1523 Berkeley Street, Santa Monica, CA 90404
- $1,725,000
- 6
- BD
- 5
- BA
- 3,766
- SqFt
- List Price
- $1,725,000
- Status
- COMING SOON
- MLS#
- 26986521
- Year Built
- 1957
- Bedrooms
- 6
- Bathrooms
- 5
- Living Sq. Ft
- 3,766
- Lot Size
- 8,139
- Acres
- 0.19
- Days on Market
- 0
- Property Type
- Multifamily
- Stories
- Two Levels
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
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Additional Information
- Appliances
- Refrigerator, Dryer, Washer
- Heat
- Floor Furnace
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 5
Listing courtesy of Listing Agent: David Messiah (david.messiah@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.