1042 6th St · Santa Monica, CA 90403

$4,450,000

8 bd · 16.0 ba · 9,900 sqft · MultiFamily public records · 97 Days on market

Built 1963 0.26 ac lot $449/sqft · 10% above area Est $4054k · 10% over

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.2/10.0
• Appreciation +4.9/10.0
• Livability +3.6/5.0
• ARV discount +3.1/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 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

The property at 1042 6th Street in Santa Monica, CA 90403, is a well-positioned 16-unit multifamily building constructed in 1963, offering a balanced unit mix of eight one-bedroom/one-bathroom apartments and eight studios. Spanning approximately 9,900 square feet on a generous 0.26-acre lot, this two-story community has been meticulously maintained through decades of dedicated ownership, with consistent capital expenditures focused on optimizing operations, enhancing building performance, and boosting tenant appeal. Key improvements include the completion of a Soft Story Seismic retrofit in 2020 and the installation of a new roof in 2021. The building's quaint charm, combined with practical amenities such as on-site laundry and assigned parking, positions it as a stable income producer in one of Southern California's most coveted coastal markets, with strong rental demand driven by its prime location and enduring upkeep. Nestled in the desirable Wilshire-Montana neighborhood of SantaMonica, the property at 1042 6th Street benefits from exceptional proximity to the Pacific Ocean, just five blocks from the iconic SantaMonica Beach and Pier, offering residents easy access to miles of pristine coastline, recreational paths, and vibrant waterfront activities. Steps away from the highly desirable Montana Avenue, known for its upscale boutiques, gourmet restaurants, and tree-lined charm, the location embodies the quintessential Santa Monica lifestyle with a blend of luxury and convenience. Additionally, the property is only about three miles from the affluent Brentwood neighborhood, providing seamless connectivity to high-end shopping, cultural attractions, and professional hubs via excellent transit options, including a 73/100 transit score and 92/100 bike score. Surrounded by top-rated schools, Third Street Promenade's entertainment district, and everyday amenities, this address delivers unparalleled walkability (72/100 score) in a quiet, healthy community setting, making it an ideal spot for tenants seeking the best of coastal living. Prime Coastal Location: Just five blocks from Santa Monica Beach and Pier, with easy access to oceanfront recreation and stunningPacific views. Proximity to Upscale Amenities: Steps from Montana Avenue's boutique shopping and dining, and only three miles from Brentwood's luxury offerings. Well-Maintained Asset: Decades of ownership with regular capital expenditures enhancing operations, performance, and tenant appeal; Soft Story Seismic retrofit completed in 2020 and the installation of a new roof in 2021. Balanced Unit Mix: 16 units comprising eight one-bedroom/one-bathroom supporting diverse tenant profiles. Strong Accessibility: High walk (72/100), bike (92/100), and transit(73/100) scores, plus gated parking and on-site laundry for added convenience. Desirable Neighborhood: Situated in the Wilshire-Montana area, near Third Street Promenade, Santa Monica College (0.5 miles), and everyday essentials in a quiet, healthy environment.

Key facts

• Assigned parking
• New roof
• On-site laundry

Tags

• SOFT STORY SEISMIC RETROFIT
• NEW ROOF
• ON-SITE LAUNDRY
• ASSIGNED PARKING
• PRIME COASTAL LOCATION
• PROXIMITY TO UPSCALE AMENITIES

What this means for you Summary

Snapshot

• This is a 16 × 8-bed/1.0-bath units multifamily listed at $4.45M.

Deal economics

• At list price, monthly cash flow is $36k ($429k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($78k rent vs $4.45M).
• Recommended offer: $4.05M (9.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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 soft (-0.1%/yr); 93 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 $78,181/mo this rent would consume 769% of the median local household income ($122k/yr) (locally 2265% 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 $26k of equity ($31k loan paydown + $-4k appreciation (-0.1% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.1% appreciation + 0.0% rent growth), your $1.25M cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$298k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($4.05M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• 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 $4,049,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.76% ✓
• Cap rate: 15.94%
• Cash-on-cash: 34.45%
• DSCR: 2.53
• GRM: 4.7

CMA / ARV

• ARV (median comp): $4,054,166
• List price: $4,450,000
• Delta: 9.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.1% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 2.52×
• Total profit: $1,896,307
• Equity at exit: $1,269,805

10-year hold

• IRR: 34.3%
• Equity multiple: 4.41×
• Total profit: $4,252,647
• Equity at exit: $1,508,652

Cash invested: $1,246,000 (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 90403

• Home prices YoY: -0.0%
• Rents YoY: -0.1%
• Active inventory: 93
• Price-to-rent: 75.9×

Monthly cashflow live

• Estimated rent: $78,181 medium
• Mortgage (P&I): −$23,336
• Tax from tax record: −$800 /mo · $9,605/yr
• Insurance: −$1,854
• HOA: −$0
• Vacancy / Maint / Mgmt: −$16,418
• Net cashflow: $35,772

Break-even live

Break-even rent $32,900

Max offer price $4,450,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 16× units	8	1	$78,176
Total (16 units)			$78,181

