Samimi CRE Advisors
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    Closed Case Study

    1041 9th Street, Santa Monica, CA

    1041 9th St, Santa Monica — 10-Unit Multifamily Sold $3.9M

    1041 9th Street, Santa MonicaClosed June 2026Represented buyer
    1041 9th Street — closed by Cameron Samimi

    Price

    $3,900,000

    Units

    10

    $/Unit

    $390,000/unit

    Type

    multifamily

    Deal summary

    1041 9th Street, Santa Monica, CA is a 10-unit multifamily property that sold for $3,900,000 ($390,000/unit) in June 2026. Cameron Samimi of Samimi CRE Advisors represented the buyer in the transaction.

    The Challenge

    Our buyer needed a 10-unit multifamily asset in Santa Monica — one of the tightest, most competitive rent-controlled submarkets in Los Angeles County. On-market inventory in the 9th Street corridor is thin, listed deals draw multiple offers, and Santa Monica's rent control (Charter Amendment/Rent Control Board) plus the city's tenant-protection rules mean pricing hinges on in-place rents, unit mix, and realistic upside — not broad market averages.

    What We Did

    We worked the off-market channel instead of bidding against the field. Using our Santa Monica and Westside LA owner database, we identified an unlisted 10-unit building at 1041 9th Street and opened a direct conversation with ownership. We underwrote the asset on in-place rents, verified the rent-control status and registered rents for each unit, modeled the per-unit basis against recent Santa Monica multifamily comps, and negotiated terms directly with the seller — no competing offers, no auction dynamics.

    The Result

    Closed at $3,900,000 — roughly $390,000 per unit — for a 10-unit Santa Monica multifamily property acquired entirely off-market in June 2026. Our client secured a rent-controlled Westside asset in a supply-constrained coastal submarket at a negotiated basis, without competing in a bidding war. The transaction was reported by Traded.

    Verified coverage

    This closing was reported by Traded (June 2026).

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