801-811 26th St Immeuble residentiel 12 lots 4 535 895 € (377 991 €/Lot) Santa Monica, CA 90403

12-Unit Multifamily Investment Opportunity
• Rare multifamily opportunity located on a prime corner double lot on highly sought-after Montana Avenue
• Charming bungalow style building on market for the first time in 25 years
• On the market for the first time in 25 years, the property is competitively priced at a 4.61% in-place cap rate to be a 7.41% pro forma cap rate
• Units feature hardwood floors, dual entrances, dining rooms, and abundant natural lighting—select units offer renovated kitchens and baths, semi-private patios, in-unit washer and dryers, recessed lighting, and upgraded appliances
• Community amenities include a private lawn and on-site laundry for non-renovated units, with ample opportunity to enhance the space with fire pits, BBQ areas, and a dog run
• Nine garages located on the right side of the property present the opportunity to build (2-3) Accessory Dwelling Units (ADUs) over the existing garages, offering significant upside potential for additional rental income resulting in a 7.98% pro forma cap rate
Strong Multifamily Fundamentals
• Submarket asking rents expected to rise 16% over the next five years
• The property is served by three outstanding public schools, each rated 8/10 or higher by GreatSchools
• The average household income within a one-mile radius is $201,652
• Within a five-mile radius of the property, the population is 437,228
• Median home value of $2,000,001 within a one-mile radius of the property
Prime Location, Steps from Montana Avenue
• Ideally located in Santa Monica, just minutes from Silicon Beach, a thriving technology hub with major employers including SnapInc., Hulu, and Activision Blizzard, while being close to the growing technology and media scene in Santa Monica, home to companies such as Google, TikTok, and Lionsgate
• Prime location on the bustling Montana Avenue, filled with upscale dining and boutique shopping, and walking distance to the Brentwood Country Mart, featuring luxurious shops, cafes, and restaurants, and Wilshire Boulevard, home to a plethora of grocery stores including Erewhon, Bristol Farms, Trader Joe's, and Whole Foods
• Located on the border of Santa Monica and Brentwood, this property is a short walk from the Brentwood Country Club and offers outstanding connectivity, with the 405 freeway just 10 minutes away and the beach less than two miles away via Montana Avenue