We are pleased to offer this 6-unit apartment complex in prime Santa Monica. Built in 1961, the property features 8,990 square feet of living space and has undergone a soft story retrofit in compliance with the City of Santa Monica. Priced to sell at only $369 per foot, the property boasts a great unit mix: two 2-bedroom/1.75-bathroom units and four 3-bedroom/1.75-bathroom units. These very large units average approx. 1,500 SQFT each.Each unit features a combination of hardwood, carpet, and tile flooring, as well as a private balcony. Additionally, the rear three-bedroom apartment includes a large patio and a fourth separate bedroom/den. The property offers a total of 9 parking spaces (7 unique spaces), and each unit is individually metered for gas and electricity. The property will be delivered with at least one vacant unit.Located in the heart of Santa Monica and just half a block from Wilshire, this property provides easy access to many high-end urban amenities. It is also just minutes from the beach, Montana Ave, Third Street Promenade, and Venice Boardwalk, epitomizing the Southern California coastal lifestyle. Property offered at 12.96 GRM and 5.40% CAP, unprecedented for such an efficient, value-add product. ACT FAST! This property offers substantial rental growth potential, making it an excellent investment opportunity in a sought-after location.
Property Details
Price:
$3,325,000
MLS #:
24415558
Status:
Active
Baths:
0
Address:
1247 Berkeley Street
Type:
Residential Income
Neighborhood:
c14santamonica
City:
Santa Monica
Listed Date:
Jul 18, 2024
State:
CA
ZIP:
90404
Lot Size:
8,133 sqft / 0.19 acres (approx)
Year Built:
1961
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Schools
Interior
Cooling
None
Heating
Wall Furnace
Exterior
Parking Features
Carport, Driveway – Combination
Parking Spots
0.00
Stories Total
2
Financial
Map
Community
- Address1247 Berkeley Street Santa Monica CA
- AreaC14 – Santa Monica
- CitySanta Monica
- CountyLos Angeles
- Zip Code90404
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Courtesy of Realty Investment Advisors, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1247 Berkeley Street
Santa Monica, CA
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