1434 Berkeley St - Apartments FOR SALE


Santa Monica, CA 90404- Mid-City Santa Monica | 
$2,500,000 USD
310-909-5444
1434 Berkeley St, Santa Monica, CA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/46
null | 5.28% Cap Rate

1434 Berkeley St
Santa Monica, CA 90404
Mid-City Santa Monica


HIGHLIGHTS

  • Rare mix of large, townhouse-style units, uncommon for the submarket.
  • Five are spacious two-bedroom, two-bath townhomes, one is a one-bedroom, one-bath unit, and one is a three-bedroom, two-bath unit.
  • Seven on-site parking spaces, with five spaces in the rear and two tandem spaces at the front of the building.
  • Most units feature granite countertops, copper plumbing, and individual washer and dryers, reducing near-term capital exposure for ownership.
  • Newly installed garage gates in the rear of the building add a further layer of security and curb appeal.
  • Built in 1964, the property totals approximately 8,390 square feet on a 7,807 square foot lot, with a small grass yard fronting the building.

OVERVIEW

The Neema Group at Marcus & Millichap is pleased to present a seven-unit multifamily investment opportunity at 1434 Berkeley St, located in Santa Monica’s Mid-City neighborhood just south of Santa Monica Blvd, one of the Westside’s most established and supply-constrained rental submarkets. The property offers a rare mix of large, townhouse-style units, uncommon for the submarket. Of the seven units, five are spacious two-bedroom, two-bath townhomes, one is a one-bedroom, one-bath unit, and one is a three-bedroom, two-bath unit, giving ownership a diversified rent roll across floor plans. The property provides seven on-site parking spaces, with five spaces in the rear and two tandem spaces at the front of the building, a meaningful amenity in a submarket where covered parking is limited. Most units feature granite countertops, copper plumbing, and individual washer and dryers, reducing near-term capital exposure for ownership. Newly installed garage gates in the rear of the building add a further layer of security and curb appeal. Built in 1964, the property totals approximately 8,390 square feet on a 7,807 square foot lot, with a small grass yard fronting the building along Berkeley St. Mid-City is Santa Monica’s second most walkable neighborhood, carrying a Walk Score of 92. Residents are within walking distance of the Wilshire Blvd retail and restaurant corridor and Santa Monica College. The Expo Line’s 26th St/Bergamot station provides direct transit access, connecting residents to Downtown Santa Monica, Downtown Los Angeles, and destinations throughout the Westside.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$298 USD /SF

# OF UNITS

7

PRICE/UNIT

$357,143

CAP RATE

5.28%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,649 SF

ZONING

SMR2YY

APN/PARCEL ID

4267-017-015

ASK ABOUT THIS PROPERTY

Neema AhadianMarcus & MillichapMore Info
310-909-5444

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Neema AhadianMarcus & MillichapMore Info
310-909-5444

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.