Log In/Sign Up
Your email has been sent.
2711-2715 Pico Blvd 16 Unit Apartment Building $8,080,091 CAD ($505,006 CAD/Unit) 4.12% Cap Rate Santa Monica, CA 90405
Investment Highlights
- DELIVERED WITH 10 VACANT UNITS
- 9,926 square feet of building on a 20,897-square-foot lot
- Located next door to Starbucks and close to shopping, dining, and cultural landmarks in Santa Monica
- 16 units total: 14 one-bedrooms, 2 two-bedrooms
- Zoned MUBL (Mixed-Use Boulevard) FAR 2.0 and 45’ height under base standards. Potential for FAR 2.5 and 55’ height with 100% affordable housing proje
- Prime Santa Monica Location
Executive Summary
A Santa Monica Developer’s Dream! DELIVERED WITH 10 VACANT UNITS!
We are proud to present 2711-2715 Pico Blvd, a rare 16-unit apartment property in the heart of Santa Monica, offering incredible potential for investors and developers alike.
Set on a sprawling 20,897-square-foot lot, this property features two side-by-side buildings comprising 14 one-bedroom units and 2 two-bedroom units, all with charming hardwood floors. Parking is conveniently located at the rear of the property, adding to its tenant appeal. Plus, it’s situated directly next door to a Starbucks, ensuring unparalleled convenience and walkability.
This property presents a remarkable value-add opportunity through renovation or redevelopment. Zoned MUBL (Mixed-Use Boulevard), the site allows for FAR 2.0 and 45’ height under base standards. Potential for FAR 2.5 and 55’ height with 100% affordable housing projects (buyer to verify with the City of Santa Monica).
Prime Location:
Positioned in a highly desirable area, the property is just moments from Santa Monica’s top destinations:
• Santa Monica Beach and Pier
• Third Street Promenade
• Santa Monica Place shopping center
• Bergamot Station Art Gallery & Cultural Center
• UCLA Medical Center
• Colorado Center Urban Creative Office & Santa Monica Water Garden
And with a Starbucks right next door, tenants will enjoy ultimate convenience in their daily lives.
This is a once-in-a-lifetime opportunity to acquire a property with enormous potential in one of Southern California’s most desirable markets. Whether you’re planning to renovate the existing apartments or develop a mixed-use project, 2711-2715 Pico Blvd offers the location, size, and zoning to bring your vision to life.
We are proud to present 2711-2715 Pico Blvd, a rare 16-unit apartment property in the heart of Santa Monica, offering incredible potential for investors and developers alike.
Set on a sprawling 20,897-square-foot lot, this property features two side-by-side buildings comprising 14 one-bedroom units and 2 two-bedroom units, all with charming hardwood floors. Parking is conveniently located at the rear of the property, adding to its tenant appeal. Plus, it’s situated directly next door to a Starbucks, ensuring unparalleled convenience and walkability.
This property presents a remarkable value-add opportunity through renovation or redevelopment. Zoned MUBL (Mixed-Use Boulevard), the site allows for FAR 2.0 and 45’ height under base standards. Potential for FAR 2.5 and 55’ height with 100% affordable housing projects (buyer to verify with the City of Santa Monica).
Prime Location:
Positioned in a highly desirable area, the property is just moments from Santa Monica’s top destinations:
• Santa Monica Beach and Pier
• Third Street Promenade
• Santa Monica Place shopping center
• Bergamot Station Art Gallery & Cultural Center
• UCLA Medical Center
• Colorado Center Urban Creative Office & Santa Monica Water Garden
And with a Starbucks right next door, tenants will enjoy ultimate convenience in their daily lives.
This is a once-in-a-lifetime opportunity to acquire a property with enormous potential in one of Southern California’s most desirable markets. Whether you’re planning to renovate the existing apartments or develop a mixed-use project, 2711-2715 Pico Blvd offers the location, size, and zoning to bring your vision to life.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$501,511
|
$50.52
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$15,046
|
$1.52
|
| Effective Gross Income |
$486,465
|
$49.01
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$153,419
|
$15.46
|
| Net Operating Income |
$333,045
|
$33.55
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $501,511 |
| Annual Per SF | $50.52 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $15,046 |
| Annual Per SF | $1.52 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $486,465 |
| Annual Per SF | $49.01 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $153,419 |
| Annual Per SF | $15.46 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $333,045 |
| Annual Per SF | $33.55 |
Property Facts
| Price | $8,080,091 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $505,006 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 4.12% | Building Size | 9,926 SF |
| Gross Rent Multiplier | 17.62 | No. Stories | 1 |
| No. Units | 16 | Year Built | 1951 |
| Property Type | Multifamily | Parking Ratio | 1.21/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | MUBL - Zoned MUBL (Mixed-Use Boulevard) FAR 2.0 & 45’ height under base standards. Potential for FAR 2.5 & 55’ height with 100% affordable housing projects | ||
| Price | $8,080,091 CAD |
| Price Per Unit | $505,006 CAD |
| Sale Type | Investment |
| Cap Rate | 4.12% |
| Gross Rent Multiplier | 17.62 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 9,926 SF |
| No. Stories | 1 |
| Year Built | 1951 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | MUBL - Zoned MUBL (Mixed-Use Boulevard) FAR 2.0 & 45’ height under base standards. Potential for FAR 2.5 & 55’ height with 100% affordable housing projects |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
| 2+1 | 2 | - | - |
1 1
Walk Score®
Very Walkable (84)
Bike Score®
Biker's Paradise (94)
Property Taxes
| Parcel Number | 4274-008-038 | Improvements Assessment | $1,027,379 CAD (2025) |
| Land Assessment | $1,500,844 CAD (2025) | Total Assessment | $2,528,223 CAD (2025) |
Property Taxes
Parcel Number
4274-008-038
Land Assessment
$1,500,844 CAD (2025)
Improvements Assessment
$1,027,379 CAD (2025)
Total Assessment
$2,528,223 CAD (2025)
1 of 5
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
2711-2715 Pico Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.