1247 Berkeley Street
$3,100,000
16
12
8,990
8,990
$345
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...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.
- Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
- Listed by Don Favia • DRE #01841258 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
Property Details for 1247 Berkeley Street
Zoning
SMR2*
Parcel Number4267002021
Total Units6.0
Living Area8990
Source Living AreaVendor Enhanced
AreaSanta Monica (C14)
Vacancy Rate2
Lot Size Area8133
LISTING UPDATED: 10/07/2024 10:29 AM
Property Details for 1247 Berkeley Street
Status | Active |
---|---|
MLS # | 24-415558 |
Days on Market | 114 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1961 |
Lot Size | 0.19 AC / 8,133 SF |
County | Los Angeles County |
Building Information for 1247 Berkeley Street
Stories2Residences-Year Built1961Building Size-Lot Size0.19 AC / 8,133 SF
Property Information for 1247 Berkeley Street
Property History for 1247 Berkeley Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1247 Berkeley Street
Taxable ValueLand$2,284,800Additions$979,200Total$3,264,000
Tax Record2024$39,774 ($3,314 / month)
Home Facts
Total Finished SqFt8,990 SqFtAbove Grade Finished SqFt8,990 SqFtLot Size8,131 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningSMR2*CountyLOS ANGELESAPN4267-002-021
Schools near 1247 Berkeley 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.
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