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231 California Avenue, a rare five-unit multifamily investment located in the prestigious North of Wilshire enclave of Santa Monica-just three blocks from the beach and moments from the vibrant retail and dining along Montana Avenue. Built in 1953, this two-story property spans approximately 4,426 square feet on a 5,016 square-foot lot zoned SMR3*, offering investors a compelling blend of prime location, strong in-place fundamentals, and substantial long-term upside. The building features an attractive unit mix of spacious one- and two-bedroom layouts, including two 1-bed/1 bath units, two 2-bed/1-bath units and one 2-bed/1.5- bath unit which boasts a private outdoor patio. The property includes four on-site parking spaces (two garaged and two tandem), with additional permitted street parking available for residents. Each unit is separately metered for gas and electricity, includes its own water heater, and is supported by a security system. Operating expenses are minimal, limited primarily to water, common area electricity, and trash. Boasting a Walk Score of 89, the location offers residents unparalleled access to Santa Monica's top lifestyle destinations, including the beach, Palisades Park, Third Street Promenade, and the iconic Pier. Easy access to major transit corridors like the 10 Freeway, 405, PCH, and Expo Line ensures convenient connectivity to Downtown LA, Silicon Beach, and LAX. This is a premier opportunity to acquire a turn-key asset in one of Southern California's most supply-constrained and highly desirable coastal submarkets.
Property Type(s):
Residential Income
| Last Updated | 6/11/2025 | Year Built | 1953 |
|---|---|---|---|
| Community | C14 - Santa Monica | Garage Spaces | 2.0 |
| County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Cooktop, Refrigerator |
| AREA | C14 - Santa Monica |
| GARAGE | Yes |
| HEAT | Central |
| LOT | 5018 sq ft |
| PARKING | Driveway, Garage |
| STORIES | 2 |
Location
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Listed with Compass
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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