$1,970,000 · SANTA MONICA, CA 90405
Works for flippers · Works for landlords

Available

$1,970,000Asking price

6 bd · 6 ba · 3,008 sq ft · built 1929

SANTA MONICA, CA 90405

No contract on file

via InvestorLift Classic

4 views · listed 2 days ago

Works for flippers

Works for landlords

The Numbers

Flip

Rental

Sells for (ARV)From the listing: $2,500,000
Asking price: −$1,970,000
RepairsMiddle of our estimate, $0 – $28,000: −$14,000
Loan, holding, closing20% down, 12% interest, 2 points, 66 days: −$199,817
Profit12.6% of ARV · flippers want 10%+: $316,183
Works

Works for a flipper up to $2,032,000.

SENDFLIP LLC

Raul Zavala

No reviews yet

Comps

Sales

Rents

ARV $2,500,000

From the listing

The seller picked no comps. Investimate’s own value for this home is $3,820,000.

The sales behind this value are shown to members.

ARV $2,500,000

From the listing

The seller picked no comps.

The sales behind this value are shown to members.

SENDFLIP LLC

Raul Zavala

No reviews yet

Seller Description

2122 20th St, Santa Monica, CA 90405. Asking $1,970,000. ARV $2,500,000.

6 unit apartment property in Santa Monica, 6 bed 6 bath, 3,008 sf, 7,940 sf lot, built in 1929. Arranged in two wings of three units (A through C and D through F) with private yard areas, on site laundry, multiple storage spaces and two garages. Interiors are upgraded and each unit has its own tankless water heater. Four units are occupied. Units D and F are vacant and can be delivered vacant for an owner user or re leased at market. Subject to Santa Monica rent control.

Current gross rent, November 2026 rent roll including storage, is$2,595, $2,705, $2,637 & $1,569 = $9,505.67 per month ($114,068 per year). Seller's stated market rent for all 6 units plus storage is $16,096.67 per month ($193,160 per year). Occupied units A, B and C are at or near market. Unit E is a long term below market rent controlled tenancy. All current tenants are paying on time, with no collection issues (per seller). The 2 Vacant units can lease for $2,750 each for an additional $5,500/mo in income.

2025 operating statement, excluding property tax and debt service: total income $168,399 (rent $166,503 plus laundry $1,896), total expenses $45,515 (includes $20,584 of one time drywall repairs after winter storm leaks), NOI $122,884. Insurance is $373.98 per month ($4,488 per year), recently renewed. Landlord pays water and trash only.

At $1,970,000, GRM on current rent is 17.3x and GRM on seller's market rent is 10.2x. 2025 cap rate before property tax is 6.24% (7.28% excluding the one time repairs).

Units are upgraded. Unit B has an open floor plan, others similar. South building roof was resurfaced recently. Perimeter flashing replacement is recommended, with no active leaks (per seller). Windows in Units C and D were replaced. Garages and storage areas may allow up to 3 ADUs, subject to city approval (not verified).

Furnished interior photos are virtually staged. Buyer to verify all figures, property tax, square footage, and permits during due diligence.

Sold as is.