1518 10th Street

Santa Monica, CA 90401

$4,175,000
Price
17
Beds
18
Baths
10,080 Sq. Ft.
$414 / Sq. Ft.
10,080
Sq. Ft.
$414
per Sq. Ft.

Description

1518 10th Street is an 11 unit apartment building with 10,080 square feet in a great Santa Monica beach location. Asking price per unit at $379,545 and per square foot at $414 is below the average sales comps which have sold at $465,440 per unit and $569 per square foot. This is a real opportunity to add value with lots of square footage, a great unit mix and ample parking. Add even more value to this 11 Unit building with the currently existing vacant non-conforming unit as an ADU. This is an underutilized...1518 10th Street is an 11 unit apartment building with 10,080 square feet in a great Santa Monica beach location. Asking price per unit at $379,545 and per square foot at $414 is below the average sales comps which have sold at $465,440 per unit and $569 per square foot. This is a real opportunity to add value with lots of square footage, a great unit mix and ample parking. Add even more value to this 11 Unit building with the currently existing vacant non-conforming unit as an ADU. This is an underutilized asset which has been in the same ownership for decades. Soft Story Retrofitting is completed. All Electric building other than gas for Laundry.10 private balconies and lots of storage. Some units have electric fireplaces. Building is clean and the stairways have been resurfaced. Prime Santa Monica beach location in one of the most high demand and desirable rental areas in California and the United States. Santa Monica is known for our beautiful beaches, shops, restaurants and evolving employment hubs. Home to the Santa Monica Pier, vibrant art community of Bergamont Station with numerous galleries and nightlife. The property is in the world-renowned Silicon beach headquarters of many high profile entertainment and technology corporate firms. Located in the desirable Santa Monica Unified School District and close to Santa Monica College. Centrally situated between Santa Monica's happening office parks. Close proximity to the new Metro Station and within a short train ride to many destinations. Santa Monica continues to be a growing vibrant diverse economy. Close to neighboring communities of Prime West Los Angeles, Brentwood, Westwood, Pacific Palisades, Marina Del Rey, Venice Beach, Playa Del Rey and Playa Vista. Please do not disturb tenants.
  1. Listed by Francyne Lambert • DRE #00827267 • Brokerage DRE #00860625 • Lambert Investments, Inc.

Property Details for 1518 10th Street

Zoning
SMR3*
Parcel Number
4282029003
Total Units
11.0
Living Area
10080
Source Living Area
Title Company
Area
Santa Monica (C14)
Vacancy Rate
1
Lot Size Area
7490

Location

Listing Courtesy of Lambert Investments, Inc., Francyne Lambert, DRE #00827267
Add your commute
LISTING UPDATED: 04/05/2024 02:54 PM

Property Details for 1518 10th Street

StatusActive
MLS #23-329815
Days on Market166
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1974
Lot Size0.17 AC / 7,490 SF
CountyLos Angeles County

Location

Listing Courtesy of Lambert Investments, Inc., Francyne Lambert, DRE #00827267
Add your commute

Building Information for 1518 10th Street

Stories2Residences-Year Built1974Building Size-Lot Size0.17 AC / 7,490 SF

Payment Calculator

$23,991 per month

30 year fixed, 7.25% Interest

Principal and Interest

$22,785

Property Taxes

$1,206

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1518 10th Street

Community / Development
Community / Development
  • Number Of Units: 11
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Other
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: FLAT
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $276,168
  • Net Operating Income: $185,878.00
  • Gross Income: $276,168
  • Cap Rate: 4.50%
  • Gross Rent Multiplier: $15.12
  • Financial Info as Of: 01/15/2024
  • Total Annual Expense: 90290
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1719
  • Lot Size Square Feet: 7490
  • Lot Size Dimensions: 50x150
  • Source Lot Size Dimensions: Other
Parking Details
Parking Details
  • Parking Garage: Subterranean, Tandem
  • Total Parking: 17
  • Parking Features: Subterranean, Tandem Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-07-2023
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,223.00
  • Unit Actual Rent: $3,233.00
  • Unit Projected Rent: $4,400.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,209.00
  • Unit Actual Rent: $7,257.00
  • Unit Projected Rent: $11,399.00
  • Like Units: 5
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,562.00
  • Unit Actual Rent: $5,898.00
  • Unit Projected Rent: $9,724.00
  • Like Units: 4
Unit 4 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,895.00
  • Unit Actual Rent: $1,895.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $583,202.00
  • Assessed Improvement Percent: 55.88
  • Assessed Land Value: $460,419.00
  • Assessed Land Percent: 44.12
  • Assessed Total Value: $1,043,621.00

Property History for 1518 10th 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 1518 10th Street

Taxable ValueLand$469,627Additions$594,866Total$1,064,493
Tax Record2023$14,470 ($1,206 / month)
Home Facts
Total Finished SqFt10,080 SqFtAbove Grade Finished SqFt10,080 SqFtLot Size7,490 SqFtStyleMulti-Family Res (5+ Units)Year Built1974ZoningSMR3*CountyLOS ANGELESAPN4282-029-003

Schools near 1518 10th 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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1518 10th Street is a multi-family home for sale in Santa Monica, CA 90401. This property was listed for sale on November 7, 2023 by Lambert Investments, Inc., it's currently listed at $4,175,000. 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. 1518 10th Street is a 17-bed, 18-bath, 10,080 sqft multi-family home built in 1974.

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 Lambert Investments, Inc., Francyne Lambert, DRE #00827267

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.