We buy apartment buildings in Santa Monica
The Beverly Group buys Santa Monica apartment buildings as they stand, tenants in place, closed on the date you pick.
What is your building worth?
Get a no-obligation written offer, usually within one day.
Pre-1979, and held a long time.
Two to twenty units, north of Wilshire.
Most Santa Monica rental stock predates 1979. Two to twenty units, north of Wilshire and through Pico and Ocean Park. Families hold these apartment buildings for decades, so rents usually sit well under market and the capital account has been running a deficit for years.
Rent control is in the city charter.
Santa Monica has had rent control since 1979, written into the charter rather than passed as an ordinance. Sellers sometimes treat that as a reason nobody will buy a Santa Monica building. We buy under it and we price it.
Supply cannot really grow.
Coastal zone, height limits, an entitlement process measured in years. Very little new competing product arrives. That constraint is the whole case for owning Santa Monica multifamily.
Our criteria, stated plainly.
If your property fits, you will hear from us within one business day. If it does not, we will tell you that just as quickly rather than sitting on it.
Four steps, start to close.
You reach out
An address is enough to begin. Nothing is listed.
We underwrite
Santa Monica underwriting starts from in-place rents, because that is what the charter permits us to plan around.
Written offer
A written offer with the deferred capital position stated plainly.
Escrow and close
Your escrow and title. We take the building and the tenancies as they are.
Rents are far under market.
Standard in Santa Monica. We model what the building collects, not what it might collect after a repositioning that may never happen.
Do I need to deliver units vacant?
No. We buy occupied. Do not relocate anyone on our account.
How long does a Santa Monica sale take?
Three to six weeks for most closings once terms are agreed. We will hold escrow longer if your exchange calendar calls for it.
Is there any obligation in asking?
None. Long-time Santa Monica owners frequently want a current figure for estate planning and stop there.
Do you charge a commission?
No. We are the buyer, not an agent.
Find out what your building is worth.
Complimentary, and with no obligation to sell.