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$ 1,725,000
Est. payment /mo
Coming Soon
1523 Berkeley ST Santa Monica, CA 90404
6 Beds
5 Baths
3,766 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 3,766 sqft
Price per Sqft $458
MLS Listing ID 26986521
Bedrooms 6
HOA Y/N No
Year Built 1957
Lot Size 8,137 Sqft
Property Description
1523 Berkeley St is a five-unit multifamily property located in a prime Santa Monica location, steps from Wilshire Blvd, within walking distance of Montana Ave, and a short distance from Lionsgate, Hulu, and the Colorado Ave entertainment corridor. Built in 1957 and situated on an 8,139 SF lot, the property consists of one 2-bedroom, 1-bath front house and four 1-bedroom, 1-bath units, along with five detached garages, a laundry room, and a central courtyard. Three of the units have been updated during prior tenant turnovers. One 1-bedroom unit and one garage will be delivered vacant, giving the next owner immediate flexibility to select their own tenant and capture current market rent. The property's large lot, courtyard setting, and five detached garages also provide additional long-term value-add potential. Offered at $1,725,000, the property is currently operating at a 5.37% cap rate and 12.20 GRM, equating to $345,000 per unit and approximately $458 per square foot. Three
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR2*
Interior
Heating Floor Furnace
Cooling None
Fireplace No
Appliance Refrigerator, Dryer, Washer
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4267027010
Special Listing Condition Standard
Listed by David Messiah Lyon Stahl Investment Real Estate, Inc. #02117893