1243 12th ST, Santa Monica, CA 90401
1243 12th ST, Santa Monica, CA 90401
1243 12th ST, Santa Monica, CA 90401
1243 12th ST, Santa Monica, CA 90401
1243 12th ST, Santa Monica, CA 90401
1243 12th ST, Santa Monica, CA 90401
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Sam Mu

Sam Mu

+1(949) 258-2228
$ 5,250,000
Est. payment | /mo

36 Beds

36 Baths

18,832 SqFt

Save
$ 5,250,000
Est. payment | /mo
Save

36 Beds

36 Baths

18,832 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 18,832 sqft

Price per Sqft $278

MLS Listing ID 25630313

Bedrooms 36

HOA Y/N No

Year Built 1959

Lot Size 0.344 Acres

Property Description

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, (6) 2-bed/1.5-bath, (6) 2-bed/2-bath, (2) 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 parking spaces, including six tandem spaces at the front and ten standard spaces at the rear, along with a controlled-access, gated entry and on-site laundry facilities. The soft-story seismic retrofit has been completed (buyer to verify). Priced at an attractive basis compared to recent sale comparables at $327k/unit and $428/square-foot, with strong underlying land value and scale 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.

Location

State CA

County Los Angeles

Area C14 - Santa Monica

Zoning SMR3*

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features Covered, Driveway

Total Parking Spaces 22

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4282005018

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Benjamin Lewin Marcus & Millichap #02040686

Nearby Locations

Sam Mu

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 258-2228

sammuteam@gmail.com

880 Roosevelt Suite 250, Irvine, California, 92620, United States

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1243 12th ST