About 817 12th St
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.)
Features of 817 12th St
MLS® # | SR24031982MR |
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Price | $5,125,000 |
Bedrooms | 7 |
Bathrooms | 5.00 |
Square Footage | 10,639 |
Acres | 0.17 |
Year Built | 1966 |
Type | Residential Income |
Sub-Type | Apartment |
Status | Active |
Community Information
Address | 817 12th St |
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Area | Santa Monica |
City | SANTA MONICA |
County | Los Angeles |
State | CA |
Zip Code | 90403 |
Amenities
Parking Spaces | 16 |
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# of Garages | 6 |
Garages | Assigned |
Is Waterfront | No |
Has Pool | No |
Pool | None |
Interior
Fireplace | No |
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# of Stories | 3 |
Has Basement | No |
Additional Information
Date Listed | February 13th, 2024 |
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Days on Market | 83 |
Zoning | SMR2* |
Foreclosure | No |
RE / Bank Owned | No |
Listing Details
Agent | Warren Berzack (01329015) |
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Office | Lee & Associates |