Benjamin J. Hsiang
This listing was posted on Benjamin J. Hsiang (via ListedBuy).
$4,000,000
817 12th Street, Santa Monica, CA 90403
Price:
$4,000,000
BR/BA:
10+ BR, 10+ BA
Location:
817 12th Street, Santa Monica, CA
Description:
Proudly presenting 817 12th Street, a unique multifamily investment opportunity nestled in Santa Monica's coveted Montana neighborhood. With a diverse unit mix of two 3-bedroom 2-bath, five 2-bedroom 1.5-bath, and four 2-bedroom 1-bath residences, this 11-unit building effortlessly caters to a broad tenant base. Located mere steps from the vibrant retail strip of Montana Avenue and surrounded by top-tier schools, 817 12th Street presents an unbeatable combination of affordability, premier location, and impressive growth potential. The property's unique value proposition includes the delivery of four vacant units - two elegantly renovated and two awaiting creative transformation, providing a clear path to value-add. Moreover, the property's current units with 30% AMI deed restricted affordability housing status applying to all units, enables a more accessible entry point for investment while still offering substantial cash flow upside, particularly in tandem with the Section 8 program. The potential to incorporate multiple Accessory Dwelling Units (ADUs) by converting existing garages and storage spaces, which may not bound by the deed restriction, provides an immediate opportunity for significant equity appreciation. Ample parking arrangements, with 15 off-street spaces including garages and open spaces, enhance tenant appeal. Santa Monica, an epicenter for high-tech, entertainment, and creative industries, is home to renowned companies like Hulu, Google, and Snapchat, providing a stable employment base for prospective tenants. Add to this the city's coastal charm, outdoor lifestyle, and its reputation as a cultural hub, and this property emerges as a high-performing asset in a robust saleal market. Still available at ListedBuy!
Property Type:
Multi-Family Residences for Sale
Sq feet:
10,639 sq. ft.
Amenities:
Storage
For sale by:
Agent/Broker
Agent Name:
Benjamin J. Hsiang
Posted:
August 3 2023 on ListedBuy
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More About this Listing: 817 12th Street, Santa Monica, CA 90403
817 12th Street, Santa Monica, CA 90403 is a 10+ BR 10 Bathroom, 10+ BA, 18 Bathroom Multi-Family Real Estate for Sale at 817 12th Street in Santa Monica CA. Find other listings like 817 12th Street, Santa Monica, CA 90403 and listings near 817 12th Street by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 18 Bathroom Multi-Family Real Estate for Sale in Santa Monica CA.
817 12th Street, Santa Monica, CA 90403 is a 10+ BR 10 Bathroom, 10+ BA, 18 Bathroom Multi-Family Real Estate for Sale at 817 12th Street in Santa Monica CA. Find other listings like 817 12th Street, Santa Monica, CA 90403 and listings near 817 12th Street by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 18 Bathroom Multi-Family Real Estate for Sale in Santa Monica CA.