1318 19th Street Bungalows

1318 19th Street, Santa Monica, CA 90404

Sale Price

$2,700,000

Investment Overview

Units

6

Year Built

1955

The Offering

Stepp Commercial presents 1319 19th Street,  six bungalow-style units located in prime Santa Monica. 

The property consists of (1) two-bedroom/one-bath unit, (3) one-bedroom/one-bath units, and (2) studio units. These sizable apartments offer private entrances, hardwood floors, in-unit washer/dryers, stainless steel appliances and lots of natural light. Five garages are available for parking or storage.

With a Walk Score of 92, the property provides easy, walkable access to all amenities for daily errands. The building is just blocks from Whole Foods Market, Trader Joes, coffee shops, world class restaurants, retail and healthcare providers.

With 20% upside potential in rents, this property offers investors a value-add opportunity for future rent growth.

Investment Highlights

  • First time on the market in over 20 years
  • Desirable bungalow-style units with a mix of (1) 2BD/1BA, (3) 1BD/1BA, and (2) Studios
  • Excellent Santa Monica location just south of Wilshire Boulevard
  • Short walk to Wilshire Boulevard amenities including Trader Joes, Target and Walgreens
  • Close proximity to UCLA Medical Center
  • 4.3% cash-on-cash return with rents at market