3017 4th, Santa Monica, California 90405, Santa Monica, 90405 - 7 bed, 5 bath
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Santa Monica, California 90405
Analysis of 3017 4th, Santa Monica, California 90405 is currently available with a list price of $2,450,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Santa Monica Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1953, this quadruplex is well-maintained but shows signs of its age. While the interiors feature some modern cosmetic updates—such as newer lower kitchen cabinets, butcher block countertops, and updated bathroom vanities—the property retains older infrastructure including wall heaters and original upper cabinets. It is move-in ready for tenants but lacks the comprehensive system and structural renovations required for a higher rating.
Situated in the highly coveted Ocean Park neighborhood, the property is just blocks from the beach and popular amenities on Main Street and Rose Avenue, ensuring consistently high tenant demand.
With a current CAP rate of 4.91% and a pro forma potential of 6.25%, the property offers a clear value-add opportunity for investors to capture market-rate rents in a supply-constrained submarket.
The unit mix includes a spacious 3-bedroom townhome with a private backyard patio, making it an ideal opportunity for an owner-occupant to live in a premium unit while generating income from the others.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 7, other record bedroom count = 6.
Built in 1953, the property may require significant capital expenditures for modernizing systems or addressing deferred maintenance typical of older coastal structures.
Located in Santa Monica, the property is subject to rigorous local rent control ordinances and tenant protections, which can limit the speed and flexibility of achieving pro forma rental income.
3017 4th Street presents a well-located 4-unit multifamily investment opportunity in the highly sought-after Ocean Park neighborhood of Santa Monica. Situated on a 7,512 SF lot, the property offers approximately 3,379 SF of rentable space and features a desirable unit mix consisting of (1) 3-Bed/2-Bath Townhome, (1) 2-Bed/1-Bath, and (2) 1-Bed/1-Bath units. The rear unit is a spacious 2-story townhome that includes a private backyard patio, providing a highly desirable living environment and strong tenant appeal. The property also offers immediate upside allowing an investor to achieve market rents or an owner-user to occupy a unit while generating income from the remaining units. With solid in-place income and clear rental upside, the property operates at a 4.91% CAP rate with the potential to reach a 6.25% pro forma CAP. Located just blocks from the beach and within close proximity to Main Street and Rose Avenue, 3017 4th Street benefits from strong rental demand in one of the most supply-constrained coastal submarkets in Los Angeles, making it an attractive opportunity for both investors and owner-users.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 0.0 | 67% |
| Baths | 5.0 | 0.0 | 67% |
| Square foot | 3,379 | 2,222 | 67% |
| Lot Size | 7,512 | 7,004 | 67% |
| Price | $2.45M | $1.56M | 67% |
| Price per sq ft | $725 | $725 | 50% |
| Built year | 1953 | 1940 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 30 | 100 | 33% |
Mar 23, 2026
$2,450,000
Initial Listing
Mar 6, 2024
$2,250,000
Public Record