1217 9th St · Santa Monica, CA 90401

$5,100,000

10 bd · 10.0 ba · 3,600 sqft · MultiFamily public records · 27 Days on market

Built 1924 7,514 sqft lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.4/30.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Appreciation +5.7/10.0
• Livability +3.6/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Rent growth +1.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach. ” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203,500. Pro-Forma, with slight improvements to each unit, is $309,600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.

Key facts

• Copper plumbing
• Upgraded electrical
• Fiber optic internet

Tags

• NEW ROOF
• COPPER PLUMBING
• UPGRADED ELECTRICAL
• FIBER OPTIC INTERNET
• CONTEMPORARY FINISHES
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Unit mix includes multiple like units (12 of one unit type, 1 of another); Sample unit rents: one unit type actual rent $27,176 annually (approximately $2,264.70/month projected $28,800), another unit actual rent $2,545/month (projected $2,600)
• Financial info: Gross income reported at $359,064; Gross operating income reported at $348,292; Net operating income reported at $243,651; Total annual expenses reported at $104,641; Gross rent multiplier: 14.02; Income reported as actual
• HOA & community: 13 total units in the complex

Exterior

• Parking: No garage
• Security: No security details provided
• Utilities: No water, sewer, or power details provided
• Home design: Residential income property; Single-story; One building
• Construction: No construction, year built, roof, or foundation details provided
• Exterior features: No other exterior structures; Zoning: SMR3*

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Studio and 1-bedroom unit types (unit breakdown includes 0-bed units)
• Flooring: No flooring details provided
• Bathrooms: Some units with one bathroom
• Heating & cooling: Wall heat; Wall/window unit cooling
• Interior features: One level building
• Laundry & utility: No laundry or utility details provided

What this means for you Summary

Snapshot

• This is a 13 × 1-bed/?-bath units multifamily listed at $5.10M.

Deal economics

• At list price, monthly cash flow is $-3k ($-32k/yr) — negative. Per door: $-205/mo.
• To cash-flow at today's rent, offer at most $4.63M (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $3.72M (27.0% below list).
• Recommended offer: $3.72M (27.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 1.2% in Santa Monica — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#178 in CA) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: health & safety C-, crime F, cost of living F.
• Santa Monica-Malibu Unified (urban): math 61% / reading 74% proficiency, ranked #123 of 1,400 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-4.1%/yr); 27 active listings in the ZIP; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $37,218/mo this rent would consume 405% of the median local household income ($110k/yr) (locally 1039% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $110k of equity ($35k loan paydown + $75k appreciation (1.5% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$387k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($5.02M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $2.80M; list at $5.10M implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,721,800 (27.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• GRM: 11.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.46% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.95×
• Total profit: $-68,535
• Equity at exit: $1,864,430

10-year hold

• IRR: 2.3%
• Equity multiple: 1.28×
• Total profit: $398,296
• Equity at exit: $2,576,031

Cash invested: $1,428,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90401

• Home prices YoY: 0.5%
• Rents YoY: -4.1%
• Active inventory: 27
• Price-to-rent: 148.4×

Monthly cashflow live

• Estimated rent: $37,218 high
• Mortgage (P&I): −$26,745
• Tax from tax record: −$3,192 /mo · $38,307/yr
• Insurance: −$2,125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,816
• Net cashflow: $-2,660

Break-even live

Break-even rent $40,585

Max offer price $4,630,108

Occupancy floor —

13-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 13× units	1	—	$37,219
Total (13 units)			$37,218

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,275,000
• Closing costs: $153,000
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $5,100,000 Active 27 DOM
2. 2026-06-17
   days on market $5,100,000 Active 26 DOM
3. 2026-06-16
   days on market $5,100,000 Active 25 DOM
4. 2026-06-15
   days on market $5,100,000 Active 24 DOM
5. 2026-06-13
   days on market $5,100,000 Active 22 DOM
6. 2026-06-13
   days on market $5,100,000 Active 21 DOM
7. 2026-06-09
   days on market $5,100,000 Active 18 DOM
8. 2026-06-08
   days on market $5,100,000 Active 17 DOM
9. 2026-06-07
   days on market $5,100,000 Active 16 DOM
10. 2026-06-04
    days on market $5,100,000 Active 13 DOM
11. 2026-06-03
    days on market $5,100,000 Active 12 DOM
12. 2026-06-02
    days on market $5,100,000 Active 11 DOM
13. 2026-06-01
    days on market $5,100,000 Active 10 DOM
14. 2026-05-31
    days on market $5,100,000 Active 9 DOM
15. 2026-05-22
    listed $5,100,000 Active
16. 2022-06-22
    price $2,295
17. 2022-04-20
    status Active
18. 2022-04-20
    historical Backup Offers Accepted
19. 2022-03-07
    listed Active
20. 2020-09-09
    soldstatus $2,800,000 Closed Sale 1188-char remark

    Show marketing remark (1188 chars)

    LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach. ” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203,500. Pro-Forma, with slight improvements to each unit, is $309,600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.

