11 Unit Investment Property North of Wilshire – Santa Monica – 3.12% CAP

1143 11th Street, Santa Monica, CA 90403

3.12% CAP Rate – 4.5% CAP Rate on Market Rents – 11 Unit Investment Property North of Wilshire

Asking Price: $4,995,000

GRM: 18.98
CAP: 3.12%

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Eric von Bluecher





11 Unit Investment Property North of Wilshire

  5.34% Market CAP with Mills Act / 4.43% Market CAP without Mills Act
  Fantastic north of Wilshire location. Walk to bars and restaurants
  Historic Landmarked Regency Moderne architectural styling
  Potential Mills Act candidate for significant lower tax basis & benefits for new owner
  Bright and tranquil courtyard common area with built-in BBQ and shaded patio
  Timeless, well laid out interior floor plans with hardwood and tile floors
  3 storage units providing additional income, one storage unit collecting $275/month
  Vacant garage will collect up to $500/month
  New water line from street to building
  All new gas lines running from street to building along with new earthquake shut-off valves
  Some copper pipping throughout the building
  3 new water heaters in the rear building
  Hardwood floors throughout
  Large 1 Bed / 1 Bath unit has large balcony

PROPERTY DESCRIPTION – 11 Unit Investment Property North of Wilshire

1143-45 11th St, Enjoy beautiful architecture, cash flow and future upside with this ideally located multifamily investment. This stunning Historical Regency Moderne style building is located north of Wilshire in Santa Monica; which has been rated one of the highest rental markets in the nation. Shopping, restaurants, movie theaters, are within walking distance of the property. The property consists of two structures that surround a beautiful bright and tranquil courtyard common area with a built-in BBQ and shaded patio. The unit mix is comprised of (5) 1+1’s and (6) studios. One bedroom and studio units equate to less long term tenants common in Santa Monica rent controlled buildings. The interiors of the units are classic 1920s look and feel with tile and hardwood floors as well as tile counters, for easy and low cost turn-around for new tenants. Added benefit for the new owner would be to apply for the Mills Act to reduce your property tax as well as other incentives to further your return on investment.



1902 Wright Place, Suite 180
Carlsbad, CA 92008, USA

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