927 3rd St, Santa Monica, CA 90403
927 3rd St, Santa Monica, CA 90403
927 3rd St, Santa Monica, CA 90403
21
See all 21 photos
$6,025,000
Est. payment /mo
Save
22 Beds
23 Baths
15,582 SqFt
New

927 3rd St Santa Monica, CA 90403

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Chance Vanek

Chance Vanek

+1(702) 305-3777

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 15,582 sqft

Price per Sqft $386

MLS Listing ID 26992555

Bedrooms 22

Year Built 1956

Lot Size 0.344 Acres

Acres 0.1724

Property Sub-Type Multi-Family

Property Description

927 & 933 3rd Street is a 20-unit multifamily investment offering assembled across two adjacent parcels in Santa Monica's Wilshire Montana district three blocks from the beach and within a short walk of both Montana Avenue and the Third Street Promenade. The two 1956-vintage buildings are held and operated as a single asset, and are offered together.The unit mix is six two-bedroom units, ten one-bedroom units and four studios across 15,582 net rentable square feet on a combined 14,999 square foot lot.Scale of this kind is unusual in the submarket: of the eight most recent apartment sales in the immediate area, only one exceeded 15 units, and none offered a two-parcel assemblage.The defining characteristic of the offering is the spread between in-place and market rents. Current scheduled income is $464,067 against a projected market of $651,048 a 40.3% gap that translates into 64.3% net operating income growth as units turn. At the list price the asset trades at a 4.68% cap rate on in-place income and 7.69% on stabilized market income, with the difference representing the value a buyer underwrites and pays for.

Location

State CA

County Los Angeles

Area Santa Monica

Zoning SMR3*

Rooms

Other Rooms None

Interior

Heating Wall

Cooling None

Equipment Refrigerator, Range/Oven, Microwave

Exterior

Parking Features Garage Is Attached, Tandem

Garage Spaces 20.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Miller & Desatnik Realty Co.

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Chance Vanek

Chance Vanek

Agent RE.S.0066702

+1(702) 305-3777

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Chance Vanek, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

927 3rd St