1247 Berkeley Street, Santa Monica, CA 90404
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Listed Price :
$3,325,000
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Beds :
16
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Baths :
12
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Property Size :
8,990 sqft
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Year Built :
1961
Property Description
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.
Interior Features
| Bedroom Information |
| Bedrooms |
16 |
| Bathroom Information |
| Bathrooms |
12 |
| Interior Information |
| Cooling Type |
None |
Listing Information
| Address |
1247 Berkeley Street |
| City |
Santa Monica |
| State |
CA |
| Zip |
90404 |
| County |
Los Angeles |
| Listing Agent |
Benjamin J. Hsiang DRE #01438644 |
| Co-Listing Agent |
Don Favia DRE #01841258 |
| Courtesy Of |
Realty Investment Advisors, Inc. |
| List Price |
$3,325,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
8,990 |
| Lot Size |
8,133 |
| Year Built |
1961 |
Listing information courtesy of: Benjamin J. Hsiang, Don Favia, Realty Investment Advisors, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Aug 28th, 2024 at 9:10 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
