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1511 12th St 6 Unit Apartment Building $3,050,000 ($508,333/Unit) 5.83% Cap Rate Santa Monica, CA 90401
EXECUTIVE SUMMARY
REDUCED AGAIN, SELLER VERY MOTIVATED.
2 Properties Duplex and 4-plex, on seperate lots (APNs 4282–032–027, 028).
APN 4282-032-027 is a duplex with (2) 1,600 SF 2+2 Townhouses.
APN 4282-032-028 is four units, each featuring one bedroom and one bathroom. Two units are 500 square feet, while the other two are slightly larger at 625 square feet.
All units are updated and equipped with hardwood floors, separate bedrooms and kitchens, washer and dryers in unit. Parking is provided with four garages and one carport on-site. Four garages and the carport are rented separately for extra income. Street parking is ample. ADU Plans are underway to convert the garages into an additional unit.
*Fourplex is individually metered for gas.
*Duplex is Master metered for gas.
Offers need to be on seperate CAR forms as the entities selling each property are different but related.
Seller most likely needs closings to be contingent on each other closing. Individual pricing for each property is $1.6MM for duplex, $1.45MM for Fourplex. Price is firm. If a buyer only wants the front duplex, Seller may agree to $1.9MM, as complications exist: parking and utility meters are only on the rear lot, leases on front lot include parking.
NO BUY SIDE FEE INCLUDED AT LISTED PRICE. BUYER TO PLACE BUY SIDE FEE ON TOP OF LIST PRICE.
2 Properties Duplex and 4-plex, on seperate lots (APNs 4282–032–027, 028).
APN 4282-032-027 is a duplex with (2) 1,600 SF 2+2 Townhouses.
APN 4282-032-028 is four units, each featuring one bedroom and one bathroom. Two units are 500 square feet, while the other two are slightly larger at 625 square feet.
All units are updated and equipped with hardwood floors, separate bedrooms and kitchens, washer and dryers in unit. Parking is provided with four garages and one carport on-site. Four garages and the carport are rented separately for extra income. Street parking is ample. ADU Plans are underway to convert the garages into an additional unit.
*Fourplex is individually metered for gas.
*Duplex is Master metered for gas.
Offers need to be on seperate CAR forms as the entities selling each property are different but related.
Seller most likely needs closings to be contingent on each other closing. Individual pricing for each property is $1.6MM for duplex, $1.45MM for Fourplex. Price is firm. If a buyer only wants the front duplex, Seller may agree to $1.9MM, as complications exist: parking and utility meters are only on the rear lot, leases on front lot include parking.
NO BUY SIDE FEE INCLUDED AT LISTED PRICE. BUYER TO PLACE BUY SIDE FEE ON TOP OF LIST PRICE.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,050,000 | Apartment Style | Garden |
| Price Per Unit | $508,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.83% | Building Size | 5,448 SF |
| Gross Rent Multiplier | 11.91 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1959/2000 |
| Property Subtype | Apartment | Parking Ratio | 0.92/1,000 SF |
| Zoning | SMBCD* - mix of commercial and residential uses | ||
| Price | $3,050,000 |
| Price Per Unit | $508,333 |
| Sale Type | Investment |
| Cap Rate | 5.83% |
| Gross Rent Multiplier | 11.91 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 5,448 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1959/2000 |
| Parking Ratio | 0.92/1,000 SF |
| Zoning | SMBCD* - mix of commercial and residential uses |
AMENITIES
UNIT AMENITIES
- Tile Floors
- Hardwood Floors
SITE AMENITIES
- Courtyard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 500 - 600 |
| 2+2 | 2 | - | 1,500 - 1,600 |
Walk Score®
Very Walkable (83)
Transit Score®
Excellent Transit (74)
Bike Score®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 4282-032-028 | Improvements Assessment | $35,354 |
| Land Assessment | $194,508 | Total Assessment | $229,862 |
PROPERTY TAXES
Parcel Number
4282-032-028
Land Assessment
$194,508
Improvements Assessment
$35,354
Total Assessment
$229,862
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1511 12th St
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