New
$5,199,000
12 bd · 11 ba · · 7,497 sqft lot
1017 5th St, Santa Monica, CA 90403
Multi-family · Built 1958 ·
$31,842/mo est. payment
Flood factor 1/10
About this home
An exceptional opportunity to acquire a meticulously remodeled 11-unit apartment building in one of Santa Monica's most coveted North of Wilshire locations. 1017 5th Street offers the rare combination of a true trophy-quality location, high-end renovated units and investment returns that are exceedingly difficult to find in prime Santa Monica. Offered at $5,199,000, the property generates a compelling 5.75% current cap rate and 12.39 GRM, providing investors with unusually strong in-place cash flow for an asset of this quality and location. The investment becomes even more compelling on pro forma rents, reaching approximately a 7.13% cap rate and 12.39 GRM, with roughly 19% remaining rental upside. The property has undergone extensive upgrades and features beautifully remodeled, high-end units designed to attract Santa Monica's premium renter base. This is not a heavy value-add project requiring years of construction, tenant turnover and capital expenditures. The work has largely been done, creating an exceptionally easy-to-own and easy-to-manage asset with strong income from day one.
Facts and features
Bedrooms
- Bedrooms: 12
Bathrooms
- Total Bathrooms: 11
- Full Bathrooms: 11
Appliances
- Laundry Features: In Garage, In Kitchen, Community, Upper Level, Outside, Washer Included, Dryer Included
Land Info
- Additional Parcels: No
- Land Lease: No
- Lot Description: 11-15 Units/Acre
- Lot Size Acres: 0.1721
- Lot Size Source: Assessor
- Lot Size Square Feet: 7496
Garage and Parking
- Carport Spaces: 13
- Parking Features: Covered, Tandem Covered
- Parking Total: 13
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
- Gardener Expense: 3000
Multi-Unit Info
- Number of Buildings: 1
- Number of Units: 11
- Bedrooms in Unit-1: 2
- Bedrooms in Unit-2: 0
- Bedrooms in Unit-3: 2
- Bedrooms in Unit-4: 1
- Bedrooms in Unit-5: 1
- Bedrooms in Unit-6: 1
Rental Info
- Gross Income: 407144
- Gross Scheduled Income: 419736
- Tenant Pays: Gas, Electricity
- Vacancy Allowance: 12592
- Rent Control: Yes
Schools
- 9
Roosevelt Elementary School
elementary · K-5 · 0.4 mi
- 8
Lincoln Middle School
middle · 6-8 · 0.7 mi
- 9
Santa Monica High School
high · 9-12 · 1.1 mi
St. Monica Catholic Elementary School
elementary · K-8 · 0.1 mi
Saint Monica Preparatory
high · 9-12 · 0.2 mi
Delphi Academy of Santa Monica
elementary · K-6 · 0.3 mi
Price history
- Oct 13, 2026 · Price Changed$5,199,000
- Sep 4, 2026 · Listed$5,485,000
- Aug 29, 2025 · Listing Removed—
- Aug 21, 2025 · Listed For Rent$2,599
- Feb 14, 2025 · Sold$4,050,000
- Feb 7, 2025 · Listing Removed—
- Apr 12, 2024 · Listing Removed—
- Apr 11, 2024 · Listed$4,995,000
Tax history
- 2025$37,231 tax · $4,131,000 assessed
- 2024$11,199 tax · $2,912,504 assessed
- 2023$11,032 tax · $776,630 assessed
- 2022$10,884 tax · $761,403 assessed
- 2021$10,567 tax · $746,475 assessed
- 2020$10,493 tax · $738,822 assessed
- 2019$10,388 tax · $724,337 assessed
- 2018$9,733 tax · $710,135 assessed
Home value
$1,850,000
- Collateral Analytics$1,850,000
- Quantarium$3,805,302
Where it is
Listed by Cameron Samimi · Lyon Stahl Investment Re, Inc. · CRMLS
