Active

817 12th ST

SANTA MONICA CA, 90403

$5,125,000


$481.72 per sqft

Active

7 Beds

10,639 sqft

Condo

Built in 1966

With its phenomenal location just south of Montana Avenue, the 12th Street Apartments is a fantastic reposition opportunity. There are currently 4 vacant apartments that can be renovated and rented shortly after closing. With ample parking, an oversized lot, and just 12 short blocks from Inspiration Point and Palisades Park, this property is ripe with options. Please note there is a deed restriction on the existing 11 units with the City of Santa Monica requiring units to be rented to 30% AMI Households. However, Section 8 program tenants qualify and this allows for the units to be rented close to market with the the Section 8 program paying the bulk of their rent. (Buyer to independently verify.) Importantly there is also the potential to add multiple non-rent-restricted ADUs given the garages located both in front and back of the building. The property is currently on the City of Santa Monica soft-story retrofit list and completion of the soft-story retrofit can occur concurrently with the ADU construction. Buyer to verify all of the above with the City of Santa Monica. (Please note the retofit due date was September 2023, per the City s website.)

SR24031982MR

MLS ID

February 13, 2024

Listed

April 5, 2024

Updated

Map

817 12th ST
SANTA MONICA CA, 90403

Interior Features

Total Stories

3


Bedrooms

7 Beds


Laundry Description

Laundry Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.17 Acres


Sewer

Public Sewer

Other Property Details

Area Name

Santa Monica


Days on Market

36


Garage

Yes


Garage Spaces

6


Parking

Assigned


Parking Total

16


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

SMR2*

Listed by Warren Berzack with Lee & Associates
Listing Contact: 818-269-2979 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor O'Connor Estates shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 4/5/2024

Powered byLuxury Presence