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The subject property is a six-unit residential income asset located at 1937 17th Street in central Santa Monica. Built in 1948 and zoned SMR2, the asset consists of (1) 3-Bedroom / 1.5-Bath unit and (5) 2-Bedroom / 1-Bath units, including a detached 2 Bedroom / 1-Bath home located towards the rear of the property, totaling 4,840 rentable square feet on a 7,746 SF lot. The property will be delivered with three vacant units at the close of escrow. Currently two units are vacant with a third unit becoming vacant at the end of August. Recent upgrades include a new roof and updated electrical systems. Tenant parking is on-site with 8 uncovered individual spaces and a 2 car garage located at the front of the property. The property delivers strong in-place cash flow at a 5.00% cap rate, with meaningful embedded upside as rents are brought to market. Potential ADU can be built as a garage conversion, buyer to verify. Positioned in Prime Santa Monica, the property sits within one block of Santa Monica College, and a short commute to Whole Foods, the Pico corridor retail, and the Bergamot Expo Line station, giving tenants a direct rail link to Downtown Santa Monica, Century City, and Downtown Los Angeles. The Santa Monica beach and pier are minutes to the west. Santa Monica remains a supply-constrained, high-demand rental market with deep renter demand from the Silicon Beach tech corridor and the long-term durability that defines Westside multifamily.
Property Type(s):
Residential Income
| Last Updated | 7/23/2026 | Year Built | 1948 |
|---|---|---|---|
| Community | C14 - Santa Monica | Garage Spaces | 2.0 |
| County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Disposal, Gas Oven, Range, Range Hood, Refrigerator |
| AREA | C14 - Santa Monica |
| GARAGE | Yes |
| HEAT | Wall Furnace |
| LOT | 7749 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| LOT DIMENSIONS | 50x155 |
| PARKING | Assigned, Driveway, Garage |
| POOL DESCRIPTION | None |
| SEWER | Other |
| STORIES | Split/Multi Level |
| STYLE | MidCenturyModern |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights |
Location
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Listed with Lyon Stahl Investment Real Estate, Inc.
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