Santa Monica Income Property Report
Sold Income Units Santa Monica
Santa Monica Multifamily Sales Report: Last 6 Months of Sold Duplexes, Triplexes, Fourplexes, and 5+ Unit Income Properties
Santa Monica Multifamily Sales Report Last 6 Months
In the last 6 monhs 26 multifamily buildings have been sold in Santa Monica’s multi-unit sector. Whether you're buying, selling, or evaluating a building you own, sold comparables are the most accurate picture of what buyers are paying and where the market is heading.
Price Per Square Foot Multifamily Santa Monica
The price per square foot (PPSF) for Santa Monica apartment buildings ranged from $220 to nearly $1,900 per square foot. While that range looks wide, the true investor activity is happening between $398 and $535 per square foot. Over half of all transactions fell into this band.
The higher-end (properties trading over $800/SqFt) were mostly small, premium buildings—typically duplexes or fourplexes in top locations like Ocean Park or north of Montana. These are often bought by owner-users, not investors looking for cap rate and cash flow.
Where Most Sold Activity Happened in the Multifamily Sector in Santa Monica
Most buildings that sold ranged from 6 to 16 units, with only a few at the extremes—either under 4 units or over 20. Properties in the sweet spot of 8 to 12 units, priced around $450 to $530 per square foot, tended to sell fastest and with fewer days on market.
Days on Market – A Clear Signal on Pricing
If you’re listing a multifamily property in Santa Monica today, pricing it correctly is more important than ever.
Properties priced under $550/SqFt often sold in under 90 days
Buildings asking $800 to $1,400/SqFt sat on the market for 150 to 500+ days, unless they were fully remodeled, or in trophy locations
Several sales recorded zero days on market, indicating they were priced to move, or sold off-market due to demand
Why This Data Matters
If you’re evaluating a building in Santa Monica and trying to decide what it's worth, don’t rely on aspirational listings or general online estimates. Sold comps define value. This report provides actual closed sales—not listings still waiting for a buyer.
Active Multifamily Listings in Santa Monica, May-2025
1541 Franklin St #1 – $1,200,000 | 1,222 SqFt | Lot Size: 7,894 SF | $982.00/SqFt | 22 Days on Market
1921 20th St – $1,600,000 | 7,196 SqFt | Lot Size: Unknown | $0.00/SqFt | 80 Days on Market
711 Pier Ave – $1,779,000 | 1,558 SqFt | Lot Size: 5,492 SF | $1,141.85/SqFt | 22 Days on Market
1511 12th St – $1,795,000 | 2,248 SqFt | Lot Size: 3,748 SF | $798.49/SqFt | 102 Days on Market
1925 Euclid St – $1,795,000 | 4,482 SqFt | Lot Size: 7,517 SF | $400.49/SqFt | 39 Days on Market
2328 Ocean Park Blvd – $1,799,000 | 2,424 SqFt | Lot Size: 6,981 SF | $742.16/SqFt | 35 Days on Market
1423 Cloverfield Blvd – $1,800,000 | 2,459 SqFt | Lot Size: 2,896 SF | $732.00/SqFt | 58 Days on Market
1921 19th St – $1,849,999 | 4,628 SqFt | Lot Size: 7,998 SF | $399.74/SqFt | 85 Days on Market
2436 20th St – $1,899,000 | 1,691 SqFt | Lot Size: 7,164 SF | $1,123.00/SqFt | 127 Days on Market
1538 16th St – $1,990,000 | 7,521 SqFt | Lot Size: Unknown | $0.00/SqFt | 151 Days on Market
1511 12th St #1 – $1,995,000 | 3,200 SqFt | Lot Size: 3,752 SF | $623.44/SqFt | 102 Days on Market
1246 Chelsea Ave – $2,000,000 | 2,566 SqFt | Lot Size: 5,330 SF | $779.42/SqFt | 51 Days on Market
709 Ocean Park Blvd – $2,100,000 | 1,296 SqFt | Lot Size: 5,520 SF | $1,620.37/SqFt | 11 Days on Market
2517 20th St – $2,250,000 | 3,219 SqFt | Lot Size: 6,766 SF | $698.97/SqFt | 109 Days on Market
2007 21st St – $2,250,000 | 4,631 SqFt | Lot Size: 7,255 SF | $485.86/SqFt | 2 Days on Market
1937 17th St – $2,295,000 | 4,840 SqFt | Lot Size: 7,748 SF | $474.17/SqFt | 380 Days on Market
1453 Centinela Ave – $2,300,000 | 3,123 SqFt | Lot Size: 7,568 SF | $736.47/SqFt | 37 Days on Market
2302 32nd St #A – $2,380,000 | 3,492 SqFt | Lot Size: 9,006 SF | $681.56/SqFt | 24 Days on Market
828 Hill St – $2,395,000 | 1,796 SqFt | Lot Size: 6,051 SF | $1,333.52/SqFt | 106 Days on Market
1107 Ocean Park Blvd – $2,400,000 | 4,364 SqFt | Lot Size: 7,261 SF | $692.84/SqFt | 140 Days on Market
1430 Franklin St #A – $2,450,000 | 3,486 SqFt | Lot Size: 7,805 SF | $702.81/SqFt | 127 Days on Market
2004 Oak St – $2,650,000 | 2,818 SqFt | Lot Size: 7,011 SF | $940.38/SqFt | 232 Days on Market
