Active
817 12th Street
Santa Monica CA, 90403
$5,125,000
$481.72 per sqft
Active
10,639 sqft
Condo
Built in 1966
Listed by Warren Berzack with Lee & Associates 818-986-9800
With its phenomenal location just south of Montana Avenue, the 12th Street Apartments is a fantastic reposition opportunity. There are currently 4 vacant apartments that can be renovated and rented shortly after closing. With ample parking, an oversized lot, and just 12 short blocks from Inspiration Point and Palisades Park, this property is ripe with options. Please note there is a deed restriction on the existing 11 units with the City of Santa Monica requiring units to be rented to 30% AMI Households. However, Section 8 program tenants qualify and this allows for the units to be rented close to market with the the Section 8 program paying the bulk of their rent. (Buyer to independently verify.) Importantly there is also the potential to add multiple non-rent-restricted ADUs given the garages located both in front and back of the building. The property is currently on the City of Santa Monica soft-story retrofit list and completion of the soft-story retrofit can occur concurrently with the ADU construction. Buyer to verify all of the above with the City of Santa Monica. (Please note the retofit due date was September 2023, per the City's website.)
SR24031982
MLSⓇ ID
February 13, 2024
Listed
March 28, 2024
Updated
Map
817 12th Street
Santa Monica CA, 90403
Interior Features
Total Stories
3
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.17 Acres
Lot Features
Landscaped
Sewer
Public Sewer
Other Property Details
Area Name
C14 - Santa Monica
Days on Market
36
Garage
Yes
Garage Spaces
6
Parking
Assigned
Parking Total
16
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
SMR2*
Buyer Agency Compensation
2%
Listing Contact: 818-986-9800
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/28/2024 at 3:36 PM UTC