Description
We are pleased to offer the opportunity to acquire 1323 11th Street, a 10-unit partially renovated apartment community located in Santa Monica. Situated between Santa Monica Boulevard and Wilshire Boulevard, the subject property is located within walking distance to the 3rd Street Promenade and provides easy access to everyday amenities.Situated on a 7,483 square foot lot, the property consists of a single building with seven one-bedroom units and three two-bedroom units. Current ownership has extensively renovated 80% of the units, featuring new flooring throughout, modern kitchens with quartz countertops, stainless steel appliancesincluding dishwasher, stove/oven, and farmhouse-style sinkand open-concept dining and living areas. Renovated units also include updated bathrooms, contemporary vanities, spacious closets, and ample cabinet space.The two remaining legacy 1Bdr/1Bath units average $1,578/month against a market rent of $2,495, representing a $918 per-unit gap that offers meaningful upside through unit turnover and renovation.1323 11th Street provides investors a rare buying opportunity that delivers an immediate healthy income stream, with remaining rental upside in a prime coastal market.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
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13BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
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7,098SQFT
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$556$/SQFT
School Ratings & Info
Description
We are pleased to offer the opportunity to acquire 1323 11th Street, a 10-unit partially renovated apartment community located in Santa Monica. Situated between Santa Monica Boulevard and Wilshire Boulevard, the subject property is located within walking distance to the 3rd Street Promenade and provides easy access to everyday amenities.Situated on a 7,483 square foot lot, the property consists of a single building with seven one-bedroom units and three two-bedroom units. Current ownership has extensively renovated 80% of the units, featuring new flooring throughout, modern kitchens with quartz countertops, stainless steel appliancesincluding dishwasher, stove/oven, and farmhouse-style sinkand open-concept dining and living areas. Renovated units also include updated bathrooms, contemporary vanities, spacious closets, and ample cabinet space.The two remaining legacy 1Bdr/1Bath units average $1,578/month against a market rent of $2,495, representing a $918 per-unit gap that offers meaningful upside through unit turnover and renovation.1323 11th Street provides investors a rare buying opportunity that delivers an immediate healthy income stream, with remaining rental upside in a prime coastal market.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-05-19T00:28:22.46. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.