817 12th Street, Santa Monica, CA 90403 (MLS # SR24031982)
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.)
Property Type(s):
Residential Income
|
Last Updated
|
3/22/2024
|
Year Built
|
1966
|
|
Community
|
Santa Monica
|
Garage Spaces
|
6.0
|
|
County
|
Los Angeles
|
Additional Details
| AREA |
Santa Monica |
| BUYER'S BROKERAGE COMPENSATION |
2.000 % |
| GARAGE |
Assigned, Yes |
| LOT |
7496 sq ft |
| LOT DESCRIPTION |
Landscaped |
| PARKING |
Assigned |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
3 |
| WATER |
Public |
| ZONING |
SMR2* |
Location
Listed with Lee & Associates
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/3/24 4:00 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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