1019 6th Street

Santa Monica, CA 90403

$4,450,000
Price
13
Beds
13
Baths
7,764 Sq. Ft.
$573 / Sq. Ft.
7,764
Sq. Ft.
$573
per Sq. Ft.

Description

Incredible 5.11 cap rate with upside north of wilshire! We are pleased to offer for sale an incredible multifamily asset located at 1019 6th Street in the heart of LA's famed beach city of Santa Monica. Originally built in 1956, the building boasts an ideal unit mix consisting of all large 1 & 2-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light. Perfect for a long-term investor, the property has incredible rental upside, a secured...Incredible 5.11 cap rate with upside north of wilshire! We are pleased to offer for sale an incredible multifamily asset located at 1019 6th Street in the heart of LA's famed beach city of Santa Monica. Originally built in 1956, the building boasts an ideal unit mix consisting of all large 1 & 2-bedroom floor plans. Each of these units is spacious, has a terrific layout, and offers an abundance of natural light. Perfect for a long-term investor, the property has incredible rental upside, a secured intercom entrance, ample on-site parking (soft story retrofit has been completed), all copper plumbing, a newer roof, as well as an on-site laundry facility. The unit mix includes (7) 1-bed, 1-bath units and (2) 2-bed, 2-bath units. Many of the units have been luxuriously upgraded to the highest standards with hardwood flooring, custom window shutters, stainless steel appliances and quartz countertops, central HVAC (select units), recessed lighting, upgraded electrical, and an in-unit washer and dryer (select units). This is a fantastic trophy asset in an undeniably attractive location that will be a perfect addition to an investor's portfolio. A quick stroll to downtown Santa Monica, Montana Avenue, and the beach, this property is situated close to all Santa Monica has to offer. With incredible in-place income, enormous rental upside potential, and a secured tenant base, 1019 6th Street gives buyers the unique opportunity to own a generational asset in one of LA's most prized and coveted locations in Los Angeles.
  1. Listed by Jonathan Taksa • DRE #01366169 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 1019 6th Street

Zoning
SMR2*
Cross Streets
California Avenue and Washington Avenue
Parcel Number
4292006018
Total Units
10.0
Living Area
7764
Source Living Area
Assessor
Area
Santa Monica (C14)
Vacancy Rate
9424

Location

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169
Add your commute
LISTING UPDATED: 04/17/2024 08:18 AM

Property Details for 1019 6th Street

StatusActive
MLS #23-333461
Days on Market148
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
Lot Size0.17 AC / 7,496 SF
CountyLos Angeles County

Location

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169
Add your commute

Building Information for 1019 6th Street

Stories2Residences-Year Built1956Building Size-Lot Size0.17 AC / 7,496 SF

Payment Calculator

$26,698 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,285

Property Taxes

$2,413

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1019 6th Street

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 1s,2s
  • Security Features: Gated, Exterior Security Lights
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $316,536
  • Net Operating Income: $227,184.00
  • Gross Income: $314,136
  • Cap Rate: 5.11%
  • Gross Rent Multiplier: $14.06
  • Total Annual Expense: 79928
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.1721
  • Lot Size Square Feet: 7496
Parking Details
Parking Details
  • Parking Garage: Assigned, Attached, Carport Attached, Covered Parking
  • Total Parking: 11
  • Parking Features: Assigned, Attached Carport, Covered
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Central Air
  • Cooling Type: Central, Window Unit(s)
  • Heating: Central, Wall Furnace
  • Heating Type: Central, Wall
  • Equipment: Built-Ins, Dishwasher, Garbage Disposal, Microwave, Range/Oven, Refrigerator
  • Laundry: In Unit, Laundry Area, Community
Exterior Features
Exterior Features
  • Windows: Double Pane Windows
  • New Construction: No
  • Other Structural Features: Full Copper Plumbing
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-20-2023
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,505.00
  • Unit Actual Rent: $10,515.00
  • Unit Projected Rent: $13,485.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,238.00
  • Unit Actual Rent: $15,663.00
  • Unit Projected Rent: $22,365.00
  • Like Units: 7
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $661,238.00
  • Assessed Improvement Percent: 28.36
  • Assessed Land Value: $1,670,514.00
  • Assessed Land Percent: 71.64
  • Assessed Total Value: $2,331,752.00

Property History for 1019 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 1019 6th Street

Taxable ValueLand$1,670,514Additions$661,558Total$2,332,072
Tax Record2023$28,952 ($2,413 / month)
Home Facts
Total Finished SqFt7,764 SqFtAbove Grade Finished SqFt7,764 SqFtLot Size7,494 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningSMR2*CountyLOS ANGELESAPN4292-006-018

Schools near 1019 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
Roosevelt Elementary School
PublicK to 5

Lincoln 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.

Similar Homes

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1019 6th Street is a multi-family home for sale in Santa Monica, CA 90403. This property was listed for sale on November 20, 2023 by Remax Commercial and Investment Realty, it's currently listed at $4,450,000. It has been on the market for a total of 148 days and was last sold on October 2, 2002. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include Roosevelt Elementary School, Lincoln Middle School and Santa Monica High School. 1019 6th Street is a 13-bed, 13-bath, 7,764 sqft multi-family home built in 1956.

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 Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

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.