Spanish-style lower unit with red tile steps and arched entry at 831 12th.

SUCCESS STORY

SM Spanish-Style Fourplex Sells in 60 Days

831 12th St.

We generated five competitive offers within a month of listing. The Seller was thrilled with the speed of the transaction and cashed out in 60 days.

Offering Price
$3,130,000

City

Santa Monica

Current CAP

N/A

Price per unit

$782,500

Lot Size

7,523 SF

821 12th

About the Property

831 12th Street, a charming Spanish-style fourplex located in the highly-desired beach community of Santa Monica. Located on a tree-lined residential block just south of Montana Avenue, the property was adjacent to the neighborhood's most popular shopping and dining destinations. Constructed in 1928, the 5,020 two-story trophy asset sat on a 7,523 lot and featured (4) two-bdrm. units.

Offering Price

$3,130,000

Number of Units

4 Units

Bldg. Size

5,020 SF

Price per Foot

$624

Year Built

1928

Market CAP

N/A

Zoning

SMR2

Background

831 12th was a charming and well-maintained Spanish-style fourplex just 1/2 block south of Montana Ave. After owning the building for several years and having uncertainty around the LA multifamily market, the eller felt it was the right time to cash out.

Spanish-style lower unit with red tile steps and arched entry at 831 12th.
Spanish-style lower unit with red tile steps and arched entry at 831 12th.
Spanish-style lower unit with red tile steps and arched entry at 831 12th.

Result

We generated five competitive offers within a month of listing the property. To get the best offer for our client, we toured qualified buyers, created a competitive bidding environment, and closed escrow 45 days later at $3.13M. With a great deal of uncertainty in the market due to the COVID pandemic, the Seller was thrilled with the speed of the transaction, and cashed out 60 days after signing the listing agreement.

Aerial view showcasing coastal proximity and dense residential blocks near 831 12th.
Aerial view showcasing coastal proximity and dense residential blocks near 831 12th.
Aerial view showcasing coastal proximity and dense residential blocks near 831 12th.

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Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.