1837 18th Street, Santa Monica, CA 90404 (MLS # 25580261)
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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.
| DAYS ON MARKET | 21 | LAST UPDATED | 8/27/2025 |
|---|---|---|---|
| YEAR BUILT | 1990 | COMMUNITY | C14 - Santa Monica |
| GARAGE SPACES | 3.0 | COUNTY | Los Angeles |
| STATUS | Conditional | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Microwave, Refrigerator, Washer/Dryer Stacked |
| AREA | C14 - Santa Monica |
| CONSTRUCTION | Stucco |
| GARAGE | Yes |
| HEAT | Central |
| LOT | 8006 sq ft |
| PARKING | Underground, Garage |
| POOL DESCRIPTION | None |
| STORIES | Two, Multi/Split |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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