Investment Overview

1757 17th Street is a 9-unit apartment building plus a non-conforming studio situated on the northeast corner of Michigan Avenue and 17th Street in Santa Monica. Built in 1997, the property consists of approximately 8,306 square feet of building area on a 9,297-square-foot lot and is being offered for sale by the original ownership for the first time. The unit mix consists of eight two-bedroom/two-bathroom units and one one-bedroom unit, plus a non-conforming studio. Five residences feature two-story layouts with dramatic high ceilings and loft/office areas, including four townhouse-style units with large private rooftop patios. All units, including the studio, offer private outdoor space. Built in 1997, the property is not subject to Santa Monica rent control, with two units deed restricted at 60% of area median income through 2050. The property features secure controlled entry and 19 on-site parking spaces, including 16 secure underground spaces and three additional surface spaces at the rear of the property. Additional features include individually metered water, gas and electricity, and on-site laundry facilities. Ideally located near Santa Monica College, the 17th Street/SMC Metro station and approximately 17 blocks from the beach, the property benefits from a Walk Score of 82 and convenient access to the many amenities of Santa Monica.