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1811 Ocean Park Blvd 7 Unit Apartment Building $2,697,610 CAD ($385,373 CAD/Unit) 4.64% Cap Rate Santa Monica, CA 90405
INVESTMENT HIGHLIGHTS
- Prime location in the Sunset Park neighborhood of Santa Monica
- Lowest Price/Unit of all multifamily properties currently for sale in Santa Monica
- Detached garage ideal for potential ADU
- True value-add opportunity with 20% upside in rents
- Outdoor space available to tenants
- Surrounded by trendy coffee shops and restaurants
EXECUTIVE SUMMARY
Kidder Mathews is pleased to present 1811 Ocean Park Boulevard, a 7-unit multifamily investment in the neighborhood of Sunset Park. Offered to the market for the first time in several decades, this prominently located multifamily property originally constructed in 1949 features Studio and Two-Bedroom apartments with abundant outdoor space and on-site parking.
As an investment, the Property offers investors an incredible value-add opportunity. With approximately 20% upside in rents, an investor can implement a strategic interior and exterior renovation with the goal of increasing rents and taking advantage of the strength of the Santa Monica market. In addition, the property features a detached garage which provides excellent potential to create an Accessory Dwelling Unit (ADU) at the property. The property also features coin-operated laundry on-site.
Located just west of the Santa Monica airport, this fantastic location has abundant coffee shops, restaurants, and shops, as well as easy access to parks, beaches, Downtown Santa Monica, Venice, Abbot Kinney, Mar Vista, and much more.
As an investment, the Property offers investors an incredible value-add opportunity. With approximately 20% upside in rents, an investor can implement a strategic interior and exterior renovation with the goal of increasing rents and taking advantage of the strength of the Santa Monica market. In addition, the property features a detached garage which provides excellent potential to create an Accessory Dwelling Unit (ADU) at the property. The property also features coin-operated laundry on-site.
Located just west of the Santa Monica airport, this fantastic location has abundant coffee shops, restaurants, and shops, as well as easy access to parks, beaches, Downtown Santa Monica, Venice, Abbot Kinney, Mar Vista, and much more.
FINANCIAL SUMMARY (PRO FORMA - 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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 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 | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $2,697,610 CAD | Property Subtype | Apartment |
| Price Per Unit | $385,373 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.64% | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 12.48 | Building Size | 3,454 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1949 |
| Zoning | SMR3 | ||
| Price | $2,697,610 CAD |
| Price Per Unit | $385,373 CAD |
| Sale Type | Investment |
| Cap Rate | 4.64% |
| Gross Rent Multiplier | 12.48 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,454 SF |
| No. Stories | 2 |
| Year Built | 1949 |
| Zoning | SMR3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Handrails
SITE AMENITIES
- 24 Hour Access
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (75)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 4273-020-021 | Improvements Assessment | $585,256 CAD |
| Land Assessment | $1,365,606 CAD | Total Assessment | $1,950,862 CAD |
PROPERTY TAXES
Parcel Number
4273-020-021
Land Assessment
$1,365,606 CAD
Improvements Assessment
$585,256 CAD
Total Assessment
$1,950,862 CAD
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1811 Ocean Park Blvd
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