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1047 9th St 3 Unit Apartment Building $3,860,454 CAD ($1,286,818 CAD/Unit) 4.17% Cap Rate Santa Monica, CA 90403
Investment Highlights
- This Property Offers Significant Tax Savings Through Mills Act Status
- Each Bungalow Features Private Outdoor Space And In-Unit Laundry
- Modern Amenities And Classic Character Create Strong Tenant Appeal
- Each Bungalow Features Private Outdoor Space And In-Unit Laundry
- Modern Amenities And Classic Character Create Strong Tenant Appeal
- Each Unit Includes Two Parking Spaces With EV-Charging Capability
Executive Summary
Live in the heart of Santa Monica's coveted Wilshire Montana neighborhood while generating income from your own property. 1047 9th Street offers a rare owner-user opportunity to occupy one of three beautifully updated bungalows, each with private outdoor space, in-unit laundry, and dedicated parking with EV charging. Enjoy a walkable, Santa Monica lifestyle just steps from the iconic Montana Avenue's premier shopping, dining, and fitness, and a short stroll to the beach, an ideal blend of comfort, charm, and everyday convenience in one of Santa Monica's most desirable neighborhoods. Beyond the lifestyle appeal, this Mills Act-designated property provides significant property tax savings, enhancing cash flow and long-term financial performance. The three-unit compound is well-positioned for strong rental demand and low vacancy, with additional upside through the potential to add one to two two-bedroom units, projecting up to $120,000 in additional annual income. Combining historic character with modern amenities and future development potential, this is a unique opportunity to own a tax-advantaged, income-producing asset with both immediate returns and long-term growth. Drive by only. Interior access provided with accepted offer. Please do not disturb tenants. Disclaimer: Images have been virtually staged.
Property Facts
| Price | $3,860,454 CAD | Apartment Style | Single-Family Home |
| Price Per Unit | $1,286,818 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.17% | Building Size | 1,900 SF |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 0.8/1,000 SF |
| Zoning | SMR2* - Low density Residential | ||
| Price | $3,860,454 CAD |
| Price Per Unit | $1,286,818 CAD |
| Sale Type | Investment |
| Cap Rate | 4.17% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 1,900 SF |
| No. Stories | 1 |
| Year Built | 1923 |
| Parking Ratio | 0.8/1,000 SF |
| Zoning | SMR2* - Low density Residential |
Amenities
Unit Amenities
- Washer/Dryer
- Refrigerator
- Oven
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 1 | - | - |
Very walkable
80/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4281-029-014 | Improvements Assessment | $240,329 CAD |
| Land Assessment | $1,273,466 CAD | Total Assessment | $1,513,795 CAD |
Property Taxes
Parcel Number
4281-029-014
Land Assessment
$1,273,466 CAD
Improvements Assessment
$240,329 CAD
Total Assessment
$1,513,795 CAD
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1047 9th St
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