Property Details

Price $6,500,000

Year Built 1961

# of Units 12

Price P/ Unit $541,667

Sq. ft. 14,145 SF

Price p/ Sq. ft. $460

Current Cap Rate 2.28%

Proforma Cap Rate 5.27%

Lot Size 7,481 SF

Zoning SMR2

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844 6th Street
Santa Monica, CA 90403

About the Property

Kenny Stevens Team is pleased to present 844 6th Street, a twelve unit value-add investment property located in the metropolitan beach community of Santa Monica. Constructed in 1961, the 14,145 SF two-story building is comprised of (4) two-bedroom townhouse-style units with den, (2) two-bedroom townhouse-style units, (4) one-bedroom units and (2) single units. The building features bright and spacious units averaging 1,200 SF each, and several units are equipped with private patios/balconies. Additional property amenities include a gated garage with approx. 14 parking spaces (with 2 additional covered spaces) and soft-story retrofitting has been completed. 844 6th Street presents a significant value-add opportunity to investors as current rents are approx. 74% below market value for nicely remodeled units in the area.

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