522-532 Idaho Ave 6 Unit Apartment Building $3,266,265 CAD ($544,377 CAD/Unit) Santa Monica, CA 90403

CBRE is pleased to present 522-532 Idaho Avenue, a six-unit multifamily property in Santa Monica's Wilshire-Montana neighborhood. It sits one block south of Montana Avenue and six blocks from Palisades Park and the beach. The location is highly walkable, and the building is simple to run, a good fit for private buyers who want an A+ location, steady income, and room to grow rents.
Offered at $2,350,000, the property delivers a 5.94% CAP on September 2026 scheduled income, calculated on the $2,420,000 Year 1 total cost, which includes $70,000 of budgeted CapEx at Units 528 and 532 and assumes self-management. Scheduled income reflects an 11.93 GRM. A pro forma GRM of 10.38 shows how much rents can grow as legacy tenancies turn. Renovating Units 522 and 524 at turnover adds $70,000 of CapEx, for an all-in basis of $2,490,000 and a 7.07% pro forma CAP.
Three of the six units (50%) will be delivered vacant, giving a buyer a clear path to renovate, customize, and lease at market rents right away. A buyer sets the finish level from day one instead of working around tenants. Ownership has already paid for new landscaping, fencing, and irrigation, and the front yard will be delivered unassigned, so a buyer can program it as a private patio, a shared amenity, or a more defined entry. Together, the vacancies give a buyer control over both the interiors and how the property presents.
Built in 1922, the property has six one-bedroom, one-bathroom railroad-bungalow units totaling about 3,360 SF on a 7,480 SF corner lot. Zoning is SMR2, and the site carries legal non-conforming density. Units 526 and 530 have new kitchens and baths, new flooring, in-unit washer/dryers, and custom closets. Exterior work includes new landscaping, fencing, irrigation, and fresh paint.
With Montana Avenue, Downtown Santa Monica, and the beach all walkable, and quick access to PCH and the I-10, 522-532 Idaho Avenue is a rare chance to buy a well-located, easy-to-manage asset with upside in one of Santa Monica's best neighborhoods.