Active

927 3rd Street

Santa Monica, CA 90403
Mark as Favorite
Bed 22

Bed

Bath 23

Bath

SqFt15,582

Sqft

SqFt14,999

Sqft(Lot)

927 & 933 3rd Street is a 20-unit multifamily investment offering assembled across two adjacent parcels in Santa Monica's Wilshire Montana district three blocks from the beach and within a short walk of both Montana Avenue and the Third Street Promenade. The two 1956-vintage buildings are held and operated as a single asset, and are offered together.The unit mix is six two-bedroom units, ten one-bedroom units and four studios across 15,582 net rentable square feet on a combined 14,999 square foot lot.Scale of this kind is unusual in the submarket: of the eight most recent apartment sales in the immediate area, only one exceeded 15 units, and none offered a two-parcel assemblage.The defining characteristic of the offering is the spread between in-place and market rents. Current scheduled i ncome is $464,067 against a projected market of $651,048 a 40.3% gap that translates into 64.3% net operating income growth as units turn. At the list price the asset trades at a 4.68% cap rate on in-place income and 7.69% on stabilized market income, with the difference representing the value a buyer underwrites and pays for.

Read More Expand
Tour with a ByOwner Agent

Detail Ic Property Details

Property Type : ResidentialIncome

Price : $6,025,000

AD Id : 91552776

MLS Id : 26992555

Beds : 22

Lot Size : 14,999 Sq. Ft

Living Area Size : 15,582 Sq. Ft

Year Built : 1956

County : Los Angeles

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Bedroom Information

    Total beds: 22

    Bathroom Information

    Total Baths: 23
  • Interior Features

    Appliances: Microwave, Refrigerator
  • Heating & Cooling

    Has Heating: Yes Heating: WallFurnace Cooling: None

  • Building Information

    Year Built: 1956
    Building Area Total: 15582
    Stories: 2
    Private Pool: No

  • Lot Information

    Main Square Feet: 14999 Lot Size Acres: 0.3443 Lot Size Source: Assessor Lot Size Square Feet: 14,999

  • Listing Price Information

    Listing Price: $6025000

  • Tax Information

    Parcel Number: 4292018016

  • Parking Information

    Parking Total: 20 Garage, Tandem

    Garage Information

    Has Garage: Yes Has Attached Garage: Yes

  • Location Information

    Direction: South of Montana & North of Wilshire Blvd.
Sell a home like this and save $361,001 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Images
Loading, please wait...

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1620 California, Santa Monica, CA, 90403 $1,699,000 2 2 -- 4,986 Sq. Ft
852 11th St, Santa Monica, CA, 90403 $3,999,999 7 6 3,550 7,500 Sq. Ft

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/30/2026 @ 19:41

MLS: 26992555 LISTED BY: David Miller, Miller & Desatnik Realty Co. 310-202-9166 SOURCE: CRMLS

Homes around $6,025,000

Selling? Save $361,001 when you sell a home like this

Tour with a ByOwner Agent