1243 & 1247 12th St consist of two adjacent ten-unit apartment buildings located between Wilshire Blvd and Arizona Ave in prime Santa Monica, approximately 12 blocks from the beach. Built in 1959, the properties total 18,832 square feet of improvements on a 15,007-square-foot double lot with two separate APNs, offering long-term ownership, financing, and disposition flexibility. Each building is approximately 9,416 square feet, and together the portfolio features an attractive and highly functional 20-unit mix comprised of (4) 1-bed/1-bath, (5) 2-bed/1.5-bath, (8) 2-bed/2-bath, (1) 3-bed/1.5-bath, and (2) 3-bed/2-bath units. This balanced mix appeals to a wide renter base and positions the asset for long-term revenue growth as turnover occurs. The property provides 22 total parking spaces, including six tandem spaces in the front and ten standard spaces in the rear, along with controlled-access gated entry and on-site laundry facilities that generate consistent ancillary income. The soft-story seismic retrofit has been completed (buyer to verify). With strong underlying land value, scale, and below-replacement-cost pricing in one of the Westside's most supply-constrained submarkets, 1243 & 1247 12th St offer investors a rare opportunity to acquire two contiguous buildings in an irreplaceable coastal location with meaningful operational and appreciation upside.
The property consists of a 7,280 SF building situated on a 7,495 SF lot, built in 1958. The building consists of (4) 2-bed/1-bath and (6) 1-bed/1-bath units. Unit 5 is currently being renovated. New roof, new main and subpanels, new plumbing lines and new windows. Given the ideal location and in-place income, this is an excellent opportunity for an owner/user or a yield-focused investor to acquire an asset in Prime Santa Monica area.
The property consists of a 5,387 SF building situated on a 7,501 SF lot, built in 1960. The property consisting o two buildings with (2) 2-bed/1-bath and (5) 1-bed/1-bath units. Units A, B and D are currently being renovated. New roof, new main and subpanels, new plumbing lines and new windows. Given the ideal location and in-place income, this is an excellent opportunity for an owner/user or a yield-focused investor to acquire an asset in Prime Santa Monica area.
Reduced for a quick sale. The only Santa Monica deal with positive leverage (5.71% CAP on current). Exceptional investment opportunity featuring two separate parcels: a duplex and a fourplex, each with its own APN. Property Highlights: Unit Income: Townhouse's are leased until June 2026. All units are updated and equipped with hardwood floors, separate bedrooms and kitchens, washer and dryers in unit. Parking is provided with four garages and one carport on-site. 2 garages and the carport are included in leases. Street parking is ample. ADU Plans are underway to convert the garages into an additional unit.
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, 1.5-bath units, or 2 substantial 3-bed, 1.5-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 School One. 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.
Santa Monica is located in California. Santa Monica, California 90401has a population of 92,828. Santa Monica 90401 is less family-centric than the surrounding county with 27.41% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Santa Monica, California 90401 is $99,847. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Santa Monica 90401 is 41.4 years.
The average high temperature in July is 73.5 degrees, with an average low temperature in January of 49.3 degrees. The average rainfall is approximately 13.7 inches per year, with 0 inches of snow per year.
