210 California Ave presents a fully vacant coastal multifamily opportunity located in Santa Monica's premier 90403 neighborhood, one of Los Angeles' most supply-constrained and highest-demand rental markets. Withdrawn under the Ellis Act in 2019, the property has completed all required timelines and is now eligible to be reintroduced at full market rents. Built in 1962, this 9, 346 SF, 11-unit building sits on a 7, 498 SF corner lot just one block from Ocean Avenue, with partial ocean views on select units. 210 California offers investors a rare blank-canvas value-add or redevelopment play in a trophy coastal location. The existing unit mix six 2BD/2BA units, four 1BD/1BA units, and one studio, supports multiple repositioning strategies, from premium interior renovations to a full reconfiguration or entitlement-driven redevelopment (buyer to verify). With all units delivered vacant, investors can immediately begin rehabilitation and execute a streamlined lease-up at prevailing Santa Monica rents, supported by strong tenant demand, high household incomes, and strict long-term supply constraints. Situated steps from the beach, Palisades Park, Montana Avenue, and the 3rd Street Promenade, the asset benefits from exceptional walkability, affluent demographics, and resilient rental fundamentals. This is a highly executable coastal value-add opportunity with significant NOI growth potential and durable long-term equity.
