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2711-2715 Pico Blvd 16 Unit Apartment Building $8,250,087 CAD ($515,630 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 |
$512,062
|
$51.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$15,363
|
$1.55
|
| Effective Gross Income |
$496,699
|
$50.04
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$156,647
|
$15.78
|
| Net Operating Income |
$340,052
|
$34.26
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $512,062 |
| Annual Per SF | $51.59 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $15,363 |
| Annual Per SF | $1.55 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $496,699 |
| Annual Per SF | $50.04 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $156,647 |
| Annual Per SF | $15.78 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $340,052 |
| Annual Per SF | $34.26 |
PROPERTY FACTS
| Price | $8,250,087 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $515,630 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 | $8,250,087 CAD |
| Price Per Unit | $515,630 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 | $1,050,228 CAD (2025) |
| Land Assessment | $1,534,222 CAD (2025) | Total Assessment | $2,584,450 CAD (2025) |
PROPERTY TAXES
Parcel Number
4274-008-038
Land Assessment
$1,534,222 CAD (2025)
Improvements Assessment
$1,050,228 CAD (2025)
Total Assessment
$2,584,450 CAD (2025)
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2711-2715 Pico Blvd
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