Property Details

Price $3,400,000

Year Built 1928

# of Units 4

Price P/ Unit $875,000

Sq. ft. 5,020 SF

Price p/ Sq. ft. $677

Current Cap Rate 1.75%

Proforma Cap Rate 3.53%

Lot Size 7,523 SF

Zoning SMR2

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831 12th Street
Santa Monica, CA 90403

About the Property

Kenny Stevens Team is pleased to present 831 12th Street, a charming Spanish-style Fourplex located in the highly-desired community of Santa Monica. Constructed in 1928, the 5,020 SF two-story trophy asset sits on a 7,523 SF lot and is comprised of (4) two-bedroom and one bath units. Please note, each unit has been individually metered for gas and electricity. Additional property amenities include a landscaped community courtyard and (4) private one-car garages. 831 12th Street presents a significant value-add opportunity to investors, as current rents are approx. 56% below market value for nicely remodeled units in the area. With a trendy location that is consistently under high demand among high-earning young professionals, 831 12th Street affords investors the opportunity to acquire a well-maintained investment property in this ever-growing metropolitan beach community. 

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