2922 2nd Street, Santa Monica, CA 90405

Nov 13

$2,950,000 Sales Price

5
Units

3,441
Sq Ft

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The Rockwell Group presents a rare coastal investment opportunity just steps behind Main Street in the heart of Santa Monica’s Ocean Park neighborhood.

Offered at $2,950,000, 2922 2nd Street is a five-unit multifamily property delivered 100% vacant — a standout advantage in one of Los Angeles’ most heavily rent-controlled markets. Investors can reposition this property immediately to capture full market rents, sidestepping the typical tenant relocation hurdles common in Santa Monica.

Built in 1955 and spanning 3,441 square feet across a 4,986 SF lot, the property features an ideal mix of one- and two-bedroom units, each separately metered for gas and electricity, with on-site parking. With a projected renovation budget of $350,000–$500,000, investors can modernize interiors with high-end finishes — think wide-plank flooring, quartz countertops, stainless steel appliances, and in-unit washer/dryers — to achieve top-of-market rents and strong long-term value.

Beyond its financial potential, 2922 2nd Street offers a lifestyle unmatched by most multifamily properties. Located directly behind Santa Monica’s Main Street corridor, residents enjoy walkable access to Urth Caffé, Cobi’s, The Victorian, and the oceanfront just beyond. With a Walk Score of 95 and a Bike Score of 99, this address sits at the intersection of convenience, coastal energy, and investment-grade fundamentals.

The financial picture reinforces its strength. With a pro forma rent roll of $21,200 per month, the property offers a 5.78% cap rate and 11.6 GRM, outperforming area averages. In a submarket where vacancies are near zero, this fully vacant building represents a generational opportunity to control an irreplaceable Westside asset.

2922 2nd Street is presented exclusively by The Rockwell Group.
For investors seeking both stability and upside in Santa Monica’s coastal core, this listing delivers on every front: walkability, income potential, and timeless location value.