1528 10th St, Santa Monica

the successful closing of this 8 unit multifamily property situated at 1528 10th St, Santa Monica, CA 90401.

Top 3 Most Active Team in Santa Monica

With 12 apartment building closings in Santa Monica since 2019, we have earned a spot in the top 3 most active apartment agents in Santa Monica throughout all brokerages, and we are the #1 most active in Santa Monica at Marcus & Millichap (source: CoStar). In this time period, there are been about 225 total multifamily sales in Santa Monica, meaning we have over a 5% market share in the city.

See below for a list of these 12 multifamily closings in Santa Monica since 2019 that we have personally represented.

Property Overview

Comprised of all 2 bed / 1 bath units, this 6,479 square foot building was built in 1956 and it sits on a 0.17 acre lot which has access to the property from the both the street and alleyway behind. The property offers 7 on-site parking spots with 5 surface spots in the back alley and 2 more covered spots in the front, and each tenant can get a street permit parking pass. Also, there is a communal laundry room for the tenants to use. The building has been very well maintained during the 11 years of current ownership. The building was fully re-roofed in 2018, and the roof carries a 10-year guarantee. Several units have been upgraded with improvements such as new kitchen cabinets, quartz countertops, stainless steel appliances, hardwood or laminate floors and double-pane windows. The main water supply line, all horizontal water lines and some vertical lines have been replaced with copper. The property is ideally located within walking distance to the Metro Line (0.5 miles), Trader Joe's Market (0.5 miles), Third Street Promenade (0.7 miles), and the world famous Santa Monica Pier (0.9 miles), as well as an endless array of shopping, dining, and nightlife options that Santa Monica has to offer.

Deal Story

Our relationship with the seller began many years ago in 2016 when we first started talking to him about his multiple apartment buildings. After many years of consistent communication, we were able to earn this seller's trust resulting in being rewarded this listing to sell his Santa Monica property in early August 2022, nearly 7 years after our relationship began.

We hit the market on August 4th and were able to quickly expose the listing to thousands of investors and brokers within the first few days of marketing. Within a week, we were able to generate 3 signed offers from...