902 16th Street

About this listing

Prime Santa Monica location, 1 block south of Montana Ave. 100% Occupied - 4.65% CAP | 15.31 GRM - Actual Meticulously maintained and managed by owner for 35 years
3 buildings on this lot with beautiful landscaping and 3 seperate shared laundry areas for tenants
Renovated and updated throughout the years including roof, plumbing and electrical
Historically low vacancy building with fast turnovers Great unit mix!

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.