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MASSIVE $ Reduction: 33 Units on San Vicente 537 San Vicente Blvd
33 Unit Apartment Building $21,995,000 USD ($666,515 USD/Unit) Santa Monica, CA 90402
Investment Highlights
- MASSIVE PRICE REDUCTION: Premier Santa Monica Location
- Significant Rental Upside
- Approx. $1,443,000 Spent on Apartment Renovations and Approx. $567,000 Spent on Common Area Renovations
- Excellent Unit Mix
- Subterranean Parking
Executive Summary
MASSIVE PRICE REDUCTION!!! Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredibly rare multifamily asset at 537 San Vicente Blvd. in the heart of LA’s famed beach city of Santa Monica. Originally built in 1957, the building boasts an ideal unit mix consisting of all large 1 & 2 bedroom units. All of these units are extremely spacious, have a terrific floor plan, and offer an abundance of natural light.
There is significant rental upside, and on-site parking for 33 cars (and a wraparound driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
There is significant rental upside, and on-site parking for 33 cars (and a wraparound driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
Financial Summary (Pro forma - 2024) |
Annual (USD) | Annual Per SF (USD) |
|---|---|---|
| Gross Rental Income |
$1,212,630
|
$30.01
|
| Other Income |
$8,700
|
$0.22
|
| Vacancy Loss |
$36,379
|
$0.90
|
| Effective Gross Income |
$1,184,951
|
$29.32
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$426,462
|
$10.55
|
| Net Operating Income |
$758,489
|
$18.77
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (USD) | |
|---|---|
| Annual | $1,212,630 |
| Annual Per SF | $30.01 |
| Other Income (USD) | |
|---|---|
| Annual | $8,700 |
| Annual Per SF | $0.22 |
| Vacancy Loss (USD) | |
|---|---|
| Annual | $36,379 |
| Annual Per SF | $0.90 |
| Effective Gross Income (USD) | |
|---|---|
| Annual | $1,184,951 |
| Annual Per SF | $29.32 |
| Taxes (USD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (USD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (USD) | |
|---|---|
| Annual | $426,462 |
| Annual Per SF | $10.55 |
| Net Operating Income (USD) | |
|---|---|
| Annual | $758,489 |
| Annual Per SF | $18.77 |
Property Facts
| Price | $21,995,000 USD | Building Class | C |
| Price Per Unit | $666,515 USD | Lot Size | 0.51 AC |
| Sale Type | Investment | Building Size | 40,412 SF |
| No. Units | 33 | Average Occupancy | 88% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1957 |
| Apartment Style | Low Rise | Parking Ratio | 0.82/1,000 SF |
| Price | $21,995,000 USD |
| Price Per Unit | $666,515 USD |
| Sale Type | Investment |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 40,412 SF |
| Average Occupancy | 88% |
| No. Stories | 3 |
| Year Built | 1957 |
| Parking Ratio | 0.82/1,000 SF |
Unit Amenities
- Balcony
- Heating
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 19 | $2,540 USD | 800 |
| 2+2 | 14 | $3,120 USD | 1,400 |
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Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 4293-001-018 | Improvements Assessment | $6,480,564 USD |
| Land Assessment | $15,906,842 USD | Total Assessment | $22,387,406 USD |
PROPERTY TAXES
Parcel Number
4293-001-018
Land Assessment
$15,906,842 USD
Improvements Assessment
$6,480,564 USD
Total Assessment
$22,387,406 USD
zoning
| Zoning Code | R3, Santa Monica |
| R3, Santa Monica |
-
Jonathan Taksa -
RE/MAX Commercial & Investment Realty
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MASSIVE $ Reduction: 33 Units on San Vicente | 537 San Vicente Blvd
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