Property Detail

522 Idaho

Santa Monica CA 90403

$2,700,000

Status: Active

Property Details

Description

PRIVATE PROPERTY. TOURS BY APPOINTMENT ONLY. DO NOT DISTURB TENANTS. 522-532 Idaho Avenue is a boutique six unit multifamily investment opportunity located in Santa Monica's coveted Wilshire-Montana neighborhood. Situated just one block south of Montana Avenue and six blocks from Palisades Park and Santa Monica Beach, the property combines premier walkability with low operational complexity, making it ideal for private buyers seeking an A+ location, reliable yield, upside, and minimal management intensity. Offered at $2,700,000, the asset reflects a 4.83% CAP through easy to execute self-management. Even if off-site management is utilized, the property continues to offer an attractive 4.48% CAP with plenty of upside. Current rents are approximately 22% below market, supporting a projected 6% CAP on proforma rents if self-managed. The projected market GRM of 11.89, compared to the scheduled GRM of 14.01, further highlights the embedded income growth opportunity. Built in 1922, the property features six (6) one-bedroom, one-bathroom railroad-style bungalow units totaling approximately 3,360 SF on a 7,480 SF corner lot. Zoned SMR2, the site benefits from legal nonconforming density and will be delivered with two units vacant, allowing for immediate repositioning. Recent upgrades at two of the property's units include modernized kitchens and bathrooms, new flooring, in unit washer/dryers, and custom closets. Further property improvements include new landscaping, fencing, irrigation, and fresh paint, reducing near term capital needs. With walkable access to Montana Avenue, Downtown Santa Monica, Santa Monica Beach and Pier, and convenient connectivity to PCH and the I10, 522-532 Idaho Avenue represents a rare opportunity to acquire a higher yielding, low maintenance multifamily asset in one of Santa Monica's most desirable residential enclaves.

Map Location

Listing provided courtesy of James Keady of CB Richard Ellis, Inc.. Last updated 2026-05-25 08:11:34.000000. Listing information © 2025 CRMLS.

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"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

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