Property Detail
Description
An exceptional opportunity to acquire a meticulously remodeled 11-unit apartment building in one of Santa Monicas most coveted North of Wilshire locations. 1017 5th Street offers the rare combination of a true trophy-quality location, high-end renovated units and investment returns that are exceedingly difficult to find in prime Santa Monica. Offered at $5,485,000, the property generates a compelling 5.39% current cap rate and 13.07 GRM, providing investors with unusually strong in-place cash flow for an asset of this quality and location. The investment becomes even more compelling on pro forma rents, reaching approximately a 6.69% cap rate and 11.03 GRM, with roughly 19% remaining rental upside. The property has undergone extensive upgrades and features beautifully remodeled, high-end units designed to attract Santa Monicas premium renter base. This is not a heavy value-add project requiring years of construction, tenant turnover and capital expenditures. The work has largely been done, creating an exceptionally easy-to-own and easy-to-manage asset with strong income from day one.
Map Location
Listing provided courtesy of Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.. Last updated . Listing information © 2026 SANDICOR.
Angelica Wallace
Real Estate Professional
CA DRE# 01393526
10755 Scripps Poway Parkway, Suite 521
San Diego, CA 92131
(619) 772-2054
Inquire Now
CA DRE# 01393526
BROKER# 01177812
10755 Scripps Poway Parkway, Suite 521 San Diego, CA 92131
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, noncommercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2026 San Diego MLS.
© 2026 Homes With Wallace - All rights Reserved. Privacy Policy | Sitemap
Powered by: 