823 5th St 10 Unit Apartment Building $6,713,980 CAD ($671,398 CAD/Unit) 3.89% Cap Rate Santa Monica, CA 90403

823 5th Street represents an exceptional investment opportunity in Santa Monica, blending prime location with outstanding potential for growth and value.

Nestled on a picturesque, palm tree-lined street, this impressive 10-unit apartment building spans 10,523 square feet across two thoughtfully designed stories. The property offers a dynamic blend of one studio, three one-bedroom units, and six spacious two-bedroom residences, providing a welcoming environment for a variety of tenants. Built in 1958 and meticulously maintained over the years, the building radiates classic charm while delivering modern comforts. Residents enjoy the convenience of on-site parking and carport options, ensuring hassle-free living, while each unit boasts exterior access for enhanced privacy and ease. With a consistently high occupancy rate, the demand in this desirable Santa Monica neighborhood remains strong. For investors, there is ample opportunity to elevate the property's value by updating interiors and leasing units at market rates, positioning this asset for increased net operating income and sustained long-term growth.

Located in the sought-after Wilshire-Montana neighborhood of Santa Monica, this building offers residents both convenience and tranquility. Residents can easily enjoy the city's amenities while living in a peaceful area. The neighborhood features plenty of shops, restaurants on Montana Avenue, and inviting green spaces. Popular attractions like 3rd Street Promenade, Santa Monica Beach, and Palisades Park are all within walking distance. Access to the 10 Freeway and Pacific Coast Highway is close by, making weekend getaways up the coast simple.