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836 Cedar
About This Property
The property includes three existing structures: a detached single-family residence (approx. 1,246 SF, 3 bedrooms, 1 bathroom), a detached two-car garage, and a church building (approx. 6,293 SF), which may continue to serve as a place of worship or other allowable uses. The current improvements provide flexibility for interim use while planning future development.
The SFR offers immediate occupancy or rental income potential, allowing investors to generate cash flow during the entitlement and planning process.
R-2 zoning may allow for a variety of residential development options, including multi-unit housing and ADUs (buyer to verify all zoning, density, and permitted uses with the City of Santa Monica).
Ideally located just a short distance to the beach, and near top-rated schools, dining, shopping, and major amenities. Rare opportunity to secure a well-located parcel with both current income and long-term development upside.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 8, 2026 | Sold | ||
| Sold | |||
| May 8, 2026 | In contract | - | |
| In contract | |||
| Apr 23, 2026 | Listed by Ricky&Jessie Realty | $3,500,000 | |
| Listed by Ricky&Jessie Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017