Santa Monica, CA 90403 902 16th St
$3,700,000
15 more
Presented By: Eric Sackler with Coldwell Banker Realty
Home Details
100% occupied 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes:* Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units.* Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave.* Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.
Presented By: Eric Sackler with Coldwell Banker Realty
Interior Features for 902 16th St
Bedrooms
Total Bedrooms7
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths7
Other Interior Features
LivingAreaSourceAssessor
Heating Y/NYes
Laundry FeaturesCommon Area, Inside, Laundry Room
Total Stories2
General for 902 16th St
Cap Rate4.65
CitySanta Monica
CountyLos Angeles
Days on Market1
DirectionsLocated on the corner of 16th Street and Idaho Avenue.
DisclosuresSeller Disclosure
Gross Income241632
HOA / Comm AssnNo
HeatingWall Furnace
LevelsTwo
Lot Size Square Feet7503
Lot Size UnitsSquare Feet
MLS AreaC14 - Santa Monica
Net Operating Income172234
New ConstructionNo
NumberOfUnitsTotal7
Occupancy TypeTenant
Pool FeaturesNone
Property TypeResidential Income
Senior Community Y/NNo
Spa FeaturesNone
Standard StatusActive
StatusActive
Stories2
Tenant PaysElectricity, Gas
Year Built1926
Year Built SourceAssessor
ZoningSMR2*
Exterior for 902 16th St
Building Area Total5560
Lot Size Acres0.1722
Lot Size Area7503
Lot Size SourceAssessor
Number of Buildings3
SpaNo
Total Parking5
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480