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921-925 16th St 6 Unit Apartment Building $7,727,814 CAD ($1,287,969 CAD/Unit) 4.60% Cap Rate Santa Monica, CA 90403
Investment Highlights
- Positioned Steps From Montana Avenue With Premier Walkability
- Offers Assumable Below-Market Financing At A Favorable 3.5 Percent Rate
- Delivers Consistent Tenant Demand In A Highly Sought-After Santa Monica Location
- Features Remodeled Units With Stylish Finishes And Modern Amenities
- Provides Clear Value-Add Potential Through Expansion Opportunities
- Includes Practical Conveniences Such As Bike Storage And Ample Parking
Executive Summary
Offered at $5,595,000, 921–925 16th Street presents a rare opportunity to acquire a turnkey six-unit multifamily asset in one of Santa Monica’s most coveted rental corridors. Positioned less than a block from Montana Avenue, the property delivers exceptional walkability with immediate access to popular restaurants, cafés, boutique retailers, Whole Foods, and neighborhood amenities. The buildings feature recently remodeled units with updated finishes, hardwood flooring, stainless steel appliances, private patios in select units, shared laundry, bike storage, alley parking, and tankless water heaters. Investors benefit from an assumable 3.5% loan, dramatically enhancing cash flow from day one. Strong in-place income, a 4.6% cap rate, and clear value-add potential through the addition of one to two units—unlocking up to $96,000 in annual income—make this a compelling opportunity. This irreplaceable North of Wilshire location consistently commands premium rents and long-term tenant demand.
Property Facts
| Price | $7,727,814 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $1,287,969 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.60% | Building Size | 5,268 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 | $7,727,814 CAD |
| Price Per Unit | $1,287,969 CAD |
| Sale Type | Investment |
| Cap Rate | 4.60% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,268 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 |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 1
Very walkable
80/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4281-002-021 | Improvements Assessment | $3,024,857 CAD |
| Land Assessment | $3,270,118 CAD | Total Assessment | $6,294,975 CAD |
Property Taxes
Parcel Number
4281-002-021
Land Assessment
$3,270,118 CAD
Improvements Assessment
$3,024,857 CAD
Total Assessment
$6,294,975 CAD
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921-925 16th St
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