1224 9th St

Description

1224 9th Street is a 10-unit multifamily investment opportunity in prime Downtown Santa Monica, just blocks from the Third Street Promenade, Santa Monica Place, and the Metro E Line station at Downtown Santa Monica. The property consists of ten spacious 1-bedroom/1-bath units in a 1957-built building totaling 6,380 square feet on a 7,493 square foot lot zoned SMR3. The asset is 90% occupied with significant upside potential as rents are brought to market over time. Santa Monica remains one of the most supply-constrained and desirable rental markets on the Westside, with world-class amenities, beach proximity, and exceptional walkability scores driving consistent tenant demand. The property offers investors stable in-place income with clear value-add opportunity through rent increases upon turnover in this high-barrier coastal submarket.