1017 5th
Santa Monica, CA, 90403
$5,199,000
Original list price: $5,485,000
MLS: SB26194031
Beds
—
Baths
—
Sq Ft
7,494
Lot
0.17 ac
Year Built
1958
MLS #
SB26194031
Days on Market
46
Listed
Sep 4, 2026
Description
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 $5,199,000, the property generates a compelling 5.75% current cap rate and 12.39 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 7.13% cap rate and 12.39 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.
Location
Santa Monica, Los Angeles County, CA 90403
Open on Google Maps ↗Listed by: Cameron Samimi · Lyon Stahl Investment Real Estate, Inc.
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$40,062
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $519,900 · Loan: $4,679,100
Average 30-yr fixed rate 7.40% as of Oct 15, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $32,397
- Property tax (1.25%)
- $5,416
- Homeowners insurance
- $300
- Mortgage insurance
- $1,950
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Oct 15, 2026
- 30-year fixed
- 7.40%
- 15-year fixed
- 6.71%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Santa Monica home with as little as 3.5% down using an FHA loan — roughly $181,965 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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Local Market Stats
See Santa Monica, CA 90403 market trends →
Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
★#1 Producing Individual Realtor, Antelope Valley
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