848 18th Street

848 18th Street Santa Monica, CA 90403 7 Units
848 18th Street

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‚Äôs 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.

Listing Advisors

Otto Ozen

Executive Vice President

(909) 235-7886
Otto@Mogharebi.com

CA Lic. #01030086

Brian Nakamura

Senior Vice President

(909) 235-7889
Brian@Mogharebi.com

CA Lic. #01953694

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