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$12,400,000
Est. payment /mo
36 Beds
45 Baths
29,535 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 29,535 sqft
Price per Sqft $419
MLS Listing ID 25583817
Bedrooms 36
HOA Y/N No
Year Built 1971
Lot Size 0.345 Acres
Property Description
1117 6th Street presents a rare opportunity to acquire a well-located, 27-unit multifamily asset in the heart of Santa Monica, just three blocks from the beach and within walking distance to the world-renowned 3rd Street Promenade. Built in 1971 and offered for sale for the first time in over 40 years, the property spans approximately 29,535 square feet on a 14,800 square foot lot and offers an ideal unit mix for the local tenant base: nine (9) 1-bedroom/1-bath units, ten(9) 1-bedroom/1.5-bath units with dens, six (7) 2-bedroom/2-bath units, and two (2) 2-bedroom/2-bath units with dens. Many units feature spacious floorplans, ample closet space, and extra storage. The building has undergone recent capital improvements, including a new roof installed just two years ago and completed balcony inspections and repairs, reducing near-term capital needs. Residents enjoy 40 gated garage parking spaces, controlled-access entry, onsite laundry facilities, and an elevator, all of which enhance tenant convenience and retention. The property is attractively priced at under $420 per square foot, offering investors significant value relative to comparable assets in this supply-constrained coastal market. With stable in-place income and meaningful upside through interior renovations and tenant turnover, 1117 6th Street presents a compelling blend of immediate cash flow and long-term appreciation potential. Situated in one of Southern California's most desirable rental markets with walkable access to retail, dining, employment centers, and transit this asset is well-positioned for investors seeking a well-maintained building with growth potential.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Interior
Fireplace No
Exterior
Parking Features Gated
Total Parking Spaces 40
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4292005028
Special Listing Condition Standard
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Listed by Michael Sterman Marcus & Millichap
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Devin McNichol & Aaron Bernbach
Agent | License ID: 02038322
Agent License ID: 02038322