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2517 20th Street

Santa Monica, CA 90405

$2,280,000 $9,612/Mo

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Overview

Bed

Bath

3,219

Sqft

6,766

Sqft(Lot)

Description

This exceptionally charming 5-unit multi-family property presents an incredible investment opportunity in a prime Santa Monica location. Built in 1938 this updated property has immense appeal and offers long-term growth potential. The property has been meticulously maintained. There are three 1 bedroom/1 bathroom units plus two 2 bedroom/1 bathroom units. Four of the five units have been remodeled; three feature in-unit laundry, the other two units have private laundry inside their garage. There are refinished hardwood floors, three of the five units have split AC units, quartz/granite countertops and tiled showers. In January 2025 a new roof was installed on the rear building, and in late 2024 the front building was recoated. Two of the front units have individual enclosed garages; three units have assigned parking. This property offers both immediate rental income and long-term growth potential. This property has just undergone significant capital improvements including soft story/seismic retrofit work, resulting in a building that is fully stabilized and ready to go. Centrally located near transportation, schools, shopping, parks, and the best Santa Monica has to offer. Operating at a 100% occupancy, the property yields a highly attractive Pro-Forma Cap Rate of 4.69%. The current tenants are professionals and the units are well maintained. This is a fantastic opportunity for investors seeking a steady cash flow in a thriving, rent resilient market. There is an excellent property management company in place. This is rare turnkey acquisition.

Property Details

Property Type : ResidentialIncome

Price : $2,280,000

AD Id : 75494192

MLS Id : 26654207

Beds : 7

Lot Size : 6,766 Sqft

Living Area Size : 3,219

Year Built : 1938

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 7

Bathroom Information

Total Baths: 5

Flooring Information

Wood
Interior Features

Appliances: Refrigerator, Dryer, Washer

Laundry Features: CommonArea
Heating & Cooling

Has Heating: Yes Heating: WallFurnace

Building Information

Year Built: 1938

Building Area Total: 3219

Stories: 1

Private Pool: No

Lot Information

Lot Dimensions: 50x135 Main Square Feet: 6766 Lot Size Acres: 0.1553 Lot Size Square Feet: 6,766

Listing Price Information

Listing Price: $2280000

Original Price: $2485000

Tax Information

Parcel Number: 4273019010

Virtual Tour

Virtual Tour (External Link)

Parking Information

Assigned

Location Information

Direction: South of Pico, North of Ocean Park Blvd.

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
2521 33rd Street, Santa Monica, CA, 90405	$2,495,000	2	1	1,571	1,571 SqFt
2636 33rd Street, Santa Monica, CA, 90405	$2,445,000	2	1	1,035	1,035 SqFt
2312 32nd Street, Santa Monica, CA, 90405	$2,099,000	3	2	1,361	1,361 SqFt
2302 32nd Street, Santa Monica, CA, 90405	$2,075,000	6	--	3,492	3,492 SqFt
2711 Pico Boulevard, Santa Monica, CA, 90405	$5,990,000	18	--	9,926	9,926 SqFt
2222 Pier Avenue, Santa Monica, CA, 90405	$3,125,000	5	3	3,464	3,464 SqFt
2626 Cloverfield, Santa Monica, CA, 90405	$4,950,000	--	--	5,968	5,968 SqFt
2302 Oak Street, Santa Monica, CA, 90405	$3,680,000	--	--	9,109	9,109 SqFt
2648 23rd Street, Santa Monica, CA, 90405	$3,200,000	12	8	6,294	6,294 SqFt
2030 Marine Street, Santa Monica, CA, 90405	$2,999,000	3	1	1,899	1,899 SqFt