1042 6th St 16 Unit Apartment Building $6,065,083 CAD ($379,068 CAD/Unit) 5.32% Cap Rate Santa Monica, CA 90403

The property at 1042 6th Street in Santa Monica, CA 90403, is a well-positioned 16-unit multifamily building constructed in 1963, offering a balanced unit mix of eight one-bedroom/ one-bathroom apartments and eight studios.
Spanning approximately 9,900 square feet on a generous 0.26-acre lot, this two-story community has been meticulously maintained through decades of dedicated ownership, with consistent capital expenditures focused on optimizing operations, enhancing building performance, and boosting tenant appeal. Key improvements include the completion of a Soft Story Seismic retrofit in 2020 and the installation of a new roof in 2021. The building’s quaint charm, combined with practical amenities
such as on-site laundry and assigned parking, positions it as a stable income producer in one of Southern California’s most coveted coastal markets, with strong rental demand driven by its prime location and enduring upkeep.
Nestled in the desirable Wilshire-Montana neighborhood of Santa Monica, the property at 1042 6th Street benefits from exceptional proximity to the Pacific Ocean, just five blocks from the iconic Santa Monica Beach and Pier, offering residents easy access to miles of pristine coastline, recreational paths, and vibrant waterfront activities. Steps away from the highly desirable Montana Avenue, known for its upscale boutiques, gourmet restaurants, and tree-lined charm, the location embodies the quintessential Santa Monica lifestyle with a blend of luxury and convenience. Additionally, the property is only about three miles from the affluent Brentwood neighborhood, providing
seamless connectivity to high-end shopping, cultural attractions, and professional hubs via excellent transit options, including a 73/100 transit score and 92/100 bike score. Surrounded by top-rated schools, Third Street Promenade’s entertainment district, and everyday amenities, this address delivers unparalleled walkability (72/100 score) in a quiet, healthy community setting, making it an ideal spot for tenants seeking the best of coastal living.