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Multifamily

1144 12th St

1144 12th St, Santa Monica, CA 90403

Listing Price: $10,250,000

Cap Rate
3.66%
Number of Units
20
Price/Unit
$512,500
Price/Gross SF
$499.68
Gross SF
20,513

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire 1144 12th Street, a 20-unit multifamily investment located in the supply constrained beach front city of Santa Monica, CA. The property features 20,513 square feet of rentable area and is situated on a 15,013-square foot lot. The 20-unit building is composed of two bachelor/one-bathroom units, four one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, three two-bedroom/two-bathroom units and ten three-bedroom/two-bedroom units. The building has been well-maintained and offers on-site parking and laundry facilities for tenants. The property is situated in one of the trendiest locations in Los Angeles, sitting just north of Wilshire Boulevard, sandwiched between 11th Street to the west and Euclid Street to the east. This prime location offers a tremendous amount of dining, shopping, and entertainment destinations in walking distance of the property, while being a short commute to major employment centers such as Brentwood, Beverly Hills, West Hollywood, Venice Beach, and Culver City. 1144 12th Street provides a qualified investor with the rare opportunity to acquire an irreplaceable asset in the highly desirable beach front neighborhood of Santa Monica.

Investment Highlights

  • Excellent Unit Mix Composed of One-Bedroom, Two-Bedroom, and Three-Bedroom Units -Well Suited for Today's Market.
  • Three ADU's Delivered Legal at the Close of Escrow.
  • Subject Property is Subject to Rent and Income Restrictions Imposed on June 28th, 1995 for 55 Years (29 Years Remaining).
  • 1144 12Th Street Offers Investors Significant Upside in Rental Income Via Interior and Common Area Renovations - Current Loss-to-Lease Approx. 25%.
  • 1990's Construction | Offering On-Site Parking and Laundry Facilities for Tenants.

Exclusively Listed By

Financing By

Multifamily

1144 12th St

Listing Price: $10,250,000

Cap Rate
3.66%
Number of Units
20
Price/Unit
$512,500
Price/Gross SF
$499.68
Gross SF
20,513

Investment Highlights

  • Excellent Unit Mix Composed of One-Bedroom, Two-Bedroom, and Three-Bedroom Units -Well Suited for Today's Market.
  • Three ADU's Delivered Legal at the Close of Escrow.
  • Subject Property is Subject to Rent and Income Restrictions Imposed on June 28th, 1995 for 55 Years (29 Years Remaining).
  • 1144 12Th Street Offers Investors Significant Upside in Rental Income Via Interior and Common Area Renovations - Current Loss-to-Lease Approx. 25%.
  • 1990's Construction | Offering On-Site Parking and Laundry Facilities for Tenants.

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire 1144 12th Street, a 20-unit multifamily investment located in the supply constrained beach front city of Santa Monica, CA. The property features 20,513 square feet of rentable area and is situated on a 15,013-square foot lot. The 20-unit building is composed of two bachelor/one-bathroom units, four one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, three two-bedroom/two-bathroom units and ten three-bedroom/two-bedroom units. The building has been well-maintained and offers on-site parking and laundry facilities for tenants. The property is situated in one of the trendiest locations in Los Angeles, sitting just north of Wilshire Boulevard, sandwiched between 11th Street to the west and Euclid Street to the east. This prime location offers a tremendous amount of dining, shopping, and entertainment destinations in walking distance of the property, while being a short commute to major employment centers such as Brentwood, Beverly Hills, West Hollywood, Venice Beach, and Culver City. 1144 12th Street provides a qualified investor with the rare opportunity to acquire an irreplaceable asset in the highly desirable beach front neighborhood of Santa Monica.

Exclusively Listed By

Financing By

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