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.
Property Details
Price:
$2,700,000
MLS #:
25575611
Status:
Active
Baths:
0
Type:
Residential Income
Neighborhood:
c14santamonica
Listed Date:
Aug 8, 2025
Lot Size:
7,482 sqft / 0.17 acres (approx)
Year Built:
1922
See this Listing
Schools
Interior
Appliances
Dishwasher, Disposal, Refrigerator
Cooling
None
Heating
Wall Furnace
Laundry Features
Washer Included, Dryer Included
Exterior
Architectural Style
Bungalow
Parking Features
None
Parking Spots
0.00
Financial
Map
Community
- Address522 Idaho Avenue Santa Monica CA
- NeighborhoodC14 – Santa Monica
- CitySanta Monica
- CountyLos Angeles
- Zip Code90403
Subdivisions in Santa Monica
Market Summary
Current real estate data for Residential Income in Santa Monica as of Oct 18, 2025
54
Residential Income Listed
188
Avg DOM
$3,759,477
Avg List Price
Property Summary
- 522 Idaho Avenue Santa Monica CA is a Residential Income for sale in Santa Monica, CA, 90403. It is listed for $2,700,000
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522 Idaho Avenue
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