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2727 3rd Street

Santa Monica, CA 90405
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Bed 24

Bed

Bath 24

Bath

SqFt17,020

Sqft

SqFt15,496

Sqft(Lot)

We are proud to present 2727 3rd Street, a rare 22-unit multifamily offering situated in the heart of Santa Monica's sought-after Ocean Park neighborhood, just blocks from the celebrated dining and boutique retail of Main Street and less than half a mile from the sand and surf of Santa Monica State Beach. The property was built in 1969 and has been held by the original owners since. The two-story, courtyard-style building encompasses approximately 17,020 square feet of rentable space across 20 spacious one-bedroom/one-bathroom units and two generously sized two-bedroom/one-and-a-half-bathroom residences. Unit sizes are notably large for the submarket, with one-bedroom floor plans at 750 square feet and two-bedroom homes reaching 1,010 square feet offering tenants meaningful living space a t a time when newer coastal product skews smaller. Select upper-floor units feature private balconies with ocean and neighborhood views, while ground-floor residences enjoy enclosed patios premium amenities that continue to command leasing velocity and resident loyalty in this supply-constrained corridor. The property is completed by 22 covered, gated parking spaces, where dedicated parking is highly valued. Organic income growth without the need for capital displacement or tenant buyouts. This embedded rent upside represents one of the most attractive features of the offering, with the potential to dramatically accelerate net operating income over a typical hold period. Equally compelling from a long-term ownership perspective: the property's 22 units. substantially exceed the approximately 12 units permitted under current SMOP2 zoning. This legal non-conforming density is grandfathered from the original 1969 construction and cannot be replicated under any current entitlement pathway making the existing improvements structurally more valuable than the land alone and creating a permanent competitive moat for the asset.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $7,650,000

AD Id : 89519219

MLS Id : 26871967

Beds : 24

Lot Size : 15,496 Sqft

Living Area Size : 17,020

Year Built : 1969

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 24

    Bathroom Information

    Total Baths: 24

  • Building Information

    Year Built: 1969
    Building Area Total: 17020
    Stories: 2
    Private Pool: No

  • Lot Information

    Main Square Feet: 15496 Lot Size Acres: 0.3557 Lot Size Square Feet: 15,496

  • Listing Price Information

    Listing Price: $7650000

  • Tax Information

    Parcel Number: 4287022019

  • Location Information

    Direction: Neilson Wy & Hill St
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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

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ByOwner last updated this listing 08/16/2026 @ 12:06

MLS: 26871967 LISTED BY: Filip Niculete, Marcus & Millichap 818-212-2700 SOURCE: CRMLS

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