1511 12th St - Apartments FOR SALE


Santa Monica, CA 90401- Pico
$3,050,000 USD
310-980-4562
1511 12th St, Santa Monica, CA for Sale
$3,050,000 USD
Apartments - FOR SALE
1/50
null | 5.83% Cap Rate

1511 12th St
Santa Monica, CA 90401
Pico


HIGHLIGHTS

  • Excellent Location on 12th Street in Santa Monica
  • 5.83% Cap on current
  • Duplex and 4-plex on seperate parcels sold together
  • 5 parking adds extra income
  • 100% Occupied
  • Plans for a 2+2 ADU in the garages

OVERVIEW

REDUCED AGAIN, SELLER VERY MOTIVATED. 2 Properties Duplex and 4-plex, on seperate lots (APNs 4282–032–027, 028). APN 4282-032-027 is a duplex with (2) 1,600 SF 2+2 Townhouses. APN 4282-032-028 is four units, each featuring one bedroom and one bathroom. Two units are 500 square feet, while the other two are slightly larger at 625 square feet. All units are updated and equipped with hardwood floors, separate bedrooms and kitchens, washer and dryers in unit. Parking is provided with four garages and one carport on-site. Four garages and the carport are rented separately for extra income. Street parking is ample. ADU Plans are underway to convert the garages into an additional unit. *Fourplex is individually metered for gas. *Duplex is Master metered for gas. Offers need to be on seperate CAR forms as the entities selling each property are different but related. Seller most likely needs closings to be contingent on each other closing. Individual pricing for each property is $1.6MM for duplex, $1.45MM for Fourplex. Price is firm. If a buyer only wants the front duplex, Seller may agree to $1.9MM, as complications exist: parking and utility meters are only on the rear lot, leases on front lot include parking. NO BUY SIDE FEE INCLUDED AT LISTED PRICE. BUYER TO PLACE BUY SIDE FEE ON TOP OF LIST PRICE.

FOR SALE DETAILS

PRICE

$3,050,000 USD

PRICE/SF

$560 USD /SF

# OF UNITS

6

PRICE/UNIT

$508,333

CAP RATE

5.83%

% LEASED

100%

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

Peter CirielloLA CommercialMore Info
310-980-4562

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Peter CirielloLA CommercialMore Info
310-980-4562

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