943 19th Street, Santa Monica
$4,000,000 - 17 Beds, 12 BathsMLS® # SR24024749
$5,125,000
Click the arrows next to the image to browse our photo gallery for this property.
With its phenomenal location just south of Montana Avenue, the 12th Street Apartments is a fantastic reposition opportunity. There are currently 4 vacant apartments that can be renovated and rented shortly after closing. With ample parking, an oversized lot, and just 12 short blocks from Inspiration Point and Palisades Park, this property is ripe with options. Please note there is a deed restriction on the existing 11 units with the City of Santa Monica requiring units to be rented to 30% AMI Households. However, Section 8 program tenants qualify and this allows for the units to be rented close to market with the the Section 8 program paying the bulk of their rent. (Buyer to independently verify.) Importantly there is also the potential to add multiple non-rent-restricted ADUs given the garages located both in front and back of the building. The property is currently on the City of Santa Monica soft-story retrofit list and completion of the soft-story retrofit can occur concurrently with the ADU construction. Buyer to verify all of the above with the City of Santa Monica. (Please note the retofit due date was September 2023, per the Cityās website.)
Curbs, Street Lights, Sidewalks, Urban, Storm Drain(s)
MLS® # SR24024749
Based on information from California Regional Multiple Listing Service, Inc. as of May 2nd, 2024 at 7:15am PDT. 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.