1247 Berkeley Street

Santa Monica, CA 90404

PRICE REDUCED

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-$225,000 (-6.77%)

$3,100,000

List Price

16

bed Beds

12

shower Baths

8,990 sqft

straighten / sqft

1961

calendar_month Built

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.

Listing Information

List Price $3,100,000
Status Active
MLS 24415558
Type Residential Income
Year Built 1961
Lot Size 8,133
Structure Size 8,990
DOM 81
Courtesy Of Realty Investment Advisors, Inc.
Listing Agent Benjamin J. Hsiang DRE#01438644
Co-Listing Agent Don Favia DRE#01841258

Interior Features

Total Bedroom
Bedrooms 16
Total Bathroom
Bathrooms 12
Cooling Type
Cooling Type None

Exterior Information

Maps

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 Oct 7th, 2024 at 5:44 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.