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1247 Berkeley St 6 Unit Apartment Building $3,580,000 ($596,667/Unit) 5.56% Cap Rate Santa Monica, CA 90404
INVESTMENT HIGHLIGHTS
- Prime Santa Monica location – only half a block South of Wilshire
- Huge Units - (1) 4+1.75 , (4) 3+1.75, (1) 2+1.75
- 12.70 GRM - 5.56% Cap Rate - $398/SF
EXECUTIVE SUMMARY
Discover a premier investment opportunity at 1247 Berkeley Street, Santa Monica 90404—an expansive 8,990 SF six-unit apartment building ideally located just steps south of Wilshire Blvd. This exceptionally well-designed property offers an ideal unit mix, featuring mostly large 3-bedroom units, including a spacious 3-bedroom owner’s unit with a generous private patio, perfect for owner-occupancy or commanding premium rents. The building also includes a large 2-bedroom unit with square footage comparable to the 3-bedroom layouts, providing flexibility and appeal to a wide range of tenants. Situated in one of Santa Monica’s most sought-after neighborhoods with strong rental demand and proximity to top-tier amenities, 1247 Berkeley presents a compelling opportunity for investors seeking size, stability, and long-term upside in a blue-chip location.
PROPERTY HIGHLIGHTS
• 6 units
• (1) 3+1.75 + Large Private Patio , (4) 3+1.75, (1) 2+1.75
• GRM - 12.70
• Cap Rate - 5.56%
• Price/SF - $398.22
PROPERTY HIGHLIGHTS
• 6 units
• (1) 3+1.75 + Large Private Patio , (4) 3+1.75, (1) 2+1.75
• GRM - 12.70
• Cap Rate - 5.56%
• Price/SF - $398.22
PROPERTY FACTS
| Price | $3,580,000 | Property Subtype | Apartment |
| Price Per Unit | $596,667 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.56% | Lot Size | 0.19 AC |
| Sale Condition | 1031 Exchange | Building Size | 8,990 SF |
| Gross Rent Multiplier | 12.7 | Average Occupancy | 85% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Zoning | R2, Santa Monica - SMR2* | ||
| Price | $3,580,000 |
| Price Per Unit | $596,667 |
| Sale Type | Investment |
| Cap Rate | 5.56% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.7 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 8,990 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built | 1961 |
| Zoning | R2, Santa Monica - SMR2* |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Detector
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Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 4267-002-021 | Improvements Assessment | $979,200 |
| Land Assessment | $2,284,800 | Total Assessment | $3,264,000 |
PROPERTY TAXES
Parcel Number
4267-002-021
Land Assessment
$2,284,800
Improvements Assessment
$979,200
Total Assessment
$3,264,000
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1247 Berkeley St
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