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1050 12th St 10 Unit Apartment Building $3,800,000 ($380,000/Unit) 4.39% Cap Rate Santa Monica, CA 90403
INVESTMENT HIGHLIGHTS
- 2024 new roof & gutters
- 2025 new electrical panels
EXECUTIVE SUMMARY
Invest in one of Santa Monica's most sought-after corridors. Located in the heart of Wilshire-Montana on a charming tree-lined stretch of 12th Street, this 10-unit apartment building offers a desirable mix of 1-bedroom, and 2-bedroom units. New Roof, new gutters and new sub-panels in 2024 and 2025. Tenants enjoy immediate access to the vibrant offerings on Montana Avenue just a few blocks away, where boutique shopping, cozy cafes, and some of the Westside's best dining create a true neighborhood experience. Easy access to Palisades Park and the beach. This is an ideal opportunity for investors seeking long-term value in a trophy coastal location with consistent tenant demand, well-maintained interiors, and the potential for rent upside. One unit delivered vacant.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$250,044
|
$35.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$250,044
|
$35.38
|
| Taxes |
$33,569
|
$4.75
|
| Operating Expenses |
$63,130
|
$8.93
|
| Total Expenses |
$96,699
|
$13.68
|
| Net Operating Income |
$153,345
|
$21.70
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $250,044 |
| Annual Per SF | $35.38 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $250,044 |
| Annual Per SF | $35.38 |
| Taxes | |
|---|---|
| Annual | $33,569 |
| Annual Per SF | $4.75 |
| Operating Expenses | |
|---|---|
| Annual | $63,130 |
| Annual Per SF | $8.93 |
| Total Expenses | |
|---|---|
| Annual | $96,699 |
| Annual Per SF | $13.68 |
| Net Operating Income | |
|---|---|
| Annual | $153,345 |
| Annual Per SF | $21.70 |
PROPERTY FACTS
| Price | $3,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $380,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4.39% | Building Size | 7,068 SF |
| Gross Rent Multiplier | 16.41 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 0.3/1,000 SF |
| Zoning | R3, Santa Monica - Multiple Residential | ||
| Price | $3,800,000 |
| Price Per Unit | $380,000 |
| Sale Type | Investment |
| Cap Rate | 4.39% |
| Gross Rent Multiplier | 16.41 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,068 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 0.3/1,000 SF |
| Zoning | R3, Santa Monica - Multiple Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $13,352 | 700 |
| 2+1 | 3 | $7,485 | 700 |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 4281-021-010 | Total Assessment | $2,798,075 (2025) |
| Land Assessment | $1,990,507 (2025) | Annual Taxes | $33,569 ($4.75/SF) |
| Improvements Assessment | $807,568 (2025) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
4281-021-010
Land Assessment
$1,990,507 (2025)
Improvements Assessment
$807,568 (2025)
Total Assessment
$2,798,075 (2025)
Annual Taxes
$33,569 ($4.75/SF)
Tax Year
2024 Payable 2024
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1050 12th St
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