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34286844
34286843

2648-2662 23rd Street, Santa Monica, CA 90405

FL
CA 00827267
Lambert Investments, Inc
CL
CA CA 00860625
Lambert Investments, Inc
Listed by Lambert Investments, Inc
$3,200,000
3 days on market
Updated 3 days ago

2648-2662 23rd Street

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,294
Units 8
Cap Rate 5.50%
NOI $177,533
Price per SqFt $508
Year Built 1949
Buildings 1
Lot Size (SqFt) 9,283
Zoning SMR 2
Parking Spaces 7 spaces
Parking per 1,000 SqFt 1.11

Multifamily | 8 Units | $400,000/unit

Marketing description

Beautiful Mid Century Modern 8-unit multifamily property in Santa Monica's happening Sunset Park neighborhood on a large 9,283 square foot corner lot. Consists of four 2-bedroom/1-bath units and four 1-bedroom/1-bath units, with six 1-car garages and one carport. Built in 1949, approximately 6,294 square feet of building area. Individually metered, installed gas shutoff valves, and does not require seismic retrofitting. Each unit has its own water heater, back door, generous floor plans, and ample closet space. Property improvements include a brand-new roof and gutters, copper plumbing, a waterproof deck over the garages, and beautifully designed landscaping with irrigation, timer, enclosed by a redwood perimeter fence with two gates. Seven of the eight units have been upgraded including SPC flooring, faux wood blinds, kitchen cabinets, new countertops, and gas stoves.

Sunset Park is happening with a strong rental demand, neighborhood shops and restaurants, nearby employment hubs, and proximity to Silicon Beach. The property is close to Santa Monica College, Bergamot Station, the Metro, Santa Monica's office parks, and the broader Westside employment corridor. Santa Monica remains one of Southern California's most desirable coastal rental markets, known for its lifestyle, beaches, restaurants, shopping, entertainment, schools, and access to major technology and media employers. Nearby communities include Venice Beach, Marina del Rey, Playa Vista, Brentwood, Westwood, Pacific Palisades, and West Los Angeles. Drive by only. Do not disturb tenants.

Investment highlights

  • Large 9,283 square foot corner lot
  • Brand-new roof and gutters
  • Copper plumbing
  • Individually metered
  • Gas shutoff valves installed
  • No required seismic retrofitting
  • Seven of eight units upgraded
  • Potential ADU opportunity; buyer to conduct independent investigation

Listing Contacts

FL
CA 00827267
Lambert Investments, Inc
CL
CA CA 00860625
Lambert Investments, Inc
Listed by Lambert Investments, Inc

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$177,533.00
$14,794.42/mo

Valuation Metrics

0
DSCR
5.55%
Cap Rate
5.55%
ROI

Map

Zoning

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R2 ResidentialMulti FamilyLow Density Residential
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Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Francyne Lambert
License
00827267
Brokerage
Lambert Investments, Inc.
Name
Carl Lambert
License
CA 00860625
Brokerage
Lambert Investments, Inc.
Brokerage Phone
3106636030
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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