1507 Berkeley Street presents a rare opportunity to acquire a boutique 7-unit townhome-style multifamily property in an A+ Mid-City Santa Monica location adjacent to Brentwood. Built in 1964, this attractive two-story property combines the privacy and residential feel of townhome living with oversized two- and three-bedroom floor plans in one… Read More of the Westside's highest-demand coastal rental markets. The property is part of an A+ located, five-building Westside portfolio totaling 60 units, available for acquisition individually or together as a portfolio. A defining feature of 1507 Berkeley Street is its two-story townhome-style design, with each residence benefiting from its own separate, private ground-level entrance, and select units featuring private outdoor patios. The property offers an exceptional unit mix consisting entirely of large two- and three-bedroom residences averaging approximately 1,106 square feet per unit, including one 3BR/1.5BA unit, five 2BR/1.5BA units and one 2BR/1BA unit. These spacious floor plans, combined with private entrances and select outdoor space, provide a compelling alternative to traditional apartment living. The property offers approximately 40% remaining rental upside, creating a significant opportunity for new ownership to increase income as units turn and rents are repositioned over time, within a supply-constrained coastal market. Additional property features include separately metered gas and electric, on-site parking consisting of a 2-car garage, (2) driveway spots and (5) covered spaces, and a completed seismic soft-story retrofit. Located in the heart of Mid-City Santa Monica and immediately adjacent to Brentwood, the property offers residents exceptional access to both communities. 1507 Berkeley Street is within walking distance of Erewhon, Bristol Farms and the restaurants, retail and nightlife along Santa Monica Boulevard, with convenient access to the beach, Downtown Santa Monica, West Los Angeles and the broader Westside. Note: The other properties comprising the five-building Westside portfolio are 1833 Westholme Avenue (16 units), 1811 S. Bentley Avenue (15 units), 1524 Granville Avenue (10 units), and 1518 & 1524 12th Street (12 units). The properties are available for acquisition separately or together as a portfolio. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Jake Glaser 310-259-7556
Listing Snapshot
Days Online
26
Last Updated
Beds
15
3/4 Baths
13
Square Ft.
7,740
Lot Size
0.19 Acres
Year Built
1964
MLS Number
26876171
Additional Details
Building
Built in 1964, Living area: 7740.0, 1 building, 2 stories, Levels: Two
Cooling
None
Heating
None
Income
Gross Income: $201,780, Net Operating Income: $120,391
Lot
0.1869 acres, Dimensions: 50x163
Parking
9 total parking spaces, Covered
Taxes
Parcel Number: 4267027003, Zoning: SMR2*
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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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