Property Details

Year Built: 1923
Units: 5
Price / Unit: $360,000
Price / SqFt: $511
CAP: 2.49%
GRM: 21.14

Executive Summary


The Neema Group of Marcus & Millichap is pleased to present 1847 21st St, a 5-unit investment opportunity located in the prime location of Santa Monica just east of the intersection of Olympic Blvd and 20th St by the Santa Monica Freeway. The unit mix consists of one single family three-bedroom residence and two duplexes with a single, two one-bedroom units, and a two-bedroom unit. The majority of the units are leased at below market rents, providing an investor the opportunity to capture 99% rental upside through interior unit renovations as units turn. High Bike Score of 91, proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city. 

Santa Monica is one of the best locations in Los Angeles. Located just below Brentwood, this booming area is home to young professionals and families alike. Companies such as Activision Blizzard, Universal Music Group, Snap, and Lionsgate attract top talent to this area. Third Street Promenade provides residents with great dining and shopping experiences, while the beach and Santa Monica Pier allow residents to enjoy stunning views. 

Area Overview

Santa Monica

Santa Monica is in fact home to one of most iconic beaches in California. But did you know that Santa Monica is also home to eight different neighborhoods all with their own personality? Below we give you a rundown of every neighborhood, how the neighborhoods differ, and what you can expect from visiting each. 

Downtown Santa Monica is one of the most vibrant neighborhoods in Santa Monica, largely because it’s home to the Third Street Promenade and Santa Monica Place, two of the largest shopping areas in Santa Monica. The weekend finds the Third Street Promenade bustling with foot traffic of both locals and travelers. However, while Downtown Santa Monica is home to the highest concentration of shops, restaurants, and hotels in town, it also gives off a local vibe with its twice-weekly farmers market on Wednesday and Saturday mornings and lively street performers. 


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