Highly renovated 20-unit building 1428 12th St 20 Unit Apartment Building $9,295,000 ($464,750/Unit) 5.18% Cap Rate Santa Monica, CA 90401

Rob Renshaw and Jonathan Taksa of The Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, are pleased to present a generational multifamily offering in the seaside enclave of Santa Monica. Set prominently along a tree-lined street, 1424–1428 12th Street is a trophy asset consisting of 20, oversized compared to market, units and beautifully landscaped grounds.
Encompassing 17,880 SQFT and situated on a very large lot, tenants can choose from one of 2 oversized studio units, 16 large 2-bed, 1½-bath units, or 2 substantial 3-bed, 1½-bath townhouse units. Each of these units has a great floor plan flooded with natural light. 14 units have been luxuriously upgraded and tastefully appointed with an in-unit washer and dryer (select units), new hardwood flooring, stainless steel appliances, quartz countertops, and LED lighting. Additionally, the property has an on-site laundry facility and ample assigned parking (soft story retrofit work has been completed, Buyer to verify). The property also includes new construction windows, new roofing and gutters, a custom stucco facade, and more.
A quick stroll to the beautiful beach, downtown Santa Monica, and the high-end dining and shopping of Montana Avenue and 3rd Street Promenade, 1424–1428 12th Street is close to all Santa Monica has to offer. The property is also situated just across the street from one of Santa Monica’s top private elementary schools, Pluralistic School One. With fantastic in-place income, enormous upside potential, and a secured tenant base, the property gives buyers the opportunity to own a generational asset in one of the most prized and coveted locations in Los Angeles.