1860 9th Street

Santa Monica, CA 90404

$5,999,000
Price
28
Beds
22
Baths
11,456 Sq. Ft.
$524 / Sq. Ft.
11,456
Sq. Ft.
$524
per Sq. Ft.

Description

We are pleased to present a fifteen (15) unit apartment building located at 1860 9th Street in Santa Monica, California. The subject property is located in a prime Santa Monica location just north of Lincoln Boulevard and west of Pico Boulevard. Built in 1955, this property contains an excellent unit mix of one (1) studio / one-bathroom unit and fourteen (14) two-bedroom / one and a half-bathroom units. The property consists of a double-lot with one being zoned commercial. All units face the well-maintained...We are pleased to present a fifteen (15) unit apartment building located at 1860 9th Street in Santa Monica, California. The subject property is located in a prime Santa Monica location just north of Lincoln Boulevard and west of Pico Boulevard. Built in 1955, this property contains an excellent unit mix of one (1) studio / one-bathroom unit and fourteen (14) two-bedroom / one and a half-bathroom units. The property consists of a double-lot with one being zoned commercial. All units face the well-maintained inner courtyard. The units boast a ton of character with lovely tile and wood flooring, tile counters, French doors, antique light fixtures, and other built-in decorative elements. There is shared laundry on-site with newer Maytag high efficiency appliances. This rare, mid-size asset goes street-to-street with eight (8) garage parking spaces off of Lincoln Court, three (3) covered carports with storage spaces above, and seven (7) uncovered interior parking spaces. Most of the storage can be rented for additional income, and there is a private storage room attached to the southern garage. There is great potential to convert the garage spaces into multiple ADU units. Tenants will love living only one (1) mile to Santa Monica Pier, with easy access to major transportation and some of the strongest employment hubs available throughout Los Angeles County. Situated in a prime Santa Monica location, this offering presents an excellent opportunity for any investor to capitalize on the strong initial cash flow coupled with the opportunity to build out multiple ADU(s) with a very favorable loan assumption.
  1. Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1860 9th Street

Zoning
SMR2-C4*
Parcel Number
4283020040
Total Units
15.0
Living Area
11456
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
13%
Lot Size Area
14486

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495
Add your commute
LISTING UPDATED: 03/28/2024 12:01 AM

Property Details for 1860 9th Street

StatusActive
MLS #24-371213
Days on Market41
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.33 AC / 14,486 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495
Add your commute

Building Information for 1860 9th Street

Stories2Residences-Year Built1955Building Size-Lot Size0.33 AC / 14,486 SF

Payment Calculator

$37,106 per month

30 year fixed, 7.25% Interest

Principal and Interest

$32,739

Property Taxes

$4,367

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1860 9th Street

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 15
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Market
  • View: Yes
  • View Description: City
  • View: City Lights
  • Security Features: Gated
  • Property Condition: Repairs Major, Repair Cosmetic, Updated/Remodeled
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Submit
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $405,504
  • Net Operating Income: $280,370.00
  • Gross Income: $417,894
  • Cap Rate: 4.67%
  • Gross Rent Multiplier: $14.52
  • Financial Info as Of: 03/20/2024
  • Vacancy Allow Dollar: $12,390.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 125134
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.3326
  • Lot Size Square Feet: 14486
  • Lot Features: Lawn, Yard
  • Lot Description: 2-4 Lots, Lawn, Yard, Alley Paved
  • Lot Location: City, Beach Access
Parking Details
Parking Details
  • Parking Garage: Carport, Built-In Storage, Uncovered, Garage, Covered Parking, Gated
  • Total Parking: 18
  • Open Other Spaces Total: 7
  • Garage Spaces Total: 8
  • Carport Spaces Total: 3
  • Parking Features: Carport, Built-In Storage, Uncovered, Garage, Covered, Gated
  • Garage Structures Total: 2.0
Interior Features
Interior Features
  • Levels: Two
  • Fireplace Features: Decorative
  • Fireplace Rooms: Decorative
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Wood, Hardwood
  • Equipment: Built-Ins, Range/Oven, Refrigerator, Washer, Dryer
  • Room Kitchen Features: Remodeled Kitchen, Tile Counters
  • Kitchen Features: Remodeled, Tile Counters
  • Bathroom Features: Shower Over Tub
  • Common Walls: Attached
  • Cooking Appliances: Built-Ins, Oven, Range
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis Court: None
  • Patio Features: Balcony, Patio Open
  • New Construction: No
  • Other Structural Features: Balcony
  • Other Structures: Accessory Bldgs, Other, Stall(s)
Lease Terms
Lease Terms
  • Entry Date: 03-20-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,132.00
  • Unit Actual Rent: $1,132.00
  • Unit Projected Rent: $1,700.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,378.00
  • Unit Actual Rent: $2,378.00
  • Unit Projected Rent: $3,050.00
  • Like Units: 14
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,339,786.00
  • Assessed Improvement Percent: 31.25
  • Assessed Land Value: $2,947,533.00
  • Assessed Land Percent: 68.75
  • Assessed Total Value: $4,287,319.00

Property History for 1860 9th 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 1860 9th Street

Taxable ValueLand$2,947,533Additions$1,342,586Total$4,290,119
Tax Record2023$52,407 ($4,367 / month)
Home Facts
Total Finished SqFt11,456 SqFtAbove Grade Finished SqFt11,456 SqFtLot Size14,481 SqFtStyleMulti-Family Res (5+ Units)ZoningSMR2-C4*CountyLOS ANGELESAPN4283-020-040

Schools near 1860 9th 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 - 9 to 12
Rating
School
Distance
John Muir Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Olympic High (Continuation) School
Public9 to 12

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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1860 9th Street is a multi-family home for sale in Santa Monica, CA 90404. This property was listed for sale on March 20, 2024 by Marcus & Millichap, it's currently listed at $5,999,000. It has been on the market for a total of 41 days and was last sold on May 18, 2005. 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. 1860 9th Street is a 28-bed, 22-bath, 11,456 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 Marcus & Millichap, Jason Tuvia, DRE #01772495

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.