927 3rd Street, Santa Monica, CA 90403

Santa Monica
Local realty services provided by:Better Homes and Gardens Real Estate Haven Properties
927 3rd Street,Santa Monica, CA 90403
$5,600,000
  • 22 Beds
  • 23 Baths
  • 15,582 sq. ft.
  • Multi-family
  • Active
Listed by: david miller, errol spiro
Office: miller & desatnik realty co.310-202-9166
MLS#:26992555
Source:CRMLS

Price summary

  • Price:$5,600,000
  • Price per sq. ft.:$359.39

About this home

927 & 933 3rd Street is a 20-unit multifamily investment offering assembled across two adjacent parcels in Santa Monica's Wilshire Montana district three blocks from the beach and within a short walk of both Montana Avenue and the Third Street Promenade. The two 1956-vintage buildings are held and operated as a single asset, and are offered together.The unit mix is six two-bedroom units, ten one-bedroom units and four studios across 15,582 net rentable square feet on a combined 14,999 square foot lot.Scale of this kind is unusual in the submarket: of the eight most recent apartment sales in the immediate area, only one exceeded 15 units, and none offered a two-parcel assemblage.The defining characteristic of the offering is the spread between in-place and market rents. Current scheduled income is $464,067 against a projected market of $651,048 a 40.3% gap that translates into 64.3% net operating income growth as units turn. At the list price the asset trades at a 5.21% cap rate on...

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Home facts

  • Year built:1956
  • Listing ID #:26992555
  • Added:45 day(s) ago
  • Updated:November 13, 2026 at 12:59 PM

Rooms and interior

  • Bedrooms:22
  • Total bathrooms:23
  • Kitchen Description:Microwave, Refrigerator
  • Living area:15,582 sq. ft.

Heating and cooling

  • Heating:Wall Furnance

Structure and exterior

  • Year built:1956
  • Building area:15,582 sq. ft.
  • Lot area:0.34 Acres
  • Levels:2 Story

Finances and disclosures

  • Price:$5,600,000
  • Price per sq. ft.:$359.39

Parking

  • Total parking spaces:20
  • Parking description:Garage, Tandem
  • Garage:Yes
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