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12-Unit Multifamily Investment Opportunity *Rare multifamily opportunity located on a prime corner double lot on highly sought-after Montana Avenue *Charming bungalow style building on market for the first time in 25 years*On the market for the first time in 25 years, the property is competitively priced at a 4.61% in-place cap rate to be a 7.41% pro forma cap rate *Units feature hardwood floors, dual entrances, dining rooms, and abundant natural lightingselect units offer renovated kitchens and baths, semi-private patios, in-unit washer and dryers, recessed lighting, and upgraded appliances *Community amenities include a private lawn and on-site laundry for non-renovated units, with ample opportunity to enhance the space with fire pits, BBQ areas, and a dog run *Nine garages located on the right side of the property present the opportunity to build (2-3) Accessory Dwelling Units (ADUs) over the existing garages, offering significant upside potential for additional rental income resulting in a 7.98% pro forma cap rate
Property Type(s):
Commercial
| Last Updated | 8/18/2025 | Year Built | 1948 |
|---|---|---|---|
| Community | C14 - Santa Monica | County | Los Angeles |
Additional Details
| AREA | C14 - Santa Monica |
|---|---|
| LOT | 0.3375 acre(s) |
| STORIES | 2 |
Location
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Listed with Colliers International Greater Los Angeles, Inc.
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