1217 9th Street, Santa Monica, California 90401

LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach.” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203, 500. Pro-Forma, with slight improvements to each unit, is $309, 600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.