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911 Lincoln Boulevard

911 Lincoln Boulevard,Santa Monica, CA 90403

1958

Year Build

$5,600,000

Price

Property Details

Current Cap Rate

Market Cap

Current GRM

Market GRM

25907 Oak Street

25907 Oak Street | Lomita, CA 90717

$10,750,000

Price per Unit

Property Details

Tyler Leeson

$10,750,000

Building Size

23,312 SF

Number Of Units

23

Cap Rate

3.69%

Total Lot Size

23,312 SF

Year Built

23

Number Of Units

23

Year Built

23

Description

Stepp Commercial presents 911 Lincoln Boulevard, located north of Wilshire Boulevard in prime Santa Monica, only one block south of prestigious Montana Avenue. Tenants can enjoy close proximity to Santa Monica beaches, as well as shopping, dining and nightlife on Third Street Promenade and Main Street.

The desirable unit mix consists of (2) two-bedroom/one-bathroom and (8) one-bedroom/one-bathroom units. Some units offer private garage parking and have been updated with stainless steel appliances, quartz countertops and custom cabinetry. All units have spacious floorplans, dishwashers and lots of natural light.

With 22% upside potential in rents, this property offers investors a value-add opportunity for future rent growth.

Highlights

  • Located north of Wilshire Boulevard in prime Santa Monica
  • One block south of prestigious Montana Avenue
  • ±22% upside potential in rental income
  • 3.5% cap rate with current rents; 4.9% cap rate with rents at market
  • Priced at only 17.84 x current rents; 14.2 x market rents
  • ±6.7% cash-on-cash return with rents at market and 3.8% cash-on-cash
    return with current rents

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