$ 3,100,000
1247 Berkeley ST Santa Monica, CA 90404
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$ 3,100,000
Est. payment /mo
Price Dropped by $225K
1247 Berkeley ST Santa Monica, CA 90404
16 Beds
12 Baths
8,990 SqFt
UPDATED:
10/07/2024 05:44 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,990 sqft
Price per Sqft $344
MLS Listing ID 24415558
Bedrooms 16
HOA Y/N No
Year Built 1961
Lot Size 8,132 Sqft
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 exceptional 12.08 GRM and 5.88% 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.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Garage Carport, Driveway
Parking Type Carport, Driveway
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4267002021
Special Listing Condition Standard
Listed by Benjamin J. Hsiang • Realty Investment Advisors, Inc.