FOR SALE: 12 Unit Apartment (3 Buildings)
Santa Monica, Ca
Santa Monica Twelve (The Property) is a 12-unit multifamily building in Santa Monica, California. The Property consists of (9) 1bd/1ba and (3) 2bd/1ba units in three single-story buildings, sitting on two separate parcels totaling 28,829 SF.
The building was built in 1940 and constructed with a wood frame, stucco finish and flat roof. With several open parking spaces onsite, the owners currently rent eight garages in the rear as additional income. The property is currently 92% leased with rents significantly below market allowing a potential buyer huge upside in the investment.
Located in the City of Santa Monica, the property is in the Sunset Park area; which has been rated one of the top rental markets in the nation. Shopping and restaurants are within walking distance and the area boasts an 81 Walk Score®.
- 12 Total Units – (9) 1 Bedrooms and (3) 2 Bedroom
- 8,796 SF Total Building Size
- 28,829 SF (0.66 Acres) Total Lot Size
- Built in 1940
- 19.81 GRM and 3.14% CAP on current rents