1511 12th St - Apartments FOR SALE


Santa Monica, CA 90401- Pico
$3,500,000 USD
310-432-6547
1511 12th St, Santa Monica, CA for Sale
$3,500,000 USD
Apartments - FOR SALE
1/27
null | 5.3% Cap Rate

1511 12th St
Santa Monica, CA 90401
Pico


HIGHLIGHTS

  • Two-2BR/2BA townhomes. 1,600 S.F. each are suitable for owner to occupy
  • 13.7x Gross; 5.3% Cap with existing rents; 12.1x Gross and 6.2% Cap with rents at market
  • Value-Add: Plans are available to convert the garages to a 2BR/2BA unit

OVERVIEW

Two separate adjacent parcels (Parcel #4282-032-027 & 4282-032-028) consist of a duplex and fourplex, total 6-units. Buyer may be able to obtain two loans as high as 80% of price. Completely renovated, copper plumbing, updated electrical, fire places, hardwood floors, washers & dryers in all units, tiled kitchen and bathrooms. Prime Santa Monica, close to shops and restaurants on 3rd St promenade. The front lot consists of a duplex (2-2BR/2BA townhomes. 1,600 S.F. each are suitable for owner to occupy), the rear lot consists of a fourplex (4-1BR, 1BA units). 13.7 x Gross; 5.3% Cap with existing rents; 12.1 x Gross and 6.2% Cap with rents at market. Value-Add: Plans are available to convert the garages to a 2BR/2BA ADU.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$642 USD /SF

# OF UNITS

6

PRICE/UNIT

$583,333

CAP RATE

5.3%

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

SMBCD*

APN/PARCEL ID

4282-032-027,4282-032-028

ASK ABOUT THIS PROPERTY

Hamid SoroudiKW Commercial Beverly HillsMore Info
310-432-6547

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Hamid SoroudiKW Commercial Beverly HillsMore Info
310-432-6547

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