1017 5th, Santa Monica, CA — listing photo 1
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FOR SALENew Listing

1017 5th

Santa Monica, CA 90403
7,496 Lot Sq Ft
Built 1958
$5,485,000

Property Overview

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 $5,485,000, the property generates a compelling 5.39% current cap rate and 13.07 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 6.69% cap rate and 11.03 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.

Home Details

Property type
Residential Income - Apartment
Year built
1958
Lot size
7,496 sq ft
Parking
13 spaces
Carport
13 spaces
Stories
2
Days on market
0
MLS status
Active

Features & Amenities

Appliances

  • Dryer
  • Washer

Parking

  • Covered
  • Tandem

Pool

  • None

Lot

  • Eleven To Fifteen Units Acre

Community, Schools & Utilities

Utilities

Water
Private
Sewer
PublicSewer
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Location & Neighborhood

1017 5th

Santa Monica, CA 90403

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Frequently Asked Questions About 1017 5th

Property type: Residential Income

The current asking price is $5,485,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 1017 5th. Our team will confirm availability and timing.
This property offers the living space reported in the listing. It was built in 1958. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Santa Monica, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Santa Monica property.
The MLS currently reports the property as Active. It has been listed for 0 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

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Crown Coastal Support Team

Direct support from our real estate team

No obligation. Your inquiry goes directly to the Crown Coastal team.

RB

Reza Barghlameno

eXp of California

Call: +1 (858) 305-4362
Email: contact@crowncoastalhomes.com

Listing Agent

Name: Cameron Samimi
MLS ID: SBSAMICAM

Available property

$5,485,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.