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1015 3rd St
Santa Monica, CA 90403 Wilshire Montana

$29,950,000 USD

Apartments For Sale • 18,443 SF

Property Details

Property Type Apartments
Total Building Size 38,871 SF
Lot Size 0.78 AC
Building Class C
Year Built 1954
Cap Rate 4.23 %
Zoning R4

71 Transit Score

83 Walk Score

                
                    Highlights
                
                                Generational opportunity to acquire two trophy multifamily assets totaling 46 units in a prestigious "North of Wilshire" Santa Monica location
                            
                                Both properties extensively renovated with luxury finishes and systems:new plumbing, new electrical, split system AC, fireplaces, in-unit washer/dryer
                            
                                Exceptional unit mix of 1-, 2-, and 3-bedroom floor plans, all designed to maximize natural light
                            
                                Prime location steps from the Pacific Ocean, Montana Avenue, and Santa Monica’s finest dining, retail, and cultural amenities
                            
                                Opportunity to establish a dominant rental footprint in one of the most supply-constrained and prestigious rental markets in Los Angeles
                            
                                Irreplaceable coastal real estate with high barriers to entry and limited future multifamily development potential

Financial Summary (Proforma)

Net Operating Income: $1,267,478 USD (2025)

Cap Rate:	4.23 %
Total Expenses:	$571,454 USD

Major Tenants

Tenant	SF Occupied	Lease End Date
Freehling Zachary J@3

Amenities

24 Hour Access
Air Conditioning
Fireplace
Laundry Facilities
Washer/Dryer
Heating
Walking/Biking Trails
Kitchen
Oven
Stainless Steel Appliances
Range
Tub/Shower
Storage Space
Public Transportation
Walk-Up

Public Transportation

Transit/Subway	Drive	Walk	Distance
Downtown Santa Monica (Expo Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	15 min	0.8 mi
Airport	Drive	Walk	Distance
Los Angeles International	19 min	-	9.5 mi
Bob Hope	35 min	-	23.3 mi
Long Beach (Daugherty Field)	39 min	-	29.7 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	45
Type:	Covered
Included in Rent:	Yes

Jonathan Taksa 310-968-5303 RE/MAX Commercial & Investment Realty

1015 3rd St Santa Monica, CA 90403 Wilshire Montana