902 16th Street

Santa Monica, CA 90403

$3,600,000
Price
7
Beds
7
Baths
5,560 Sq. Ft.
$647 / Sq. Ft.
5,560
Sq. Ft.
$647
per Sq. Ft.

Description

Over 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping...Over 5% CAP and stabilized 7 unit apartment building at 902 16th St. apartment is located in a prime Santa Monica neighborhood just one block south of Montana Ave., known for its upscale shopping and dining offering a charming and sophisticated atmosphere close to the beach. Carefully cared for and meticulously managed, this building features bright units with abundant windows and spacious balconies in some units. New roof was also installed this year to the middle structure. Exterior landscaping includes fruit trees and flower beds lining in the front and backyard. Comprising three distinct buildings, the property includes: Building #1- facing 16th Street with four units: 902A & 904A on the ground floor, and 902B & 904B upstairs. Each floor shares a washer/dryer set between two units. Building #2- standalone one-bedroom house at 1522 Idaho Ave, facing Idaho Ave. Building #3- Two one-bedroom units situated above five garages facing Idaho Ave. 3 Units on Idaho Ave share a laundry room. This trophy property weathered the pandemic rental market downturn and historically has experienced low vacancy and fast turnovers. It offers a rare blend of prime location and sound investment, ideal for discerning buyers looking to invest in a well-maintained asset with steady rental income.
  1. Listed by Susan Lau • DRE #01516710 • Brokerage DRE #01464847 • Coldwell Banker Realty
  2. Listed by Eric Sackler • DRE #01057377 • Brokerage DRE #01464847 • Coldwell Banker Realty

Property Details for 902 16th Street

Zoning
SMR2*
Style
Other
Parcel Number
4281007001
Total Units
7.0
Living Area
5560
Source Living Area
Assessor
Area
Santa Monica (C14)
Vacancy Rate
0
LISTING UPDATED: 12/18/2024 12:31 PM

Property Details for 902 16th Street

StatusActive
MLS #24-473231
Days on Market4
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1926
Lot Size0.17 AC / 7,503 SF
CountyLos Angeles County

Building Information for 902 16th Street

Stories2Residences-Year Built1926Building Size-Lot Size0.17 AC / 7,503 SF

Property Information for 902 16th Street

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Apartments
  • Water: District
  • Water Heaters: Yes
Contract Info
Contract Info
  • Financing: Cash To New Loan
  • Disclosures: As Is, Property Report
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $252,642
  • Net Operating Income: $183,720.00
  • Gross Income: $252,642
  • Cap Rate: 5.10%
  • Gross Rent Multiplier: $14.25
  • Actual Annual Gross Rent: $252,642.00
  • Total Annual Expense: 68922
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.1723
  • Lot Size Square Feet: 7503
  • Lot Location: Corner Lot
Parking Details
Parking Details
  • Parking Garage: Garage - 4+ Car
  • Total Parking: 5
Interior Features
Interior Features
  • Levels: Two, One
  • Cooling Type: Other
  • Heating: Wall Furnace
  • Heating Type: Other, Wall
  • Flooring: Mixed
  • Equipment: Other
  • Laundry: Inside, Room, Community
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis Court: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-18-2024
  • Rent Control: Yes
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,350.00
  • Unit Actual Rent: $3,350.00
  • Unit Projected Rent: $3,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,814.00
  • Unit Actual Rent: $2,814.00
  • Unit Projected Rent: $3,900.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,429.00
  • Unit Actual Rent: $3,429.00
  • Unit Projected Rent: $4,100.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,750.00
  • Unit Actual Rent: $3,750.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,600.00
  • Unit Actual Rent: $2,600.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,600.00
  • Unit Actual Rent: $2,600.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,509.00
  • Unit Actual Rent: $2,509.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $153,270.00
  • Assessed Improvement Percent: 13.4
  • Assessed Land Value: $990,278.00
  • Assessed Land Percent: 86.6
  • Assessed Total Value: $1,143,548.00

Property History for 902 16th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 902 16th Street

Taxable ValueLand$1,010,083Additions$158,685Total$1,168,768
Tax Record2024$15,304 ($1,275 / month)
Home Facts
Total Finished SqFt5,560 SqFtAbove Grade Finished SqFt5,560 SqFtLot Size7,503 SqFtStyleMulti-Family Res (5+ Units)Year Built1926ZoningSMR2*CountyLOS ANGELESAPN4281-007-001

Schools near 902 16th Street

This home is within Santa Monica-Malibu Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Franklin Elementary School
PublicK to 5

Lincoln Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Olympic High (Continuation) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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902 16th Street is a multi-family home for sale in Santa Monica, CA 90403. This property was listed for sale on December 17, 2024 by Coldwell Banker Realty, it's currently listed at $3,600,000. It has been on the market for a total of 4 days and was last sold on January 17, 1990. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include Franklin Elementary School, Lincoln Middle School and Santa Monica High School. 902 16th Street is a 7-bed, 7-bath, 5,560 sqft multi-family home built in 1926.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Susan Lau, DRE #01516710; Coldwell Banker Realty, Eric Sackler, DRE #01057377

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.