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Raymond Ave Apartments 440 Raymond Ave 20 Unit Apartment Building $10,971,907 CAD ($548,595 CAD/Unit) 5.49% Cap Rate Santa Monica, CA 90405
Investment Highlights
- First time on the market in nearly 30 years
- Copper plumbing, seismic retrofit & extensive system upgrades
- Approximately 5 blocks from the Pacific Ocean
- 15 of 20 units renovated
- Courtyard-style layout with gated parking
- Minutes to Venice, Playa Vista & Downtown Santa Monica
Executive Summary
Realty Investment Advisors is pleased to present 440 Raymond Ave, a 20-unit multifamily investment opportunity located in the highly sought-after Ocean Park neighborhood of Santa Monica.
Held by the same family since 1997, this offering represents a rare opportunity to acquire a Westside asset being offered for sale for the first time in nearly 30 years. Featuring a desirable courtyard-style layout, the property has benefited from significant capital improvements throughout ownership, including a complete copper plumbing repipe, upgraded electrical infrastructure, completed seismic retrofit work, security enhancements, and numerous common area improvements.
Additionally, 15 of the property's 20 units have been renovated with updated kitchens and bathrooms, quartz countertops, upgraded cabinetry, wood flooring, ceramic tile finishes, crown molding, LED lighting, and updated appliances. Ownership has completed extensive renovations while leaving additional upside through continued unit turnover.
Positioned approximately five blocks from the Pacific Ocean, residents enjoy convenient access to Main Street Santa Monica's restaurants, cafés, boutiques, fitness studios, and neighborhood-serving retail. The property is also located near the Santa Monica Farmers Market, Santa Monica Pier, Third Street Promenade, and the beach bike path.
Located in the heart of Silicon Beach, 440 Raymond Ave benefits from proximity to major employment centers throughout Santa Monica, Venice, Playa Vista, Marina del Rey, and Culver City. Convenient access to Lincoln Boulevard, Pacific Coast Highway, and the I-10 Freeway further enhances accessibility throughout the Westside.
440 Raymond Ave offers investors a rare opportunity to acquire a well-located Ocean Park apartment asset being offered for sale for the first time in nearly 30 years, with extensive renovations, a walk-to-beach location, and continued rental upside.
Held by the same family since 1997, this offering represents a rare opportunity to acquire a Westside asset being offered for sale for the first time in nearly 30 years. Featuring a desirable courtyard-style layout, the property has benefited from significant capital improvements throughout ownership, including a complete copper plumbing repipe, upgraded electrical infrastructure, completed seismic retrofit work, security enhancements, and numerous common area improvements.
Additionally, 15 of the property's 20 units have been renovated with updated kitchens and bathrooms, quartz countertops, upgraded cabinetry, wood flooring, ceramic tile finishes, crown molding, LED lighting, and updated appliances. Ownership has completed extensive renovations while leaving additional upside through continued unit turnover.
Positioned approximately five blocks from the Pacific Ocean, residents enjoy convenient access to Main Street Santa Monica's restaurants, cafés, boutiques, fitness studios, and neighborhood-serving retail. The property is also located near the Santa Monica Farmers Market, Santa Monica Pier, Third Street Promenade, and the beach bike path.
Located in the heart of Silicon Beach, 440 Raymond Ave benefits from proximity to major employment centers throughout Santa Monica, Venice, Playa Vista, Marina del Rey, and Culver City. Convenient access to Lincoln Boulevard, Pacific Coast Highway, and the I-10 Freeway further enhances accessibility throughout the Westside.
440 Raymond Ave offers investors a rare opportunity to acquire a well-located Ocean Park apartment asset being offered for sale for the first time in nearly 30 years, with extensive renovations, a walk-to-beach location, and continued rental upside.
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$882,645
|
$55.79
|
| Other Income |
$10,958
|
$0.69
|
| Vacancy Loss |
$26,808
|
$1.69
|
| Effective Gross Income |
$866,795
|
$54.79
|
| Taxes |
$131,663
|
$8.32
|
| Operating Expenses |
$132,923
|
$8.40
|
| Total Expenses |
$264,586
|
$16.72
|
| Net Operating Income |
$602,209
|
$38.07
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $882,645 |
| Annual Per SF | $55.79 |
| Other Income (CAD) | |
|---|---|
| Annual | $10,958 |
| Annual Per SF | $0.69 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $26,808 |
| Annual Per SF | $1.69 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $866,795 |
| Annual Per SF | $54.79 |
| Taxes (CAD) | |
|---|---|
| Annual | $131,663 |
| Annual Per SF | $8.32 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $132,923 |
| Annual Per SF | $8.40 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $264,586 |
| Annual Per SF | $16.72 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $602,209 |
| Annual Per SF | $38.07 |
Property Facts
| Price | $10,971,907 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $548,595 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 5.49% | Building Size | 15,820 SF |
| Gross Rent Multiplier | 12.28 | Average Occupancy | 95% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.83/1,000 SF |
| Zoning | R3, Santa Monica - OP2 | ||
| Price | $10,971,907 CAD |
| Price Per Unit | $548,595 CAD |
| Sale Type | Investment |
| Cap Rate | 5.49% |
| Gross Rent Multiplier | 12.28 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 15,820 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.83/1,000 SF |
| Zoning | R3, Santa Monica - OP2 |
Amenities
Unit Amenities
- Balcony
- Storage Space
- Refrigerator
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | $4,121 CAD | - |
| 1+1 | 12 | $3,381 CAD | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4287-020-031 | Total Assessment | $3,101,107 CAD (2025) |
| Land Assessment | $1,564,523 CAD (2025) | Annual Taxes | $131,663 CAD ($8.32 CAD/SF) |
| Improvements Assessment | $1,536,584 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
4287-020-031
Land Assessment
$1,564,523 CAD (2025)
Improvements Assessment
$1,536,584 CAD (2025)
Total Assessment
$3,101,107 CAD (2025)
Annual Taxes
$131,663 CAD ($8.32 CAD/SF)
Tax Year
2026
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Raymond Ave Apartments | 440 Raymond Ave
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