921-925 16th St
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921-925 16th St
6 Unit Block of Flats £4,526,687 (£754,448/Unit) 4.90% Net Initial Yield Santa Monica, CA 90403
INVESTMENT HIGHLIGHTS
- Recently remodeled throughout
- Opportunity to add one to two units, the income potential could see a substantial increase of up to $100,000 per year
- Many units feature private patios
EXECUTIVE SUMMARY
Nestled amidst lush greenery, 921 16th St presents a rare opportunity to own a charming property comprising six units across three distinct buildings. Each unit offers a recently remodeled unique layout while maintaining consistent finishes throughout. Residents can revel in the tranquility of their surroundings, with many units featuring private patios, perfect for unwinding amidst nature's embrace. Practical amenities including a shared laundry area, bike storage, and ample parking options in the back alley, except for one-bedroom units which utilize street parking. Additional storage areas and a tankless water heater enhance convenience and functionality, elevating the living experience for residents. Moreover, this property holds untapped potential for value enhancement. With the opportunity to add one to two units, the income potential could see a substantial increase of up to $100,000 per year, presenting an enticing prospect for investors seeking to maximize returns. Embrace the allure of this verdant retreat, offering a harmonious blend of nature, convenience, and investment potential in a coveted locale.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | £4,526,687 | Apartment Style | Low Rise |
| Price Per Unit | £754,448 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Net Initial Yield | 4.90% | Building Size | 5,228 SF |
| Gross Rent Multiplier | 16 | Number of Floors | 2 |
| No. Units | 6 | Year Built | 1927 |
| Property Type | Multifamily | Parking Ratio | 0.57/1,000 SF |
| Property Subtype | Apartment |
| Price | £4,526,687 |
| Price Per Unit | £754,448 |
| Sale Type | Investment |
| Net Initial Yield | 4.90% |
| 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 |
| Number of Floors | 2 |
| Year Built | 1927 |
| Parking Ratio | 0.57/1,000 SF |
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 | 3 | £3,948 | - |
| 2+1 | 2 | £5,105 | - |
| 3+1 | 1 | £5,117 | - |
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Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 4281-002-021 | Improvements Assessment | £1,690,289 (2024) |
| Land Assessment | £1,827,340 (2024) | Total Assessment | £3,517,629 (2024) |
PROPERTY TAXES
Parcel Number
4281-002-021
Land Assessment
£1,827,340 (2024)
Improvements Assessment
£1,690,289 (2024)
Total Assessment
£3,517,629 (2024)
ZONING
| Zoning Code | R2, Santa Monica |
| R2, Santa Monica |
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921-925 16th St
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