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1129 Lincoln Blvd 9 Unit Apartment Building $5,169,216 CAD ($574,357 CAD/Unit) 4.75% Cap Rate Santa Monica, CA 90403
Investment Highlights
- Prime Location North of Wilshire Boulevard across from Reed Park. Just Blocks from 3rd Street Promenade and Santa Monica Beach
- Easy to manage two story walk up with 1950's Charm! All units face a center courtyard, with laundry Room Onsite.
- 100% Occupied with Significant Upside in Rents as Units Turnover.
- Great unit mix of 3 two bedroom units, 5 one bedroom units and 2 Studio Apartments. Parking for 10 vehicles.
Executive Summary
The subject property (Lincoln Park Apartments) is a Classic 1950's two story walkup apartment building with 10 units. There are 3 two bedroom units, 5 one bedroom units, and 2 Studio apartments. The property features a gated central courtyard for access to the common area and entry for all of the units. There is a laundry room on site and 7 parking garages, in addition to the front parking area for 3 more vehicles. The units are subject to City of Santa Monica Rent Control and all units are below market with upside in rental income as units turnover. The property is in one of the most desirable areas of Santa Monica, just north of Wilshire Boulevard across from beautiful Reed Park which encompasses a full city block and has picnic tables, benches, basketball courts, public and private tennis courts. This quiet apartment complex is a short walk or bike ride to, 3rd Street Promenade with it's many shops and restaurants, the park along Ocean Avenue, Santa Monica State Beach, and The Santa Monica Pier. Properties in this area rarely become available, and are in high demand.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,169,216 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $574,357 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.75% | Building Size | 7,377 SF |
| Gross Rent Multiplier | 13.79 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.36/1,000 SF |
| Zoning | SMR3AY - Santa Monica R2 - Multi-Residential | ||
| Price | $5,169,216 CAD |
| Price Per Unit | $574,357 CAD |
| Sale Type | Investment |
| Cap Rate | 4.75% |
| Gross Rent Multiplier | 13.79 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,377 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.36/1,000 SF |
| Zoning | SMR3AY - Santa Monica R2 - Multi-Residential |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,123 CAD | - |
| 2+1.5 | 1 | $3,863 CAD | - |
| 2+1 | 1 | $4,074 CAD | - |
| 1+1 | 1 | $3,333 CAD | - |
| 1+1 | 1 | $3,333 CAD | - |
| 1+1 | 1 | $3,197 CAD | - |
| 1+1 | 1 | $1,428 CAD | - |
| Studios | 1 | $2,514 CAD | - |
| Studios | 1 | $2,714 CAD | - |
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Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (75)
Bike Score®
Biker's Paradise (92)
Property Taxes
| Parcel Number | 4281-035-016 | Total Assessment | $1,049,983 CAD |
| Land Assessment | $504,717 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $545,267 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
4281-035-016
Land Assessment
$504,717 CAD
Improvements Assessment
$545,267 CAD
Total Assessment
$1,049,983 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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1129 Lincoln Blvd
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