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Apartment with terrace Santa Monica (United States)by annonceur international
Prestige apartment / penthouse for sale in Santa Monica (United States) - White two-story house exterior
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Apartment with terraceSanta Monica (United States)
Price :
$4,075,000
bedrooms4 bathrooms5 land0.1 ha

The Fifth & Montana is a 10-unit multifamily property located at 848 5th Street in Santa Monica's Wilshire-Montana neighborhood, approximately one block south of Montana Avenue. The property offers strong in-place income, 12 parking spaces for 10 units, and approximately 11.8% rental upside. Current NOI is estimated at approximately $225,450, with a 5.53% current cap rate. At market rents, projected NOI is approximately $263,211 with a projected 6.46% market cap rate. Built in 1956, the two-building property comprises approximately 7,192 square feet on an approximately 7,492-square-foot lot. The unit mix includes three studios, six one-bedroom units, and one three-bedroom, three-bath unit. Parking consists of seven subterranean spaces and five rear alley garage spaces, providing approximately 1.2 spaces per unit. Six of the ten units have undergone renovations, including three remodeled since 2024. Additional improvements include a roof overlay completed in early 2024, Vulkem deck work completed in 2023, recent exterior painting, and staircase improvements. Select units feature updated kitchens and baths, stainless steel appliances, hardwood-style flooring, exposed-beam ceilings, and outdoor space. The property also includes a dedicated laundry room and landscaped common areas. The location offers proximity to Montana Avenue's restaurants, retailers, cafes, boutiques, and services, as well as Palisades Park, the Santa Monica coastline, Downtown Santa Monica, Third Street Promenade, and Santa Monica Place. The property has a 95 Bike ScoreBiker's Paradise and an 84 Walk ScoreVery Walkable. Nearby healthcare, education, technology, and entertainment employers contribute to a diverse Santa Monica employment base. ZIP Code 90403 reports a median household income of approximately $122,000, providing additional economic context for the surrounding Santa Monica rental market.
Advertiser reference : 120528470Le Figaro Properties reference : 109208301

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Apartment with terrace Santa Monica (United States)

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Prestige apartment / penthouse for sale in Santa Monica (United States) - White two-story house exterior
White house with green garden in this luxury apartment / penthouse for sale in Santa Monica ($4,075,000)
Light blue house facade, closed garage - Apartment / penthouse purchase in Santa Monica, 4 rooms, 4 bedrooms
Buy this luxury apartment / penthouse in Santa Monica (United States) with terrace
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annonceur international
8 Rue Centrale1003 Lausanne (Switzerland) All the listings of this agency

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