522 Idaho Avenue, Santa Monica, CA 90403
Local realty services provided by:ERA North Orange County Real Estate
Listed by: james keady
Office: cb richard ellis, inc.
MLS#:25575611
Source:CRMLS
Price summary
- Price:$2,700,000
- Price per sq. ft.:$803.57
About this home
PRIVATE PROPERTY. TOURS BY APPOINTMENT ONLY. DO NOT DISTURB TENANTS. 522 - 532 Idaho Avenue is a boutique six-unit multifamily investment opportunity located in the heart of Santa Monica's coveted Wilshire-Montana neighborhood. Just one block south of Montana Avenue and six blocks from Palisades Park and Santa Monica Beach, this property offers a rare combination of location, charm, and long-term upside in one of Southern California's most desirable coastal submarkets. Built in 1922, and with major renovations completed in 2025, the property features six 1-bedroom, 1-bathroom bungalow-style units across three separate structures, totaling approximately 3,360 SF of rentable space on a 7,480 SF corner lot. Zoned SMR2, the site benefits from legal non-conforming density and will be delivered with two vacant units, allowing for immediate value-add execution. Current rents are below market, with an estimated 22% rental upside. Offered at $2,700,000, the asset reflects a 4.50% cap rate on current income and a 5.80% cap rate on pro-forma rents. The projected market GRM is 11.89, compared to the current 14.01, highlighting the opportunity for income growth through renovations and lease-up. Recent upgrades include modernized kitchens and bathrooms, new flooring, in-unit washer/dryers, and custom closets. Exterior improvements include new landscaping, fencing, irrigation, and paint, enhancing curb appeal and tenant experience. Located within walking distance to Montana Avenue, Downtown Santa Monica, Santa Monica Beach and Pier, and major employers, with easy access to PCH and I-10, this property benefits from proximity to natural attractions and lifestyle amenities that consistently drive tenant demand in 90403....
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Home facts
- Year built:1922
- Listing ID #:25575611
- Added:232 day(s) ago
- Updated:March 28, 2026 at 01:23 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:6
- Kitchen Description:Dishwasher, Refrigerator, Washer
- Living area:3,360 sq. ft.
Heating and cooling
- Heating:Wall Furnace
Structure and exterior
- Year built:1922
- Building area:3,360 sq. ft.
- Lot area:0.17 Acres
- Architectural Style:Bungalow
- Levels:1 Story
Finances and disclosures
- Price:$2,700,000
- Price per sq. ft.:$803.57
Features and amenities
- Appliances:Dishwasher, Disposal, Dryer, Refrigerator, Washer
- Laundry features:Dryer, Washer
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