Constance Apartments — Sale in Santa Monica, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Santa Monica, CA 90403

Investment Figures

Cap rate
5.32%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. Nestled in the desirable Wilshire-Montana neighborhood of Santa Monica, the property at 1042 6th Street benefits from exceptional proximity to the Pacific Ocean, just five blocks from the iconic Santa Monica Beach and Pier, offering residents easy access to miles of pristine coastline, recreational paths, and vibrant waterfront activities. Investment Highlights: • Prime Coastal Location: Just five blocks from Santa Monica Beach and Pier, with easy access to oceanfront recreation and stunning Pacific 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: Soft Story Seismic retrofit completed in 2020 and the installation of a new roof in 2021.

Market Context

This multifamily in Santa Monica, CA is listed for sale. It is offered at an approximate 5.3% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 86 days. Compare it against other multifamily listings for sale in Santa Monica, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 5.3% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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