1017 5th St Santa Monica, CA 90403
Wilshire Montana NeighborhoodEstimated payment $33,367/month
Highlights
- Golf Course Community
- No HOA
- Dog Park
- Roosevelt Elementary School Rated A+
- Bike Trail
- 4-minute walk to Santa Monica Mountains National Recreation Area Visitor Center
About This Home
An exceptional opportunity to acquire a meticulously remodeled 11-unit apartment building in one of Santa Monica’s 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 Monica’s 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.
Listing Agent
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-259-7556 License #02035763 Listed on: 09/04/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1958
Lot Details
- 7,496 Sq Ft Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 7,494 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 12 Bedrooms
- 11 Full Bathrooms
Laundry
- Laundry on upper level
- Laundry in Garage
- Laundry Located Outside
- Laundry in Kitchen
- Dryer
- Washer
Parking
- 13 Parking Spaces
- 13 Carport Spaces
- Parking Available
- Tandem Covered Parking
Additional Features
- Suburban Location
- Private Water Source
Listing and Financial Details
- Legal Lot and Block U / 71
- Assessor Parcel Number 4292011018
- $2,172 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 11 Units
Amenities
- Laundry Facilities
Recreation
- Golf Course Community
- Dog Park
- Bike Trail
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $3,000
- Insurance Expense $4,855
- Professional Management Expense $20,987
- Trash Expense $3,000
- Water Sewer Expense $3,126
- New Taxes Expense $68,563
- Operating Expense $111,630
- Gross Income $407,144
- Net Operating Income $295,514
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $37,232 | $4,131,000 | $3,304,800 | $826,200 |
| 2025 | $37,232 | $2,912,504 | $1,962,267 | $950,237 |
| 2024 | $11,200 | $792,162 | $361,550 | $430,612 |
| 2023 | $11,033 | $776,630 | $354,461 | $422,169 |
| 2022 | $10,885 | $761,403 | $347,511 | $413,892 |
| 2021 | $10,568 | $746,475 | $340,698 | $405,777 |
| 2019 | $10,388 | $727,617 | $330,594 | $397,023 |
| 2018 | $9,734 | $713,415 | $324,112 | $389,303 |
| 2016 | $9,256 | $682,561 | $311,527 | $371,034 |
| 2015 | $9,141 | $672,309 | $306,848 | $365,461 |
| 2014 | $9,103 | $659,141 | $300,838 | $358,303 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/04/2026 09/04/26 | For Sale | $5,485,000 | 0.0% | $732 / Sq Ft |
| 06/04/2026 06/04/26 | Off Market | $3,250 | -- | -- |
| 04/14/2026 04/14/26 | Price Changed | $3,250 | -0.8% | $4 / Sq Ft |
| 01/27/2026 01/27/26 | Price Changed | $3,275 | +27.2% | $4 / Sq Ft |
| 12/08/2025 12/08/25 | Price Changed | $2,575 | -20.8% | $3 / Sq Ft |
| 11/20/2025 11/20/25 | For Rent | $3,250 | -- | -- |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $4,050,000 | Old Republic Title | |
| Grant Deed | -- | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $3,235,000 | Construction |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB26194031
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
- 1024 5th St Unit 3
- 1024 5th St Unit 6
- 1040 4th St Unit 405
- 1040 4th St Unit 107
- 1040 4th St Unit 106
- 1040 4th St Unit 203
- 1018 4th St Unit 203
- 1018 4th St Unit 103
- 511 Washington Ave
- 1127 5th St
- 1133 5th St Unit 204
- 1041 2nd St Unit 5
- 940 7th St Unit 8
- 522 - 532 Idaho Ave
- 630 Idaho Ave Unit 204
- 222 Idaho Ave
- 917 2nd St Unit 205
- 101 California Ave Unit 802
- 101 California Ave Unit 1404
- 101 California Ave Unit 1104
- 1038 5th St
- 507 California Ave
- 1028 4th St
- 948 15th St Unit 1
- 1015 3rd St
- 947 4th St Unit C
- 947 5th St Unit B
- 1019 6th St Unit 8
- 938 4th St
- 1117 3rd St
- 1008 7th St Unit 5
- 937 3rd St
- 914 5th St Unit C
- 1137 6th St
- 911 5th St
- 911 5th St Unit 202
- 933 6th St Unit 9
- 933 6th St Unit 2
- 1147 6th St
- 204 Washington Ave Unit SI FL2-ID114
Ask me questions while you tour the home.