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1050 12th St 10 Unit Apartment Building $5,272,120 CAD ($527,212 CAD/Unit) 4.39% Cap Rate Santa Monica, CA 90403
INVESTMENT HIGHLIGHTS
- 2024 new roof & gutters
- 2025 new electrical panels
EXECUTIVE SUMMARY
Invest in one of Santa Monica's most sought-after corridors. Located in the heart of Wilshire-Montana on a charming tree-lined stretch of 12th Street, this 10-unit apartment building offers a desirable mix of 1-bedroom, and 2-bedroom units. New Roof, new gutters and new sub-panels in 2024 and 2025. Tenants enjoy immediate access to the vibrant offerings on Montana Avenue just a few blocks away, where boutique shopping, cozy cafes, and some of the Westside's best dining create a true neighborhood experience. Easy access to Palisades Park and the beach. This is an ideal opportunity for investors seeking long-term value in a trophy coastal location with consistent tenant demand, well-maintained interiors, and the potential for rent upside. One unit delivered vacant.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$346,911
|
$49.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$346,911
|
$49.08
|
| Taxes |
$46,574
|
$6.59
|
| Operating Expenses |
$87,587
|
$12.39
|
| Total Expenses |
$134,160
|
$18.98
|
| Net Operating Income |
$212,751
|
$30.10
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $346,911 |
| Annual Per SF | $49.08 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $346,911 |
| Annual Per SF | $49.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $46,574 |
| Annual Per SF | $6.59 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $87,587 |
| Annual Per SF | $12.39 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $134,160 |
| Annual Per SF | $18.98 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $212,751 |
| Annual Per SF | $30.10 |
PROPERTY FACTS
| Price | $5,272,120 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $527,212 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4.39% | Building Size | 7,068 SF |
| Gross Rent Multiplier | 16.41 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 0.3/1,000 SF |
| Zoning | R3, Santa Monica - Multiple Residential | ||
| Price | $5,272,120 CAD |
| Price Per Unit | $527,212 CAD |
| Sale Type | Investment |
| Cap Rate | 4.39% |
| Gross Rent Multiplier | 16.41 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,068 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 0.3/1,000 SF |
| Zoning | R3, Santa Monica - Multiple Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $18,525 CAD | 700 |
| 2+1 | 3 | $10,385 CAD | 700 |
1 1
Walk Score®
Very Walkable (76)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 4281-021-010 | Total Assessment | $3,865,680 CAD (2025) |
| Land Assessment | $2,749,985 CAD (2025) | Annual Taxes | $46,574 CAD ($6.59 CAD/SF) |
| Improvements Assessment | $1,115,696 CAD (2025) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
4281-021-010
Land Assessment
$2,749,985 CAD (2025)
Improvements Assessment
$1,115,696 CAD (2025)
Total Assessment
$3,865,680 CAD (2025)
Annual Taxes
$46,574 CAD ($6.59 CAD/SF)
Tax Year
2024 Payable 2024
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