The Mogharebi Group | Multifamily Investment Advisory

Property Summary

Price	$4,895,000
Units	7
Year Built	1962
Rentable SF	9,150

Investment Highlights

Potential to add on two ADUs to maximize revenue
Fully occupied with upside rent potential
Partially renovated property with proven value-add opportunity
All two-bedroom units with spacious floorplans ranging from 1,250 to 1,450 square feet
Upgraded units feature quartz countertops, stainless steel appliances, and in-unit laundry
Units include private patios/balconies and one designated parking space
Located less than one block from Montana Avenue, Santa Monica’s premier retail corridor with 150+ restaurants and shops

Property Description

The Mogharebi Group is pleased to present the opportunity to acquire 848 18th Street, a seven-unit multifamily property located in the city of Santa Monica, California. Built in 1962, the property comprises two levels of apartments in all two-bedroom floorplans ranging from 1,250 to 1,450 square feet. To date, two units have been fully renovated and one partially renovated, with features such as quartz countertops, vinyl plank flooring, stainless steel appliances, and in-unit washer and dryers. 848 18th Street offers upside rent potential as well as the opportunity to add value through renovations to the remaining four original units. The three upgraded units are commanding an average $300/month rental premium. Furthermore, there are plans to add two ADUs to increase revenue by $9,000+ monthly.

848 18th Street
Santa Monica, CA 90403

848 18th is well located and convenient to award winning school districts, dozens of restaurants and shops, and in proximity to Santa Monica Beach and Pier. The property also enjoys easy access to Montana Avenue and Santa Monica Boulevard, which connects residents to the education, retail, entertainment, dining, and employment centers found throughout Santa Monica and the entire Los Angeles region.