1523 Berkeley St is a five-unit multifamily property located in a prime Santa Monica location, steps from Wilshire Blvd, within walking distance of Montana Ave, and a short distance from Lionsgate, Hulu, and the Colorado Ave entertainment corridor. Built in 1957 and situated on an 8,139 SF lot, the property… Read More consists of one 2-bedroom, 1-bath front house and four 1-bedroom, 1-bath units, along with five detached garages, a laundry room, and a central courtyard. Three of the units have been updated during prior tenant turnovers. One 1-bedroom unit and one garage will be delivered vacant, giving the next owner immediate flexibility to select their own tenant and capture current market rent. The property's large lot, courtyard setting, and five detached garages also provide additional long-term value-add potential. Offered at $1,725,000, the property is currently operating at a 5.37% cap rate and 12.20 GRM, equating to $345,000 per unit and approximately $458 per square foot. Three Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., David Messiah 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Beds
6
3/4 Baths
5
Square Ft.
3,766
Lot Size
0.19 Acres
Year Built
1957
MLS Number
26986521
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1957, Living area: 3766.0, 1 building, 2 stories, Levels: Two
Cooling
None
Heating
FloorFurnace
Income
Gross Income: $141,420, Net Operating Income: $92,646
Lot
0.1868 acres
Taxes
Parcel Number: 4267027010, 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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