Multifamily
210 California Ave
210 California Ave, Santa Monica, CA 90401
Listing Price: $5,650,000
Cap Rate
7.51%
Number of Units
11
GRM
8.90
Price/Unit
$513,636
Price/Gross SF
$604.54
Gross SF
9,346
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 210 California Ave, an 11-unit investment opportunity located in the highly desirable 90403 zip code of Santa Monica.
210 California Ave
Investment Highlights
- IDEAL OWNER-USER OPPORTUNITY - Rare ability for an investor or operator to secure a flagship coastal asset with immediate repositioning or long-term hold potential.
- PREMIER A+++ CORNER LOCATION ONE BLOCK FROM OCEAN AVENUE
- Santa Monica's high-income demographics, mature rental base, and strict development constraints create long-term value preservation and strong upside for newly renovated or newly built product.
- PRIME COASTAL REDEVELOPMENT & VALUE-ADD OPPORTUNITY - 210 California Ave presents an exceptionally rare chance to acquire a 100% vacant multifamily asset in one of the most supply-constrained coastal submarkets in Los Angeles. Delivered fully vacated through the Ellis Act in 2019, the property allows an investor to immediately commence renovation, reconfiguration, or ground-up redevelopment—an option seldom available this close to the beach.
- COMPLETELY VACANT COASTAL ASSET - A true blank-slate opportunity, this fully vacated building offers unmatched execution flexibility. With no current leases in place, investors may immediately proceed with construction, premium renovations, or entitlement planning. Pursuant to the Ellis Act, original displaced tenants must be offered the first right to re-rent upon completion at prevailing market rents, providing a clearly defined re-occupancy framework while preserving full upside potential.
- FLEXIBLE VALUE-ADD OR REDEVELOPMENT PLAY - The existing 11-unit building, constructed in 1962 and featuring six 2BD/2BA units, four 1BD/1BA units, and one studio, offers multiple execution paths—ranging from a modernized value-add renovation to a complete redevelopment—while Santa Monica's 2024 pro-housing designation further streamlines entitlements and increases the likelihood of accelerated approvals and enhanced funding opportunities for qualifying projects.
- Trophy coastal positioning with exceptional visibility, superior frontage, immediate beach access, and direct proximity to Santa Monica's most iconic oceanfront corridor and lifestyle amenities.
Exclusively Listed By
Listing Price: $5,650,000
Cap Rate
7.51%
Number of Units
11
GRM
8.90
Price/Unit
$513,636
Price/Gross SF
$604.54
Gross SF
9,346
Investment Highlights
- IDEAL OWNER-USER OPPORTUNITY - Rare ability for an investor or operator to secure a flagship coastal asset with immediate repositioning or long-term hold potential.
- PREMIER A+++ CORNER LOCATION ONE BLOCK FROM OCEAN AVENUE
- Santa Monica's high-income demographics, mature rental base, and strict development constraints create long-term value preservation and strong upside for newly renovated or newly built product.
- PRIME COASTAL REDEVELOPMENT & VALUE-ADD OPPORTUNITY - 210 California Ave presents an exceptionally rare chance to acquire a 100% vacant multifamily asset in one of the most supply-constrained coastal submarkets in Los Angeles. Delivered fully vacated through the Ellis Act in 2019, the property allows an investor to immediately commence renovation, reconfiguration, or ground-up redevelopment—an option seldom available this close to the beach.
- COMPLETELY VACANT COASTAL ASSET - A true blank-slate opportunity, this fully vacated building offers unmatched execution flexibility. With no current leases in place, investors may immediately proceed with construction, premium renovations, or entitlement planning. Pursuant to the Ellis Act, original displaced tenants must be offered the first right to re-rent upon completion at prevailing market rents, providing a clearly defined re-occupancy framework while preserving full upside potential.
- FLEXIBLE VALUE-ADD OR REDEVELOPMENT PLAY - The existing 11-unit building, constructed in 1962 and featuring six 2BD/2BA units, four 1BD/1BA units, and one studio, offers multiple execution paths—ranging from a modernized value-add renovation to a complete redevelopment—while Santa Monica's 2024 pro-housing designation further streamlines entitlements and increases the likelihood of accelerated approvals and enhanced funding opportunities for qualifying projects.
- Trophy coastal positioning with exceptional visibility, superior frontage, immediate beach access, and direct proximity to Santa Monica's most iconic oceanfront corridor and lifestyle amenities.
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 210 California Ave, an 11-unit investment opportunity located in the highly desirable 90403 zip code of Santa Monica.
Exclusively Listed By
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