CA > Santa Monica
Santa Monica, CA 90404,1837 18th St
Santa Monica, CA 90404,1837 18th St
Santa Monica, CA 90404,1837 18th St
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Kirshner Elkin Properties

Kirshner Elkin Properties

+1(424) 214-0133
$3,475,000
Est. payment /mo
15 Beds
14 Baths
7,200 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 7,200 sqft

Price per Sqft $482

MLS Listing ID 25580261

Bedrooms 15

Construction Status Updated/Remodeled

Year Built 1990

Lot Size 8,008 Sqft

Acres 0.1839

Property Sub-Type Multi-Family

Property Description

We are pleased to present 1837 18th Street, an outstanding multifamily investment opportunity located in the heart of Santa Monica. Built in 1990, this well-maintained property offers spacious units, exceptional parking, and significant rental upside. 1837 18th Street consists of six 2-bedroom/2-bath units and one 3-bedroom/2-bath unit, totaling approximately 7,200 square feet on an 8,002 square foot lot. Four units are not subject to rent control, while the remaining three units have a rent-controlled deed restriction in place until 2045. One unit will be delivered vacant at closing, offering immediate lease-up potential. The current ownership has invested in notable capital improvements, including tenting the property for termites, replacing the roof (15-year warranty included), and upgrading many of the units. The property also boasts 13 subterranean parking spaces and three single-car garages an amenity rarely found in similar assets along with in-unit washer/dryer hookups in every apartment. All utilities including water are individually metered, resulting in low operating costs. Priced at a 5.24% cap rate and 12.82 GRM on current income, the building presents excellent potential to increase income through strategic rent increases and further upgrades. Situated in a prime Santa Monica location near acclaimed restaurants, boutique retail, and major employment centers, 1837 18th Street represents a rare opportunity to acquire a stable,"bread-and-butter" apartment asset with long-term upside in one of Los Angeles' most desirable rental markets.

Location

State CA

County Los Angeles

Area Santa Monica

Zoning SMR2*

Rooms

Other Rooms None

Interior

Heating Central

Cooling Central

Flooring Vinyl

Equipment Dishwasher, Stackable W/D Hookup, Refrigerator, Range/Oven, Microwave

Laundry In Unit

Exterior

Parking Features Subterranean, Garage

Garage Spaces 16.0

Pool None

Waterfront Description None

Roof Type Flat

Building

Story 2

Level or Stories Multi/Split, Two

Structure Type Stucco

Construction Status Updated/Remodeled

Others

Special Listing Condition Standard

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TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by BRC Advisors- BH

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+1(424) 214-0133

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