A rare opportunity for investors: 1047 9th Street is a Mills Act property, offering significant property tax savings that directly improve net operating income, making this a uniquely attractive turnkey investment in Santa Monica's coveted Wilshire Montana neighborhood. This historic compound consists of three fully updated bungalows on a single lot, each with private outdoor space, in-unit laundry, and two parking spaces with EV-charging capability. These modern amenities, paired with classic architectural charm, ensure strong tenant appeal and low vacancy. The location boasts an A+ walkability score, just steps from Montana Avenue's premier shopping, dining, fitness studios, and a short stroll to the beach, offering lifestyle convenience that commands premium rental rates. Beyond its current stability, the property also presents clear value-add potential: entitlements allow for the addition of one to two two-bedroom units, with projected rental upside of up to $120,000 annually, while preserving its historic character. This is an exceptional opportunity to acquire a cash-flowing, tax-advantaged asset in one of Santa Monica's most desirable neighborhoods, blending immediate returns with long-term growth potential. Drive-by only. Interior access provided with accepted offer. Please do not disturb tenants. *Listing Agent 4: Bridgette Campbell, DRE 02187270 | Christie's RE SoCal, DRE 01527644*
Days on market: 9
Listing updated: September 03, 2025 - 07:33:09
Listed by: Donald Heller DRE #01198240 310-893-6223, Christie's International Real Estate SoCal - Beverly Hills/Greater LA
Source: Beverly Hills/Greater LA, MLS#: CLW-X8339101 Originating MLS: CRMLS
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