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921-925 16th St
Santa Monica, CA 90403
Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- Assumable 3.5% Loan
- six units across three well-maintained buildings, each recently remodeled with consistent finishes and unique layouts
- Ideally located less than one block from Montana Avenue
- ability to add one to two additional units, unlocking up to $100,000 in annual income growth
EXECUTIVE SUMMARY
With an assumable 3.5% loan, this six-unit income property in Santa Monica gives investors access to below-market financing that dramatically improves cash flow and ROI from day one. Ideally located less than one block from Montana Avenue, 921 16th Street places residents steps from some of the Westside's most sought-after restaurants, cafes, and retailers, including Bread Head, Lalaland Kind Cafe, Whole Foods, Williams Sonoma, and more. With an A+ walkability score and a short stroll to both Montana Avenue amenities and Santa Monica's world-renowned beaches, this location commands enduring tenant demand and premium rental rates. The property consists of six units across three well-maintained buildings, each recently remodeled with consistent finishes and unique layouts. Many units feature private patios, while practical amenities include a shared laundry area, bike storage, ample alley parking (plus street parking for one-bedroom units), additional storage, and tankless water heaters, ensuring convenience and long-term tenant retention. For investors seeking upside, the property offers clear value-add potential with the ability to add one to two additional units, unlocking up to $100,000 in annual income growth. This is a rare chance to acquire a turnkey, cash-flowing, and tax-efficient asset in one of Santa Monica's most coveted rental corridors blending immediate returns with long-term growth in a blue-chip location. Drive-by only. Interior access provided with accepted offer. Please do not disturb tenants.
PROPERTY FACTS
| Price Per Unit | $1,354,355 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.82% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 16 | Building Size | 5,228 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Zoning | R2, Santa Monica - Two-Family Dwellings | ||
| Price Per Unit | $1,354,355 CAD |
| Sale Type | Investment |
| Cap Rate | 4.82% |
| Gross Rent Multiplier | 16 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,228 SF |
| No. Stories | 2 |
| Year Built | 1927 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | R2, Santa Monica - Two-Family Dwellings |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Storage Space
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $9,121 CAD | - |
| 3+2 | 1 | $8,360 CAD | - |
| 1+1 | 1 | $5,073 CAD | - |
| 1+1 | 1 | $4,821 CAD | - |
| 1+1 | 1 | $4,058 CAD | - |
| 1+2 | 1 | $9,140 CAD | - |
PROPERTY TAXES
| Parcel Number | 4281-002-021 | Improvements Assessment | $3,072,380 CAD |
| Land Assessment | $3,321,495 CAD | Total Assessment | $6,393,875 CAD |
PROPERTY TAXES
Parcel Number
4281-002-021
Land Assessment
$3,321,495 CAD
Improvements Assessment
$3,072,380 CAD
Total Assessment
$6,393,875 CAD
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