1223 23rd Street

Santa Monica, CA 90404

$2,995,000
Price
9
Beds
8
Baths
5,304 Sq. Ft.
$565 / Sq. Ft.
5,304
Sq. Ft.
$565
per Sq. Ft.

Description

Don't miss this rare opportunity to own a one of a kind fourplex in a highly sought after Santa Monica neighborhood! This property boasts a front unit ideal for an owner-user, designed as a spacious 2-level townhouse with all the comforts of a home. The 3 bedroom & 2 bath unit features a large primary bedroom with sitting area and convenient ensuite bath on the first floor with the other two large bedrooms and one bath on the second floor all with ample closet space. A dedicated washer and dryer...Don't miss this rare opportunity to own a one of a kind fourplex in a highly sought after Santa Monica neighborhood! This property boasts a front unit ideal for an owner-user, designed as a spacious 2-level townhouse with all the comforts of a home. The 3 bedroom & 2 bath unit features a large primary bedroom with sitting area and convenient ensuite bath on the first floor with the other two large bedrooms and one bath on the second floor all with ample closet space. A dedicated washer and dryer room with back door as well as a 1-car garage provides secure parking and storage space. The remaining 3 units each offer 2 bedrooms and 1.5 bathrooms with balcony. All 4 units have beautifully renovated open kitchens, stainless steel appliances, tile, wood flooring and overall fantastic layouts providing comfortable living spaces.. The property offers private gated entrances with keyless entry as well as a digital door lock for each unit. A shared laundry room on site adds convenience for all residents. The building underwent a seismic soft story retrofit in 2020. This property's ideal proximity to the area's finest amenities, from trendy shops and restaurants to parks and just a short distance to Whole Foods and Trader Joe's makes this the ideal lucrative investment and a place to call home.

Property Details for 1223 23rd Street

Zoning
SMR2*
Parcel Number
4276017029
Total Units
4.0
Living Area
5304
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
0
Lot Size Area
5326

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258
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LISTING UPDATED: 05/13/2024 04:12 PM

Property Details for 1223 23rd Street

StatusActive
MLS #24-370605
Days on Market60
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
Lot Size0.12 AC / 5,326 SF
CountyLos Angeles County

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258
Add your commute

Building Information for 1223 23rd Street

Stories2Residences-Year Built1961Building Size-Lot Size0.12 AC / 5,326 SF

Payment Calculator

$18,128 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,345

Property Taxes

$1,783

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1223 23rd Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $75,706
  • Net Operating Income: $124,388.00
  • Gross Income: $181,140
  • Cap Rate: 4.15%
  • Gross Rent Multiplier: $16.53
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 51318
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1223
  • Lot Size Square Feet: 5326
Parking Details
Parking Details
  • Parking Garage: Driveway, Carport Attached, Garage - 1 Car
  • Total Parking: 5
  • Parking Features: Driveway, Attached Carport, Garage - Single Door
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Refrigerator, Range/Oven, Dishwasher
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-21-2024
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,400.00
  • Unit Actual Rent: $4,400.00
  • Unit Projected Rent: $4,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,795.00
  • Unit Actual Rent: $3,795.00
  • Unit Projected Rent: $3,795.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,400.00
  • Unit Actual Rent: $3,400.00
  • Unit Projected Rent: $3,795.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $3,500.00
  • Unit Projected Rent: $3,795.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $643,876.00
  • Assessed Improvement Percent: 37.04
  • Assessed Land Value: $1,094,594.00
  • Assessed Land Percent: 62.96
  • Assessed Total Value: $1,738,470.00

Property History for 1223 23rd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1223 23rd Street

Taxable ValueLand$1,094,594Additions$643,876Total$1,738,470
Tax Record2023$21,398 ($1,783 / month)
Home Facts
Total Finished SqFt5,304 SqFtAbove Grade Finished SqFt5,304 SqFtLot Size5,326 SqFtStyleQuadraplexYear Built1961ZoningSMR2*CountyLOS ANGELESAPN4276-017-029

Schools near 1223 23rd Street

This home is within Santa Monica-Malibu Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
McKinley Elementary School
PublicK to 5

Lincoln Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Olympic High (Continuation) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1223 23rd Street is a multi-family home for sale in Santa Monica, CA 90404. This property was listed for sale on March 21, 2024 by Realty Investment Advisors, Inc., it's currently listed at $2,995,000. It has been on the market for a total of 60 days and was last sold on May 21, 2007. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include McKinley Elementary School, Lincoln Middle School and Santa Monica High School. 1223 23rd Street is a 9-bed, 8-bath, 5,304 sqft multi-family home built in 1961.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.