Property Details.

1231 17th Street is an ideal investment opportunity in the heart of Downtown Santa Monica for an owner/user or investor. Located just south of Wilshire Blvd., the subject property offers proximity to the hustle and bustle of the Downtown Santa Monica neighborhood and ease of access to major employment centers throughout the Westside.
For the investor, this five-unit property can be delivered fully occupied at 13.47 GRM and 4.8% CAP, numbers unheard of in this prime Santa Monica location. Additionally, 1231 17th Street affords the opportunity for a 70% loan-to-value at today’s historically low-interest rates.
For an owner/user, the two large front units are currently configured as a four-bedroom and two-bath home and can be delivered vacant.
1231 17th Street allows investors to acquire a phenomenal multi-family building in one of Los Angeles’ premier beach communities while having owner/user flexibility.

Price $2,500,000

Year Built 1950

# of Units 5

Price P/ Unit $500,000

Sq. ft. 3,878 SF

Price p/ Sq. ft. $645

Current Cap Rate 4.80%

Proforma Cap Rate 6.03%

Current GRM 13.47%

Proforma GRM 11.51%

Lot Size 7,522 SF

Zoning SMR2

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1231 17th Street
Santa Monica, CA 90404
Kenny Stevens LA Multifamily Real Estate Broker

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