1243 12th Street,Santa Monica, CA 90401
Santa Monica, CA 90401
Description
1243 & 1247 12th St consist of two adjacent ten-unit apartment buildings located between Wilshire Blvd and Arizona Ave in prime Santa Monica, approximately 12 blocks from the beach. Built in 1959, the properties total 18,832 square feet of improvements on a 15,007-square-foot double lot with two separate APNs, offering long-term ownership, financing, and disposition flexibility. Each building is approximately 9,416 square feet, and together the portfolio features an attractive and highly functional 20-unit mix comprised of (4) 1-bed/1-bath, (6) 2-bed/1.5-bath, (6) 2-bed/2-bath, (2) 3-bed/1.5-bath, and (2) 3-bed/2-bath units. This balanced mix appeals to a wide renter base and positions the asset for long-term revenue growth as turnover occurs. The property provides 22 parking spaces, including six tandem spaces at the front and ten standard spaces at the rear, along with a controlled-access, gated entry and on-site laundry facilities. The soft-story seismic retrofit has been completed (buyer to verify). Priced at an attractive basis compared to recent sale comparables at $327k/unit and $428/square-foot, with strong underlying land value and scale in one of the Westside's most supply-constrained submarkets. 1243 & 1247 12th St offer investors a rare opportunity to acquire two contiguous buildings in an irreplaceable coastal location with meaningful operational and appreciation upside.
Details
| MLS # | 25630313 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1959 |
| Days On Site | 246 |
| Listing Provided By | Marcus & Millichap | Benjamin Lewin |
Features
| Bed(s) | 36 |
|---|---|
| Bath(s) | 36 |
| SQ Feet | 18,832 |
| Story(s) | 2 |
| Units | 20 |
| Building(s) | 2 |
| Zoning | SMR3* |
| Acreage | 0.34 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
Parking
| Parking Features | Covered, Driveway |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90401 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90401) | |
Price: $5,250,000 low | high Med: $5,047,500 sqft: 18,832 low | high Med: 4,702 $ / sqft: $279 low | high Med: $1,074 On site: 246 low | high Med: 105.5 | |
Market Activity 90401
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90401 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90401) | |
Price: $5,250,000 low | high Med: $5,047,500 sqft: 18,832 low | high Med: 4,702 $ / sqft: $279 low | high Med: $1,074 On site: 246 low | high Med: 105.5 | |
 | $5,300,0001518 12th StreetSanta Monica, CA 90401 |