The Location
901 Ocean Ave sits in the Wilshire Montana submarket of Santa Monica, zip 90403. Ocean Avenue is the last street before the bluffs and the Pacific Coast Highway. The address is genuinely coastal.
The Setup
Three-story wood-frame construction, one elevator, 30,954 gross SF on 14,998 SF land.
Unit mix is 18 one-bedrooms averaging 807 SF and 10 two-bedrooms averaging 1,022 SF.
Average unit is 883 SF.
Renovated in 2022, so the finishes are relatively fresh: granite countertops, stainless appliances, hardwood floors, double-pane windows, floor-to-ceiling windows in select units.
Amenities include a pool, sundeck, cabana, courtyard, grill, controlled access, car charging stations, and bicycle storage.
The SMRC Rent Control Math
Built 1961 in Santa Monica. This building is not subject to LARSO. It is subject to the Santa Monica Rent Control Charter Amendment, which is stricter, older, and more tenant-protective than LA City's ordinance.
Under SMRC, annual rent increases are tied to the Santa Monica Rent Control Board's annual general adjustment, historically 1% to 3% per year. Vacancy decontrol does apply in Santa Monica, meaning a unit resets to market on a voluntary vacancy.