CA > Santa Monica
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 90401,1243 12th ST
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James Olvera

James Olvera

+1(909) 760-9091
$ 6,000,000
Est. payment | /mo

36 Beds

36 Baths

18,832 SqFt

Save
$ 6,000,000
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 $318

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, (5) 2-bed/1.5-bath, (8) 2-bed/2-bath, (1) 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 total parking spaces, including six tandem spaces in the front and ten standard spaces in the rear, along with controlled-access gated entry and on-site laundry facilities that generate consistent ancillary income. The soft-story seismic retrofit has been completed (buyer to verify). With strong underlying land value, scale, and below-replacement-cost pricing 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 – RECore
Listed by Benjamin Lewin Marcus & Millichap

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