Property listed by Marcus & Millichap, Jeffrey Louks 818-212-2700
$4,450,000
The property at 1042 6th Street in Santa Monica, CA 90403, is a well-positioned 16-unit multifamily building constructed in 1963, offering a balanced unit mix of eight one-bedroom/one-bathroom apartments and eight studios. Spanning approximately 9,900 square feet on a generous 0.26-acre lot, this two-story community has been meticulously maintained through… Read More decades of dedicated ownership, with consistent capital expenditures focused on optimizing operations, enhancing building performance, and boosting tenant appeal. Key improvements include the completion of a Soft Story Seismic retrofit in 2020 and the installation of a new roof in 2021. The building's quaint charm, combined with practical amenities such as on-site laundry and assigned parking, positions it as a stable income producer in one of Southern California's most coveted coastal markets, with strong rental demand driven by its prime location and enduring upkeep. Nestled in the desirable Wilshire-Montana neighborhood of SantaMonica, the property at 1042 6th Street benefits from exceptional proximity to the Pacific Ocean, just five blocks from the iconic SantaMonica Beach and Pier, offering residents easy access to miles of pristine coastline, recreational paths, and vibrant waterfront activities.Steps away from the highly desirable Montana Avenue, known for its upscale boutiques, gourmet restaurants, and tree-lined charm, the location embodies the quintessential Santa Monica lifestyle with a blend of luxury and convenience. Additionally, the property is only about three miles from the affluent Brentwood neighborhood, providing seamless connectivity to high-end shopping, cultural attractions, and professional hubs via excellent transit options, including a 73/100 transit score and 92/100 bike score. Surrounded by top-rated schools, Third Street Promenade's entertainment district, and everyday amenities, this address delivers unparalleled walkability (72/100 score) in a quiet, healthy community setting, making it an ideal spot for tenants seeking the best of coastal living. Prime Coastal Location: Just five blocks from Santa Monica Beach and Pier, with easy access to oceanfront recreation and stunningPacific views. Proximity to Upscale Amenities: Steps from Montana Avenue's boutique shopping and dining, and only three miles from Brentwood's luxury offerings. Well-Maintained Asset: Decades of ownership with regular capital expenditures enhancing operations, performance, and tenant appeal; Soft Story Seismic retrofit completed in 2020 and the installation of a new roof in 2021. Balanced Unit Mix: 16 units comprising eight one-bedroom/one-bathroom supporting diverse tenant profiles. Strong Accessibility: High walk (72/100), bike (92/100), and transit(73/100) scores, plus gated parking and on-site laundry for added convenience. Desirable Neighborhood: Situated in the Wilshire-Montana area, near Third Street Promenade, Santa Monica College (0.5 miles), and everyday essentials in a quiet, healthy environment. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
8
Square Ft.
9,900
Lot Size
0.26 Acres
Year Built
1963
MLS Number
26664259
Additional Details
Appliances & Equipment
Microwave, Refrigerator
Building
Built in 1963, Living area: 9900.0, 1 building, Levels: Two
Heating
WallFurnace
Income
Gross Income: $412,140, Net Operating Income: $236,812
Lot
0.2588 acres
Parking
Assigned
Taxes
Parcel Number: 4292011026, Zoning: SMR2*
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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