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2711-2715 Pico Blvd 16 Unit Apartment Building £4,461,412 (£278,838/Unit) 4.12% Net Initial Yield Santa Monica, CA 90405
INVESTMENT HIGHLIGHTS
- DELIVERED WITH 10 VACANT UNITS
- 9,926 square feet of building on a 20,897-square-foot lot
- Located next door to Starbucks and close to shopping, dining, and cultural landmarks in Santa Monica
- 16 units total: 14 one-bedrooms, 2 two-bedrooms
- Zoned MUBL (Mixed-Use Boulevard) FAR 2.0 and 45’ height under base standards. Potential for FAR 2.5 and 55’ height with 100% affordable housing proje
- Prime Santa Monica Location
EXECUTIVE SUMMARY
A Santa Monica Developer’s Dream! DELIVERED WITH 10 VACANT UNITS!
We are proud to present 2711-2715 Pico Blvd, a rare 16-unit apartment property in the heart of Santa Monica, offering incredible potential for investors and developers alike.
Set on a sprawling 20,897-square-foot lot, this property features two side-by-side buildings comprising 14 one-bedroom units and 2 two-bedroom units, all with charming hardwood floors. Parking is conveniently located at the rear of the property, adding to its tenant appeal. Plus, it’s situated directly next door to a Starbucks, ensuring unparalleled convenience and walkability.
This property presents a remarkable value-add opportunity through renovation or redevelopment. Zoned MUBL (Mixed-Use Boulevard), the site allows for FAR 2.0 and 45’ height under base standards. Potential for FAR 2.5 and 55’ height with 100% affordable housing projects (buyer to verify with the City of Santa Monica).
Prime Location:
Positioned in a highly desirable area, the property is just moments from Santa Monica’s top destinations:
• Santa Monica Beach and Pier
• Third Street Promenade
• Santa Monica Place shopping center
• Bergamot Station Art Gallery & Cultural Center
• UCLA Medical Center
• Colorado Center Urban Creative Office & Santa Monica Water Garden
And with a Starbucks right next door, tenants will enjoy ultimate convenience in their daily lives.
This is a once-in-a-lifetime opportunity to acquire a property with enormous potential in one of Southern California’s most desirable markets. Whether you’re planning to renovate the existing apartments or develop a mixed-use project, 2711-2715 Pico Blvd offers the location, size, and zoning to bring your vision to life.
We are proud to present 2711-2715 Pico Blvd, a rare 16-unit apartment property in the heart of Santa Monica, offering incredible potential for investors and developers alike.
Set on a sprawling 20,897-square-foot lot, this property features two side-by-side buildings comprising 14 one-bedroom units and 2 two-bedroom units, all with charming hardwood floors. Parking is conveniently located at the rear of the property, adding to its tenant appeal. Plus, it’s situated directly next door to a Starbucks, ensuring unparalleled convenience and walkability.
This property presents a remarkable value-add opportunity through renovation or redevelopment. Zoned MUBL (Mixed-Use Boulevard), the site allows for FAR 2.0 and 45’ height under base standards. Potential for FAR 2.5 and 55’ height with 100% affordable housing projects (buyer to verify with the City of Santa Monica).
Prime Location:
Positioned in a highly desirable area, the property is just moments from Santa Monica’s top destinations:
• Santa Monica Beach and Pier
• Third Street Promenade
• Santa Monica Place shopping center
• Bergamot Station Art Gallery & Cultural Center
• UCLA Medical Center
• Colorado Center Urban Creative Office & Santa Monica Water Garden
And with a Starbucks right next door, tenants will enjoy ultimate convenience in their daily lives.
This is a once-in-a-lifetime opportunity to acquire a property with enormous potential in one of Southern California’s most desirable markets. Whether you’re planning to renovate the existing apartments or develop a mixed-use project, 2711-2715 Pico Blvd offers the location, size, and zoning to bring your vision to life.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£276,908
|
£27.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£8,308
|
£0.84
|
| Effective Gross Income |
£268,601
|
£27.06
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£84,710
|
£8.53
|
| Net Operating Income |
£183,891
|
£18.53
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £276,908 |
| Annual Per sq ft | £27.90 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | £8,308 |
| Annual Per sq ft | £0.84 |
| Effective Gross Income | |
|---|---|
| Annual | £268,601 |
| Annual Per sq ft | £27.06 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Total Expenses | |
|---|---|
| Annual | £84,710 |
| Annual Per sq ft | £8.53 |
| Net Operating Income | |
|---|---|
| Annual | £183,891 |
| Annual Per sq ft | £18.53 |
PROPERTY FACTS
| Price | £4,461,412 | Apartment Style | Low-Rise |
| Price Per Unit | £278,838 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.48 ac |
| Yield | 4.12% | Property Size | 9,926 sq ft |
| Gross Rent Multiplier | 17.62 | No. Floors | 1 |
| No. Units | 16 | Year Built | 1951 |
| Property Type | Build-to-Rent | Parking Allocation | 1.21/1,000 sq ft |
| Property Subtype | Apartment | ||
| Use Class | MUBL - Zoned MUBL (Mixed-Use Boulevard) FAR 2.0 & 45’ height under base standards. Potential for FAR 2.5 & 55’ height with 100% affordable housing projects | ||
| Price | £4,461,412 |
| Price Per Unit | £278,838 |
| Sale Type | Investment |
| Yield | 4.12% |
| Gross Rent Multiplier | 17.62 |
| No. Units | 16 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.48 ac |
| Property Size | 9,926 sq ft |
| No. Floors | 1 |
| Year Built | 1951 |
| Parking Allocation | 1.21/1,000 sq ft |
| Use Class | MUBL - Zoned MUBL (Mixed-Use Boulevard) FAR 2.0 & 45’ height under base standards. Potential for FAR 2.5 & 55’ height with 100% affordable housing projects |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 14 | - | - |
| 2+1 | 2 | - | - |
1 1
Walk Score®
Easily Walkable (84)
Bike Score®
Ideal For Cyclists (90)
PROPERTY TAXES
| Parcel Number | 4274-008-038 | Improvements Assessment | £567,266 (2025) |
| Land Assessment | £828,689 (2025) | Total Assessment | £1,395,955 (2025) |
PROPERTY TAXES
Parcel Number
4274-008-038
Land Assessment
£828,689 (2025)
Improvements Assessment
£567,266 (2025)
Total Assessment
£1,395,955 (2025)
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2711-2715 Pico Blvd
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