1332 10th St – $2,675,000 | 4,454 SqFt | Lot Size: 7,513 SF | $600.58/SqFt | 64 Days on Market
2428 Kansas Ave – $2,679,500 | 5,678 SqFt | Lot Size: 11,800 SF | $471.91/SqFt | 202 Days on Market
443 Bay St – $2,700,000 | 5,532 SqFt | Lot Size: 5,752 SF | $488.07/SqFt | 50 Days on Market
1047 Ocean Park Blvd – $2,775,000 | 5,296 SqFt | Lot Size: 6,619 SF | $523.98/SqFt | 101 Days on Market
3017 Colorado Ave – $2,799,000 | SqFt not listed | Lot Size: 6,948 SF | Price/SqFt not listed | 46 Days on Market
1824 10th St – $2,800,000 | 3,225 SqFt | Lot Size: 7,498 SF | $868.22/SqFt | 36 Days on Market
1807 Oak St – $2,950,000 | 4,607 SqFt | Lot Size: 7,079 SF | $640.33/SqFt | 97 Days on Market
2002 Montana Ave – $3,095,000 | 4,528 SqFt | Lot Size: 8,003 SF | $683.52/SqFt | 241 Days on Market
1411 Cloverfield Blvd – $3,095,000 | 4,098 SqFt | Lot Size: 3,700 SF | $755.25/SqFt | 72 Days on Market
649 Ocean Park Blvd – $3,100,000 | 5,262 SqFt | Lot Size: 8,083 SF | $589.13/SqFt | 389 Days on Market
1226 Chelsea Ave – $3,175,000 | 3,038 SqFt | Lot Size: 7,090 SF | $1,045.10/SqFt | 79 Days on Market
2807 Highland Ave – $3,500,000 | 6,180 SqFt | Lot Size: 7,054 SF | $566.34/SqFt | 37 Days on Market
1310 10th St – $3,599,000 | 6,516 SqFt | Lot Size: 7,512 SF | $552.33/SqFt | 46 Days on Market
1518 10th St – $3,750,000 | 10,080 SqFt | Lot Size: 7,490 SF | $372.02/SqFt | 2 Days on Market
402 Pacific St – $3,795,000 | 4,500 SqFt | Lot Size: 5,357 SF | $843.33/SqFt | 71 Days on Market
1423 Euclid St – $3,850,000 | 12,159 SqFt | Lot Size: 7,513 SF | $316.64/SqFt | 17 Days on Market
943 19th St – $4,000,000 | 7,180 SqFt | Lot Size: 7,995 SF | $557.10/SqFt | 14 Days on Market
2512 Kansas Ave – $4,079,500 | 9,052 SqFt | Lot Size: 12,379 SF | $450.67/SqFt | 8 Days on Market
1323 11th St – $4,300,000 | 7,098 SqFt | Lot Size: 7,485 SF | $605.80/SqFt | 21 Days on Market
827 12th St – $4,490,000 | 6,746 SqFt | Lot Size: 7,484 SF | $665.58/SqFt | 73 Days on Market
836–844 Cedar St – $4,500,000 | 7,539 SqFt | Lot Size: 12,916 SF | $596.90/SqFt | 2 Days on Market
1147 Lincoln Blvd – $4,695,000 | 10,400 SqFt | Lot Size: 7,479 SF | $451.44/SqFt | 52 Days on Market
2626 Cloverfield Blvd – $4,995,000 | 5,948 SqFt | Lot Size: 6,046 SF | $839.78/SqFt | 71 Days on Market
815 3rd St – $6,295,000 | 4,894 SqFt | Lot Size: 7,524 SF | $1,286.27/SqFt | 85 Days on Market
537 San Vicente Blvd – $18,950,000 | 40,412 SqFt | Lot Size: 22,157 SF | $468.92/SqFt | 236 Days on Market
Sellers: If you're pricing above $700/SqFt, make sure you're backing that up with location, unit mix, and clear upside. Otherwise, expect a long wait or a lowball.
Buyers: There's opportunity in properties lingering over 90 days — especially those priced over $650/SqFt. Use that leverage to negotiate.
Santa Monica’s multifamily sector currently shows significantly more active listings than sold properties—an indicator that deals can be made for motivated buyers. However, strict rent control policies and layers of regulation are impacting buyer confidence.
Why Pricing a Multifamily Property Takes More Than Just Looking at Comps
While sold comps provide a helpful benchmark, no two multifamily properties are exactly alike. Accurate pricing depends on a wide range of factors — from location, zoning, and building condition to lot size, square footage, rental income, and unit mix. Proximity to top-rated schools and major employment hubs like UCLA, St. John’s Hospital, Universal Music, Hulu, and Snapchat also plays a critical role in determining value in Santa Monica’s competitive multifamily market.
In-unit laundry, dishwashers, updated interiors, separate utility meters, and completed retrofitting can significantly impact value. Who pays for what? Are there on-site amenities? These details matter.
Contact Us
That’s why a professional opinion is critical. As multifamily specialists, we ask the right questions, analyze the fine points, and help you price your property strategically. The market sets the final number, but starting with the right price makes all the difference in securing a strong return.
If you own a duplex, triplex, fourplex, or 5+ unit building in Santa Monica and want to know what it’s truly worth, I’d be happy to sit down with you for a complimentary, detailed evaluation. No pressure—just honest insight to help you make the right decision. If you’d like more information on any active listings or specific properties, feel free to reach out; we’re here to help.