$4,075,000
Santa Monica, CA 90403
1956
Year Built
Los Angeles
County
Apartment
Property Type
The Fifth & Montana is a 10-unit multifamily property located at 848 5th Street in Santa Monica's Wilshire-Montana neighborhood, approximately one block south of Montana Avenue. The property offers strong in-place income, 12 parking spaces for 10 units, and approximately 21.41% rental upside. Current NOI is estimated at approximately $225,450, with a 5.53% current cap rate. At market rents, projected NOI is approximately $294,231 with a projected 7.22% market cap rate. Built in 1956 and 1964, the two-building property comprises approximately 7,192 square feet on an approximately 7,492-square-foot lot. The unit mix includes three studios, six one-bedroom units, and a townhome-style three-bedroom, three-bath front residence. The three-bedroom residence features generously sized bedrooms and bathrooms, a fireplace, washer/dryer hookups, a large deck, and a residential-scale layout. The property provides 12 parking spaces, consisting of seven subterranean spaces and five rear alley garage spaces. Six of the ten units have undergone renovations, including three remodeled since 2024. Additional improvements include a roof overlay completed in early 2024, Vulkem deck work completed in 2023, recent exterior painting, and staircase improvements. Select units feature updated kitchens and baths, stainless steel appliances, hardwood-style flooring, exposed-beam ceilings, and outdoor space. The property also includes a dedicated laundry room and landscaped common areas. The location offers proximity to Montana Avenue's restaurants, retailers, cafes, boutiques, and services, as well as Palisades Park, the Santa Monica coastline, Downtown Santa Monica, Third Street Promenade, and Santa Monica Place. The property has a 95 Bike Score®—Biker's Paradise and an 84 Walk Score®—Very Walkable. Nearby healthcare, education, technology, and entertainment employers contribute to a diverse Santa Monica employment base.
$21,689/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
Last updated: October 21, 2026 at 4:30 PMThe multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. All listing data, including but not limited to square footage and lot size, is believed to be accurate but is not guaranteed by the listing Agent, listing Broker, or CRMLS. Buyers are responsible for verifying the accuracy of all information and should independently investigate the data or retain appropriate professionals prior to making any decisions. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information herein may or may not have been the Listing and/or Selling Agent. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
