1137 11th St
Prime Santa Monica Location (90403): Situated North of Wilshire Drive in one of the most desirable coastal rental markets, in close proximity to Montana Avenue, top-tier retail, dining, and the beach.
11-Unit Value-Add Asset: Well-sized multifamily property featuring a diverse unit mix of 1, 2, and 3-bedroom units across a single 3-story building.
In-Place Vacancy & Renovation Opportunity: Multiple vacant/renovation units allow a new owner to immediately execute a repositioning strategy.
On-Site Parking (13 Spaces): Desirable amenity in a supply-constrained market.
Strong Submarket Fundamentals: High barrier-to-entry coastal market with historically strong occupancy and rent growth
Onsite Laundry
Exceptionally Walkable: 90/100 Walk Score on Walkscore.com
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $4,500,000 |
| No. of Units: | 11 |
| Cap Rate: | 3.82% |
| GRM /GIM: | 11.88 |
| Building Size: | 13,913 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $409,091 |
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