1428 12th Street

Santa Monica, CA 90401

$10,995,000
Price
38
Beds
38
Baths
17,880 Sq. Ft.
$615 / Sq. Ft.
17,880
Sq. Ft.
$615
per Sq. Ft.

Description

We are pleased to present a generational multifamily offering in the seaside enclave of Santa Monica. Set prominently along a tree-lined street, 1424-1428 12th Street is a trophy asset consisting of 20, oversized compared to market, units and beautifully landscaped grounds. Encompassing 17,880 SQFT and situated on a very large lot, tenants can choose from one of 2 oversized studio units, 16 large 2-bed, 1-bath units, or 2 substantial3-bed, 1-bath townhouse units. Each of these units has a great floor...We are pleased to present a generational multifamily offering in the seaside enclave of Santa Monica. Set prominently along a tree-lined street, 1424-1428 12th Street is a trophy asset consisting of 20, oversized compared to market, units and beautifully landscaped grounds. Encompassing 17,880 SQFT and situated on a very large lot, tenants can choose from one of 2 oversized studio units, 16 large 2-bed, 1-bath units, or 2 substantial3-bed, 1-bath townhouse units. Each of these units has a great floor plan flooded with natural light. 14 units have been luxuriously upgraded and tastefully appointed with an in-unit washer and dryer (select units), new hardwood flooring, stainless steel appliances, quartz countertops, and LED lighting. Additionally, the property has an on-site laundry facility and ample assigned parking (soft story retrofit work has been completed, Buyer to verify). The property also includes new construction windows, new roofing and gutters, a custom stucco facade, and more. A quick stroll to the beautiful beach, downtown Santa Monica, and the high-end dining and shopping of Montana Avenue and 3rd Street Promenade, 1424-1428 12th Street is close to all Santa Monica has to offer. The property is also situated just across the street from one of Santa Monica's top private elementary schools, Pluralistic SchoolOne. With fantastic in-place income, enormous upside potential, and a secured tenant base, the property gives buyers the opportunity to own a generational asset in one of the most prized and coveted locations in Los Angeles.
  1. Listed by Jonathan Taksa • DRE #01366169 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty
  2. Listed by Robert Renshaw • DRE #01332831 • Brokerage DRE #01164364 • REMAX COMMERCIAL & INVESTMENT REALTY

Property Details for 1428 12th Street

Zoning
SMR3*
Parcel Number
4282024027
Total Units
20.0
Living Area
17880
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
3%
Lot Size Area
15009
LISTING UPDATED: 11/19/2024 08:58 AM

Property Details for 1428 12th Street

StatusActive
MLS #24-465105
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.34 AC / 15,009 SF
CountyLos Angeles County

Building Information for 1428 12th Street

Stories2Residences-Year Built1963Building Size-Lot Size0.34 AC / 15,009 SF

Property Information for 1428 12th Street

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: S,2s,3s
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $725,570
  • Net Operating Income: $456,647.00
  • Gross Income: $724,970
  • Gross Rent Multiplier: $15.15
  • Total Annual Expense: 247174
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.3446
  • Lot Size Square Feet: 15009
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 20
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Engineered Hardwood
  • Equipment: Dishwasher, Garbage Disposal, Microwave, Refrigerator, Range/Oven, Ceiling Fan
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-19-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,713.00
  • Unit Actual Rent: $7,426.00
  • Unit Projected Rent: $9,600.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,027.00
  • Unit Actual Rent: $48,427.00
  • Unit Projected Rent: $64,000.00
  • Like Units: 16
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,281.00
  • Unit Actual Rent: $4,561.00
  • Unit Projected Rent: $4,800.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,968,562.00
  • Assessed Improvement Percent: 20.45
  • Assessed Land Value: $7,655,521.00
  • Assessed Land Percent: 79.55
  • Assessed Total Value: $9,624,083.00

Property History for 1428 12th 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 1428 12th Street

Taxable ValueLand$7,808,631Additions$2,008,033Total$9,816,664
Tax Record2024$116,437 ($9,703 / month)
Home Facts
Total Finished SqFt17,880 SqFtAbove Grade Finished SqFt17,880 SqFtLot Size15,004 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningSMR3*CountyLOS ANGELESAPN4282-024-027

Schools near 1428 12th 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
Roosevelt 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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1428 12th Street is a multi-family home for sale in Santa Monica, CA 90401. This property was listed for sale on November 19, 2024 by Remax Commercial and Investment Realty, it's currently listed at $10,995,000. It has been on the market for a total of 1 days and was last sold on February 15, 2018. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include Roosevelt Elementary School, Lincoln Middle School and Santa Monica High School. 1428 12th Street is a 38-bed, 38-bath, 17,880 sqft multi-family home built in 1963.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169; REMAX COMMERCIAL & INVESTMENT REALTY, Robert Renshaw, DRE #01332831

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.