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$ 3,995,000
Est. payment /mo
New
1117 12th ST Santa Monica, CA 90403
17 Beds
14 Baths
9,636 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,636 sqft
Price per Sqft $414
MLS Listing ID 26105666
Bedrooms 17
HOA Y/N No
Year Built 1960
Lot Size 7,501 Sqft
Property Description
A rare opportunity to combine Santa Monica living with ownership of an income-producing multifamily property in the highly desirable Wilshire-Montana neighborhood. This 11-unit apartment building featuring seven 1-bedroom/1-bath units, three 2-bedroom/2-bath units, and one spacious 3-bedroom/2-bath unit. The approximately 9,636-square-foot building sits on a 7,499-square-foot lot in one of Santa Monica's most desirable residential locations. The property's 3-bedroom/2-bath unit is currently available, creating a unique opportunity for a buyer who would like to live on-site while receiving rental income from the other ten apartments. For an owner-user, this offers the benefits of a larger residence in Santa Monica together with the financial advantages of owning a substantial income-producing asset. If owner occupancy is not desired, the available 3-bedroom residence may instead be leased at the then-current market rent, subject to applicable Santa Monica rental regulations.The property also provides additional future income opportunities. Four garages at the front of the property are retained by ownership and may potentially be rented separately for additional income. A buyer may also evaluate whether the garages could be converted into ADU's, subject to City approval and all applicable requirements.Tenants currently park in front of the garage area, which may provide additional flexibility when evaluating future use of the garage structures. Another important benefit is that the property has already completed its earthquake/seismic retrofit and the state-required balcony inspection, addressing significant building compliance items for the next owner. The property is just north of Wilshire Boulevard and convenient to Montana Avenue shopping and restaurants, Downtown Santa Monica, Third Street Promenade, Santa Monica Beach, UCLA Santa Monica Medical Center, and nearby Brentwood. 1117 12th Street presents a distinctive opportunity to own a substantial Santa Monica income property while enjoying the option to make the property your home.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Appliance Disposal, Refrigerator
Laundry Common Area
Exterior
Parking Features Driveway Down Slope From Street
Garage Spaces 4.0
Garage Description 4.0
Total Parking Spaces 11
Building
Story 3
Entry Level Two
Sewer Other
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4281019017
Special Listing Condition Standard
Listed by Irma Vargas Tierra Properties #00467438
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