and 3-bedroom floor plans
- New roof and all copper plumbing
- In close proximity to the beach and high-end dining and nightlife on Main Street
Executive Summary
Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredible multifamily asset located at 443 Bay Street in the heart of LA’s famed beach city of Santa Monica. Originally built in 1971, the building boasts an ideal unit mix consisting of very large 2 & 3-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light.
Perfect for a long-term investor, the property has incredible rental upside, a secured intercom entrance, ample on-site parking, all copper plumbing, a brand new roof, as well as an on-site laundry facility. The unit mix includes (1) 3-bed, 2-bath unit, (2) 2-bed, 1½-bath units, and (3) 2-bed, 1-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC (select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units) and central HVAC (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor’s portfolio.
A quick stroll to the beach and Main Street, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 443 Bay Street gives buyers the unique opportunity to own a generational asset in one of LA’s most prized and coveted locations.
Perfect for a long-term investor, the property has incredible rental upside, a secured intercom entrance, ample on-site parking, all copper plumbing, a brand new roof, as well as an on-site laundry facility. The unit mix includes (1) 3-bed, 2-bath unit, (2) 2-bed, 1½-bath units, and (3) 2-bed, 1-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC (select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units) and central HVAC (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor’s portfolio.
A quick stroll to the beach and Main Street, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 443 Bay Street gives buyers the unique opportunity to own a generational asset in one of LA’s most prized and coveted locations.
Financial Summary (Pro forma - 2024) |
Annual (USD) | Annual Per SF (USD) |
---|---|---|
Gross Rental Income | $213,060 | $38.51 |
Other Income | $1,200 | $0.22 |
Vacancy Loss | $6,392 | $1.16 |
Effective Gross Income | $207,868 | $37.58 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $65,540 | $11.85 |
Net Operating Income | $142,328 | $25.73 |
Financial Summary (Pro forma - 2024)
Gross Rental Income (USD) | |
---|---|
Annual | $213,060 |
Annual Per SF | $38.51 |
Other Income (USD) | |
---|---|
Annual | $1,200 |
Annual Per SF | $0.22 |
Vacancy Loss (USD) | |
---|---|
Annual | $6,392 |
Annual Per SF | $1.16 |
Effective Gross Income (USD) | |
---|---|
Annual | $207,868 |
Annual Per SF | $37.58 |
Taxes (USD) | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses (USD) | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses (USD) | |
---|---|
Annual | $65,540 |
Annual Per SF | $11.85 |
Net Operating Income (USD) | |
---|---|
Annual | $142,328 |
Annual Per SF | $25.73 |
Property Facts
Price | $2,875,000 USD | Apartment Style | Low Rise |
Price Per Unit | $479,167 USD | Building Class | C |
Sale Type | Investment | Lot Size | 0.13 AC |
Cap Rate | 4.91% | Building Size | 5,532 SF |
Gross Rent Multiplier | 13.49 | Average Occupancy | 100% |
No. Units | 6 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1971 |
Property Subtype | Apartment | Parking Ratio | 1.81/1,000 SF |
Price | $2,875,000 USD |
Price Per Unit | $479,167 USD |
Sale Type | Investment |
Cap Rate | 4.91% |
Gross Rent Multiplier | 13.49 |
No. Units | 6 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.13 AC |
Building Size | 5,532 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built | 1971 |
Parking Ratio | 1.81/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Hardwood Floors
- Window Coverings
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Gated
- Smoke Free
- Walk-Up
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+1 | 3 | $2,480 USD | - |
2+1.5 | 2 | $1,923 USD | - |
3+2 | 1 | $5,450 USD | - |
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Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (76)
Bike Score ®
Very Bikeable (82)
PROPERTY TAXES
Parcel Number | 4289-011-027 | Improvements Assessment | $374,368 USD |
Land Assessment | $249,569 USD | Total Assessment | $623,937 USD |
PROPERTY TAXES
Parcel Number
4289-011-027
Land Assessment
$249,569 USD
Improvements Assessment
$374,368 USD
Total Assessment
$623,937 USD
zoning
Zoning Code | SMR3* |
SMR3* |
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Prime Santa Monica: All 2 and 3 Bedroom Units | 443 Bay St
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