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2122 20th St
Santa Monica, CA 90405
Multifamily Property For Sale
·
6 Units
Executive Summary
Exceptional six-unit investment opportunity in a prime Santa Monica location, just moments from Santa Monica College. This well-positioned multifamily property features six spacious 1-bedroom, 1-bathroom units, offering strong rental appeal in one of the Westside's most desirable and supply-constrained rental markets.With two vacant units, investors benefit from immediate upside potential through lease-up at market rents or the flexibility for an owner-user strategy. The property currently generates $179,604 in gross annual income, reflecting a 13.64 GRM and a 5% cap rate making it a compelling addition to any multifamily portfolio.Value-add opportunity: The rear storage area and existing garages present excellent potential for ADU conversion (buyer to verify), creating a meaningful opportunity to increase unit count and substantially enhance long-term cash flow and asset value.Tenants enjoy close proximity to world-class beaches, premier shopping and dining, and convenient access to major employment hubs throughout the Westside and Greater Los Angeles area. This is a rare opportunity to acquire a stable coastal asset with built-in upside in one of Southern California's most sought-after communities.
Property Facts
| Price Per Unit | $559,845 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.03% | Lot Size | 0.18 AC |
| Gross Rent Multiplier | 13.64 | Building Size | 3,008 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Zoning | SMR2* | ||
| Price Per Unit | $559,845 CAD |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Gross Rent Multiplier | 13.64 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,008 SF |
| No. Stories | 1 |
| Year Built | 1929 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | SMR2* |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,875 CAD | 464 |
Property Taxes
| Parcel Number | 4273-002-004 | Improvements Assessment | $989,629 CAD |
| Land Assessment | $2,309,140 CAD | Total Assessment | $3,298,770 CAD |
Property Taxes
Parcel Number
4273-002-004
Land Assessment
$2,309,140 CAD
Improvements Assessment
$989,629 CAD
Total Assessment
$3,298,770 CAD
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