1122 9th St, Santa Monica, CA 90403

Property Description

UNDER 16 GRM & DELIVERED WITH 2 VACANT UNITS. 9th Street is a wonderful 10 unit apartment building located in the highly desirable Wilshire - Montana neighborhood of Santa Monica just north of Wilshire Blvd. An excellent unit mix of (80%) two bedrooms and large building foot print of over 10,300 SF (for 10 units) positions 9th Street to be able to potentially achieve excellent market rents post renovation. The strong in place income (15.92 GRM / 4.36% CAP on Current), future potential upside (12.10 GRM / 6.29% CAP at Market), and prime location surrounded by (restaurants, shops, landmarks, parks, schools, beaches, and hospitals) makes this stand out as a truly special offering.
 
 Santa Monica is a beachfront city in western Los Angeles County, California, United States. Situated bordered on three sides by the city of Pacific Palisades to the north, Brentwood on the northeast, West Los Angeles on the east, Mar Vista on the southeast, and Venice on the south. Due in part to an agreeable climate, Santa Monica became a famed resort town by the early 20th century. The city has experienced a boom since the late 1980s through the revitalization of its downtown core, significant job growth, and increased tourism. 
 
 3rd Street Promenade - .7 Miles away | St. John's Hospital - 1.4 Miles | Santa Monica College - 1.7 Miles | Silcon Beach / Expo Line