Jonathan Taksa 4246728220

HUGE PRICE REDUCTION - NOW PRICED TO SELL 537 San Vicente Blvd 33 Unit Apartment Building $18,950,000 ($574,242/Unit) Santa Monica, CA 90402

INVESTMENT HIGHLIGHTS

HUGE PRICE REDUCTION - NOW PRICED TO SELL
Significant Rental Upside
Approx. $1,443,000 Spent on Apartment Renovations and Approx. $567,000 Spent on Common Area Renovations

Premier Santa Monica Location: 33 units with an excellent unit mix
Subterranean Parking

EXECUTIVE SUMMARY

HUGE PRICE REDUCTION - NOW PRICED TO SELL. 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.

FINANCIAL SUMMARY (PRO FORMA - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$1,203,204	$29.77
Other Income	$8,700	$0.22
Vacancy Loss	$36,096	$0.89
Effective Gross Income	$1,175,808	$29.10
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$390,858	$9.67
Net Operating Income	$784,950	$19.42

FINANCIAL SUMMARY (PRO FORMA - 2024)

Gross Rental Income
Annual	$1,203,204
Annual Per SF	$29.77

Other Income
Annual	$8,700
Annual Per SF	$0.22

Vacancy Loss
Annual	$36,096
Annual Per SF	$0.89

Effective Gross Income
Annual	$1,175,808
Annual Per SF	$29.10

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$390,858
Annual Per SF	$9.67

Net Operating Income
Annual	$784,950
Annual Per SF	$19.42

PROPERTY FACTS

Price	$18,950,000	Building Class	C
Price Per Unit	$574,242	Lot Size	0.51 AC
Sale Type	Investment	Building Size	40,412 SF
Gross Rent Multiplier	15.64	Average Occupancy	91%
No. Units	33	No. Stories	3
Property Type	Multifamily	Year Built	1957
Property Subtype	Apartment	Parking Ratio	0.82/1,000 SF
Apartment Style	Low-Rise
Zoning	R3, Santa Monica - Multiple Residential

Price	$18,950,000
Price Per Unit	$574,242
Sale Type	Investment
Gross Rent Multiplier	15.64
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	91%
No. Stories	3
Year Built	1957
Parking Ratio	0.82/1,000 SF
Zoning	R3, Santa Monica - Multiple Residential