1940 6th Street

Santa Monica, CA 90405

$1,850,000
Price
4
Beds
4
Baths
2,000 Sq. Ft.
$925 / Sq. Ft.
2,000
Sq. Ft.
$925
per Sq. Ft.

Description

Incredible Value-Add Opportunity - Will be Delivered With TWO VACANT Units, Giving Flexibility to a Buyer to Either Move in or Renovate to Achieve Top-Tier Rents. The Building is Situated on a 5,866 Square Foot Corner Lot and Features 8 Parking Spaces, In-Unit Washer and Dryers, and Patio Space. Priced at $462,500 Per Unit and a ProForma GRM of 14.38. Ideal For an Owner-Occupant Seeking to Offset Their Mortgage with Rental Income or an Investor Looking to Utilize Residential Financing with 75% LTV.Incredible Value-Add Opportunity - Will be Delivered With TWO VACANT Units, Giving Flexibility to a Buyer to Either Move in or Renovate to Achieve Top-Tier Rents. The Building is Situated on a 5,866 Square Foot Corner Lot and Features 8 Parking Spaces, In-Unit Washer and Dryers, and Patio Space. Priced at $462,500 Per Unit and a ProForma GRM of 14.38. Ideal For an Owner-Occupant Seeking to Offset Their Mortgage with Rental Income or an Investor Looking to Utilize Residential Financing with 75% LTV.
  1. Listed by David Messiah • DRE #02117893 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
  2. Listed by Cameron Samimi • DRE #02035763 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 1940 6th Street

Zoning
SMOP2*
Parcel Number
4289004008
Total Units
4.0
Living Area
2000
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
2
Lot Size Area
5866

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., David Messiah, DRE #02117893; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
Add your commute
LISTING UPDATED: 05/24/2024 12:02 AM

Property Details for 1940 6th Street

StatusActive
MLS #24-392937
Days on Market17
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.13 AC / 5,866 SF
CountyLos Angeles County

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., David Messiah, DRE #02117893; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
Add your commute

Building Information for 1940 6th Street

Stories-Residences-Year Built1955Building Size-Lot Size0.13 AC / 5,866 SF

Payment Calculator

$10,522 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,096

Property Taxes

$426

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1940 6th Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: 1+1
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $109,920
  • Net Operating Income: $74,357.00
  • Gross Income: $109,920
  • Gross Rent Multiplier: $16.83
  • Total Annual Expense: 32265
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1347
  • Lot Size Square Feet: 5866
Parking Details
Parking Details
  • Parking Garage: Driveway - Pavers
  • Total Parking: 0
  • Parking Features: Paved
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating Type: Other
  • Equipment: Dryer, Washer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-16-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,900.00
  • Unit Actual Rent: $1,900.00
  • Unit Projected Rent: $2,680.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,900.00
  • Unit Actual Rent: $1,900.00
  • Unit Projected Rent: $2,680.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,680.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,680.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,680.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,680.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $124,783.00
  • Assessed Improvement Percent: 35.65
  • Assessed Land Value: $225,262.00
  • Assessed Land Percent: 64.35
  • Assessed Total Value: $350,045.00

Property History for 1940 6th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1940 6th Street

Taxable ValueLand$225,262Additions$124,783Total$350,045
Tax Record2023$5,110 ($426 / month)
Home Facts
Total Finished SqFt2,000 SqFtAbove Grade Finished SqFt2,000 SqFtLot Size5,866 SqFtStyleQuadraplexYear Built1955ZoningSMOP2*CountyLOS ANGELESAPN4289-004-008

Schools near 1940 6th Street

This home is within Santa Monica-Malibu Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 8
Rating
School
Distance
John Muir Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Santa Monica Alternative (K-8) School
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1940 6th Street is a multi-family home for sale in Santa Monica, CA 90405. This property was listed for sale on May 16, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $1,850,000. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include John Muir Elementary School, John Adams Middle School and Santa Monica High School. 1940 6th Street is a 4-bed, 4-bath, 2,000 sqft multi-family home built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., David Messiah, DRE #02117893; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.