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: $1,112,500
• Closing costs: $133,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $4,450,000 Active 97 DOM
2. 2026-06-17
   days on market $4,450,000 Active 96 DOM
3. 2026-06-16
   days on market $4,450,000 Active 95 DOM
4. 2026-06-15
   days on market $4,450,000 Active 94 DOM
5. 2026-06-13
   days on market $4,450,000 Active 92 DOM
6. 2026-06-13
   days on market $4,450,000 Active 91 DOM
7. 2026-06-09
   days on market $4,450,000 Active 88 DOM
8. 2026-06-08
   days on market $4,450,000 Active 87 DOM
9. 2026-06-07
   days on market $4,450,000 Active 86 DOM
10. 2026-06-04
    days on market $4,450,000 Active 83 DOM
11. 2026-06-03
    days on market $4,450,000 Active 82 DOM
12. 2026-06-02
    days on market $4,450,000 Active 81 DOM
13. 2026-06-01
    days on market $4,450,000 Active 80 DOM
14. 2026-05-31
    days on market $4,450,000 Active 79 DOM
15. 2026-03-12
    listed $4,450,000 Active 3014-char remark

    Show marketing remark (3014 chars)

    The property at 1042 6th Street in Santa Monica, CA 90403, is a well-positioned 16-unit multifamily building constructed in 1963, offering a balanced unit mix of eight one-bedroom/one-bathroom apartments and eight studios. Spanning approximately 9,900 square feet on a generous 0.26-acre lot, this two-story community has been meticulously maintained through decades of dedicated ownership, with consistent capital expenditures focused on optimizing operations, enhancing building performance, and boosting tenant appeal. Key improvements include the completion of a Soft Story Seismic retrofit in 2020 and the installation of a new roof in 2021. The building's quaint charm, combined with practical amenities such as on-site laundry and assigned parking, positions it as a stable income producer in one of Southern California's most coveted coastal markets, with strong rental demand driven by its prime location and enduring upkeep. Nestled in the desirable Wilshire-Montana neighborhood of SantaMonica, the property at 1042 6th Street benefits from exceptional proximity to the Pacific Ocean, just five blocks from the iconic SantaMonica Beach and Pier, offering residents easy access to miles of pristine coastline, recreational paths, and vibrant waterfront activities. Steps away from the highly desirable Montana Avenue, known for its upscale boutiques, gourmet restaurants, and tree-lined charm, the location embodies the quintessential Santa Monica lifestyle with a blend of luxury and convenience. Additionally, the property is only about three miles from the affluent Brentwood neighborhood, providing seamless connectivity to high-end shopping, cultural attractions, and professional hubs via excellent transit options, including a 73/100 transit score and 92/100 bike score. Surrounded by top-rated schools, Third Street Promenade's entertainment district, and everyday amenities, this address delivers unparalleled walkability (72/100 score) in a quiet, healthy community setting, making it an ideal spot for tenants seeking the best of coastal living. Prime Coastal Location: Just five blocks from Santa Monica Beach and Pier, with easy access to oceanfront recreation and stunningPacific views. Proximity to Upscale Amenities: Steps from Montana Avenue's boutique shopping and dining, and only three miles from Brentwood's luxury offerings. Well-Maintained Asset: Decades of ownership with regular capital expenditures enhancing operations, performance, and tenant appeal; Soft Story Seismic retrofit completed in 2020 and the installation of a new roof in 2021. Balanced Unit Mix: 16 units comprising eight one-bedroom/one-bathroom supporting diverse tenant profiles. Strong Accessibility: High walk (72/100), bike (92/100), and transit(73/100) scores, plus gated parking and on-site laundry for added convenience. Desirable Neighborhood: Situated in the Wilshire-Montana area, near Third Street Promenade, Santa Monica College (0.5 miles), and everyday essentials in a quiet, healthy environment.

16. 2024-08-07
    historical $1,995
17. 2024-08-07
    price $1,995
18. 2024-07-30
    listed $2,050
19. 2024-04-10
    historical $2,250
20. 2024-03-29
    listed $2,250
21. 2023-07-29
    historical $2,050
22. 2023-07-19
    listed $2,050

ⓘ 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: $9,605 · $800/mo
• Projected year-2 tax: $33,820 · $2,818/mo
• Expected delta: +$24,215/yr (+$2,018/mo · 252.1%)

ⓘ 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: $938,172
• − Mortgage interest: −$249,269
• − Property taxes: −$9,605
• − Insurance: −$22,250
• − Repairs & maintenance: −$75,054
• − Management: −$75,054
• − Depreciation: −$129,455
• Taxable income: $377,486
• Est. tax owed @ 24.0%: −$90,597
• After-tax cash flow: $338,669/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): 23,867
• Household income: $121,925
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 2265.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 12% Two or more races 12% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 7% Romanian 5% Scotch-Irish 4%
• Foreign-born: 24% · Canada, China, Dominican Republic
• Languages at home: 75% English-only · Spanish 8% Other Indo-European 6% Russian/Polish/Slavic 4%

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: ▼ -0.10%
• Current HPI: 310.2427
• Rent YoY: ▼ -0.07%
• 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

+216973.2% since first listed

8 events — show timeline

• 2026-03-12 Listed $4,450,000 TheMLS
• 2024-08-07 Rental Removed $1,995 RENT.
• 2024-08-07 Price Changed $1,995 RENT.
• 2024-07-30 Listed for Rent $2,050 RENT.
• 2024-04-10 Rental Removed $2,250 APPFOLIO
• 2024-03-29 Listed for Rent $2,250 APPFOLIO
• 2023-07-29 Rental Removed $2,050 APPFOLIO
• 2023-07-19 Listed for Rent $2,050 APPFOLIO

Property tax history

+2.2%/yr

Latest (2025): $9,605 · +6.8% YoY. Source: county tax records.