Located just south of Pico Boulevard and north of Olympic, 1810 12th Street offers investors a stabilized, income-producing property in one of Santa Monica's most desirable neighborhoods. This well-maintained 2-story building, built in 1963, features seven units totaling 13 bedrooms and 7 bathrooms across approximately 5,190 square feet of living… Read More space on a 7,516 square foot lot. The unit mix includes three 2-bedroom units, one 3-bedroom unit, and three 1-bedroom units. The 3-bed/1-bath unit will be delivered vacant at closing, providing immediate potential for an owner-user or market-rate rental. Current gross annual income is approximately $193,992 with an NOI of $157,010, reflecting a GRM of 12.89 and a cap rate of 6.28%. All units are separately metered for gas and electricity. Parking includes 4 covered carport spaces plus additional uncovered spaces with alley access. Just minutes from the beach, Bergamot Arts District, the Expo Line, and a variety of shopping, dining, and employment hubs, this property presents an exceptional long-term hold or value-add opportunity in a prime Santa Monica location. Read Less
Property listed by ENGEL & VÖLKERS Santa Monica, Sandra Miller 310-460-2525
Listing Snapshot
Days Online
17
Last Updated
Property Type
Other
Beds
13
Square Ft.
5,190
Lot Size
0.17 Acres
Year Built
1963
MLS Number
25575313
30 Days Snapshot Of 90404
$886k
-1%
(avg) sold price
5
+25%
homes sold
57
-22%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1963, Building area total: 5,190, Levels: One, Living area: 5190, 1 story, 1 building, Architectural style: , Attached, Common walls: OneCommonWall
Cooling
None
Accessibility Features
Accessibility features: None
Fireplaces
None
Heating
Electric
Income
Gross income: $196,492, Net operating income: $159,510
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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