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NEW $500K REDUCTION: Prestigious Location 537 San Vicente Blvd 33 Unit Apartment Building $21,479,104 CAD ($650,882 CAD/Unit) 5.17% Cap Rate Santa Monica, CA 90402
Investment Highlights
- NEW $500,000 PRICE REDUCTION AND NOW PRICED TO SELL
- Approx. $1,677,800 spent on apartment renovations / approx. $628,300 spent on common area renovations
- Many upgraded units and significant rental upside
- Excellent unit mix and Premier Santa Monica location on prestigious San Vicente Blvd.
- Ample gated subterranean parking
- Walk to Montana Avenue and Santa Monica beach
Executive Summary
NEW $500K REDUCTION! NOW PRICED TO SELL! Jonathan Taksa of The Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale an incredibly rare multifamily asset at 537 San Vicente Blvd. in the heart of LA’s famed beach city of Santa Monica. Originally built in 1957, the building boasts an ideal unit mix consisting of all large 1 & 2 bedroom units. All of these units are extremely spacious, have a terrific floor plan, and offer an abundance of natural light.
There is significant rental upside, and on-site parking for 33 cars (and a wraparound driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
There is significant rental upside, and on-site parking for 33 cars (and a wraparound driveway for additional parking), an on-site laundry facility and beautiful sparkling pool. The unit mix includes (19) 1-bed, 1-bath units, and (14) 2-bed, 2-bath units. This is a fantastic trophy asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
A quick walk to Montana Avenue and the beach, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier turnkey asset in one of the best rental locations in all of Los Angeles.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,713,625
|
$42.40
|
| Other Income |
$13,313
|
$0.33
|
| Vacancy Loss |
$51,408
|
$1.27
|
| Effective Gross Income |
$1,675,529
|
$41.46
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$565,586
|
$14.00
|
| Net Operating Income |
$1,109,943
|
$27.47
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,713,625 |
| Annual Per SF | $42.40 |
| Other Income (CAD) | |
|---|---|
| Annual | $13,313 |
| Annual Per SF | $0.33 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $51,408 |
| Annual Per SF | $1.27 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,675,529 |
| Annual Per SF | $41.46 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $565,586 |
| Annual Per SF | $14.00 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,109,943 |
| Annual Per SF | $27.47 |
Property Facts
| Price | $21,479,104 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $650,882 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.51 AC |
| Cap Rate | 5.17% | Building Size | 40,412 SF |
| Gross Rent Multiplier | 12.44 | Average Occupancy | 100% |
| No. Units | 33 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 0.82/1,000 SF |
| Zoning | R3, Santa Monica - Multiple Residential | ||
| Price | $21,479,104 CAD |
| Price Per Unit | $650,882 CAD |
| Sale Type | Investment |
| Cap Rate | 5.17% |
| Gross Rent Multiplier | 12.44 |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 40,412 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1957 |
| Parking Ratio | 0.82/1,000 SF |
| Zoning | R3, Santa Monica - Multiple Residential |
Amenities
Unit Amenities
- Balcony
- Heating
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Storage Space
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 19 | - | 800 |
| 2+2 | 14 | - | 1,200 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 4293-001-018 | Improvements Assessment | $9,222,516 CAD (2025) |
| Land Assessment | $22,637,090 CAD (2025) | Total Assessment | $31,859,606 CAD (2025) |
Property Taxes
Parcel Number
4293-001-018
Land Assessment
$22,637,090 CAD (2025)
Improvements Assessment
$9,222,516 CAD (2025)
Total Assessment
$31,859,606 CAD (2025)
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NEW $500K REDUCTION: Prestigious Location | 537 San Vicente Blvd
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