Description

Offered as part of a rare six-property portfolio, 2318 16th Street, Santa Monica, CA 90405 presents an outstanding opportunity to acquire a larger-scale, low-density asset with highly desirable unit sizes in one of the Westside's most sought-after coastal neighborhoods. Built in 1977 by the Seller's family, the property reflects long-term pride of ownership and offers investors the ability to establish a meaningful rental footprint in prime Sunset Park. The property consists of 15 exceptionally large units, featuring a dynamic and extremely rare unit mix comprised of 12 two bedroom/two-bath units and 3 three-bedroom/two-bath units. This concentration of larger floor plans is highly sought after in today's rental market, catering to families, roommates, and tenants seeking more space for home offices and flexible living arrangements an increasingly important driver of demand. The units offer great floor plans flooded with natural light, along with generously sized kitchens and bathrooms, creating a true residential feel that differentiates the property from more typical apartment product. The overall scale and layout of the units position the asset well for long-term tenancy and strong rent growth. With significant rental upside, a new owner has the opportunity to reposition the asset to market rents while benefiting from the property's strong existing fundamentals and highly desirable unit configurations. From a location perspective, 2318 16th Street is ideally situated in Santa Monica's coveted Sunset Park neighborhood, known for its quiet residential streets, strong community feel, and proximity to the beach and lifestyle amenities. The property is just minutes from Main Street, a vibrant destination featuring top-tier dining, boutique retail, cafes, fitness studios, and nightlife, as well as Santa Monica Beach, offering immediate access to the ocean, bike paths, and outdoor lifestyle that defines coastal living. The surrounding area provides convenient access to neighboring Westside hubs including Venice, Mar Vista, and broader Santa Monica, along with proximity to highly regarded schools such as Santa Monica High School. The combination of coastal proximity, strong demographics, and walkable lifestyle amenities continues to drive consistent tenant demand and long-term rental stability. For investors seeking scale, larger unit sizes, strong rental upside, and a premier coastal Westside location, 2318 16th Street represents a compelling and increasingly rare acquisition opportunity.