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$6,000,000

Est. payment - /mo

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36 Beds

36 Baths

18,832 SqFt

New

1243 12th St Santa Monica, CA 90401

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2026

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

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Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 18,832 sqft

Price per Sqft $318

MLS Listing ID 25630313

Bedrooms 36

Year Built 1959

Lot Size 0.345 Acres

Property Sub-Type Multi-Family

Property Description

1243 & 1247 12th St consist of two adjacent ten-unit apartment buildings located between Wilshire Blvd and Arizona Ave in prime Santa Monica, approximately 12 blocks from the beach. Built in 1959, the properties total 18,832 square feet of improvements on a 15,007-square-foot double lot with two separate APNs, offering long-term ownership, financing, and disposition flexibility. Each building is approximately 9,416 square feet, and together the portfolio features an attractive and highly functional 20-unit mix comprised of (4) 1-bed/1-bath, (5) 2-bed/1.5-bath, (8) 2-bed/2-bath, (1) 3-bed/1.5-bath, and (2) 3-bed/2-bath units. This balanced mix appeals to a wide renter base and positions the asset for long-term revenue growth as turnover occurs. The property provides 22 total parking spaces, including six tandem spaces in the front and ten standard spaces in the rear, along with controlled-access gated entry and on-site laundry facilities that generate consistent ancillary income. The soft-story seismic retrofit has been completed (buyer to verify). With strong underlying land value, scale, and below-replacement-cost pricing in one of the Westside's most supply-constrained submarkets, 1243 & 1247 12th St offer investors a rare opportunity to acquire two contiguous buildings in an irreplaceable coastal location with meaningful operational and appreciation upside.

Location

State CA

County Los Angeles

Area Santa Monica

Zoning SMR3*

Rooms

Other Rooms None

Interior

Heating Wall

Cooling None

Equipment None

Exterior

Parking Features Driveway, Covered Parking

Garage Spaces 22.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap