1047 9th Street Santa Monica, CA
Owner-User Opportunity in Wilshire Montana: Live, Earn, and Grow with Mills Act Tax Benefits
Marketing description
Live in the heart of Santa Monica's coveted Wilshire Montana neighborhood while generating income from your own property. 1047 9th Street offers a rare owner-user opportunity to occupy one of three beautifully updated bungalows, each with private outdoor space, in-unit laundry, and dedicated parking with EV charging. Enjoy a walkable, Santa Monica lifestyle just steps from the iconic Montana Avenue's premier shopping, dining, and fitness, and a short stroll to the beach, an ideal blend of comfort, charm, and everyday convenience in one of Santa Monica's most desirable neighborhoods. Beyond the lifestyle appeal, this Mills Act-designated property provides significant property tax savings, enhancing cash flow and long-term financial performance. The three-unit compound is well-positioned for strong rental demand and low vacancy, with additional upside through the potential to add one to two two-bedroom units, projecting up to $120,000 in additional annual income. Combining historic character with modern amenities and future development potential, this is a unique opportunity to own a tax-advantaged, income-producing asset with both immediate returns and long-term growth. Drive-by only. Interior access provided with accepted offer. Please do not disturb tenants. Disclaimer: Images have been virtually staged.
Investment highlights
Mills Act Property – Significant property tax savings that directly increase net operating income.
Turnkey Investment – Three fully updated bungalows on one lot, each with:
Private outdoor space
In-unit laundry
Two parking spaces with EV charging
Prime Location – Coveted Wilshire Montana neighborhood with an A+ walkability score.
Steps from Montana Avenue’s shops, dining, fitness studios
Short stroll to the beach
Tenant Appeal & Stability – Blend of modern amenities and historic charm ensures low vacancy rates.
Premium Rental Potential – Lifestyle-driven demand commands strong rents.
Value-Add Opportunity – Entitlements allow for addition of 1–2 two-bedroom units.
Projected rental upside of up to $120,000 annually.
Historic Character Preserved – Unique charm maintained while increasing returns.
Long-Term Growth – Rare chance to acquire a cash-flowing, tax-advantaged asset in one of Santa Monica’s most desirable neighborhoods.
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