1224 9th, Santa Monica CA 90401 | $2,600,000

1224 9th St is a newly listed 10 unit multifamily opportunity in the heart of Santa Monica, positioned between Wilshire Blvd and Arizona Ave in one of the city's most walkable and supply-constrained residential corridors. The property consists of (10) 1 Bed/1 Bath units spread across approximately 6,380 square feet, situated on a 7,493 square foot lot zoned SMR3. Current rents average well below market, reflecting approximately 38% upside as units turn. The property is 90% occupied and features nine on-site parking spaces, four covered carport spaces in front and five in the rear accessed from the alley, a highly valuable amenity in a neighborhood where off-street parking is limited and consistently in demand. The property boasts a Walk Score and Rider's Score of 100 out of 100, placing residents within steps of Wilshire Blvd's dining, retail, and everyday conveniences, and just minutes from Downtown Santa Monica and the Pacific Ocean. Beyond rental upside, SB 1211 provides a pathway to organically grow income through ADU development without expanding the existing building footprint, creating a compelling additional value-add component. Together, these attributes position 1224 9th St as a rare opportunity to acquire a stable, income-producing asset in one of the Westside's most enduring coastal markets.

More Details