Active
1247 Berkeley Street
Santa Monica CA, 90404
$3,325,000
$369.86 per sqft
Active
16 Beds
12 Baths
8,990 sqft
Residential
Built in 1961
Listed by Benjamin J. Hsiang with Realty Investment Advisors, Inc. 424-377-6001
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.
24415558
MLSⓇ ID
July 18, 2024
Listed
August 30, 2024
Updated
Map
1247 Berkeley Street
Santa Monica CA, 90404
Interior Features
Total Stories
2
Bedrooms
16
Total Bathrooms
12
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.19 Acres
Other Property Details
Area Name
C14 - Santa Monica
Days on Market
41
Garage
No
Parking
Carport, Driveway
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
SMR2*
Listing Contact:
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Data last updated on 8/30/2024 at 7:09 PM UTC