1523 Berkeley ST, Santa Monica, CA 90404
1523 Berkeley ST, Santa Monica, CA 90404
1523 Berkeley ST, Santa Monica, CA 90404
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Ernie Caponera

Ernie Caponera

+1(714) 606-0926
$1,725,000
Est. payment /mo
6 Beds
5 Baths
3,766 SqFt
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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

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Listed by David Messiah Lyon Stahl Investment Real Estate, Inc. #02117893

Nearby Locations

Ernie Caponera

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California 92625, USA

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