21. 2020-09-09
    soldstatus $2,800,000

    Show marketing remark (1188 chars)

    LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach. ” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203,500. Pro-Forma, with slight improvements to each unit, is $309,600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.

22. 2020-07-25
    status Pending Sale 1188-char remark

    Show marketing remark (1188 chars)

    LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach. ” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203,500. Pro-Forma, with slight improvements to each unit, is $309,600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.

23. 2020-06-22
    status Active Under Contract 1188-char remark

    Show marketing remark (1188 chars)

    LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach. ” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203,500. Pro-Forma, with slight improvements to each unit, is $309,600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.

24. 2020-03-23
    historical Hold Do Not Show 1188-char remark

    Show marketing remark (1188 chars)

    LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach. ” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203,500. Pro-Forma, with slight improvements to each unit, is $309,600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.

25. 2020-03-15
    historical Active Under Contract 1188-char remark

    Show marketing remark (1188 chars)

    LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach. ” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203,500. Pro-Forma, with slight improvements to each unit, is $309,600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.

26. 2020-02-24
    listed $3,499,000 Active 1188-char remark

    Show marketing remark (1188 chars)

    LOWEST price per door, and HIGHEST cap rate, currently on the market in Santa Monica! This classic 1924 courtyard style property is located on 9th and Wilshire, a PRIME area of Santa Monica. Residents can easily walk, bike, or take a Bird around town. Just 9 blocks from the beach, 6 blocks from Third Street Promenade, and steps away from local restaurants, shops and entertainment. Tech giants, such as, Google, Amazon, Yahoo!, YouTube, Facebook, BuzzFeed and so many more have made, or are in the process of making a home for themselves in and around this Santa Monica area. These major technology companies, as well as, over 500 tech startup companies, has made Santa Monica and west side of LA known as “Silicon Beach. ” The building is in very good condition. This is an investor’s dream in that the investor can purchase and hold it as is; OR they have great potential to add value to the property. Current annual income is $203,500. Pro-Forma, with slight improvements to each unit, is $309,600. Pro-Forma with a complete rehab would be even higher. This property also has the potential of ADU (2-3 units) or condo conversion. Email me for OM and rent roll.

27. 2019-12-31
    historical
28. 2019-08-12
    listed $3,700,000 Active
29. 2000-01-19
    soldstatus $749,000
30. 1988-10-28
    soldstatus $321,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $38,307 · $3,192/mo
• Projected year-2 tax: $38,760 · $3,230/mo
• Expected delta: +$453/yr (+$38/mo · 1.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥80°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $446,616
• − Mortgage interest: −$285,679
• − Property taxes: −$38,307
• − Insurance: −$25,500
• − Repairs & maintenance: −$35,729
• − Management: −$35,729
• − Depreciation: −$148,364
• Taxable loss: −$122,692
• Est. tax savings @ 24.0%: +$29,446
• After-tax cash flow: $-2,473/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Santa Monica-Malibu Unified
• NCES district ID: 0635700
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $81,489
• Composite: 61.58/100
• National rank: #1535
• State rank: #123 of 1400 in CA

Livability — Santa Monica

• Score: 72/100
• State rank: #178
• US rank: #5878

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing B- Health & safety C- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Monica, CA
• County: Los Angeles County · 9,444,647 people
• City population: 93,581
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 8,101
• Household income: $110,385
• Rent vs Own: 94.8% rent · 5.2% own
• Severe rent burden: 1039.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 14% Hispanic / Latino 10% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 5% Salvadoran 1%
• Common ancestry: Scotch-Irish 6% Romanian 4% Italian 4%
• Foreign-born: 28% · Canada, China, Dominican Republic
• Languages at home: 75% English-only · Spanish 7% Other Indo-European 6% Russian/Polish/Slavic 2%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.46%
• Current HPI: 273.1797
• Rent YoY: ▼ -4.14%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+1488.8% since first listed

16 events — show timeline

• 2026-05-22 Listed $5,100,000 TheMLS
• 2022-06-22 Price Changed $2,295 RENT.
• 2022-04-20 Relisted — TheMLS
• 2022-04-20 Contingent — TheMLS
• 2022-03-07 Listed — TheMLS
• 2020-09-09 Sold (Public Records) $2,800,000 Public Records
• 2020-09-09 Sold (MLS) $2,800,000 CRMLS
• 2020-07-25 Pending — CRMLS
• 2020-06-22 Relisted — CRMLS
• 2020-03-23 Delisted — CRMLS
• 2020-03-15 Contingent — CRMLS
• 2020-02-24 Listed $3,499,000 CRMLS
• 2019-12-31 Listing Removed — CRMLS
• 2019-08-12 Listed $3,700,000 CRMLS
• 2000-01-19 Sold (Public Records) $749,000 Public Records
• 1988-10-28 Sold (Public Records) $321,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $38,307 · +6.6% YoY. Source: county tax records.