10-Unit Apartment
For Sale
$4,200,000
1013 12th St, Santa Monica, CA 90403
Well-maintained 10-unit apartment building with a mix of 1- and 2-bedroom units and onsite parking.
Property Size7,954 SF
Price / SF$528.04
Days on Market140
Property Features for 1013 12th St
General Information
Standard status
Active
Size
7,954 SF
Site & Location
Neighborhood
Wilshire
Additional Details
Multifamily Units
10
Building Details
Year Built
1964
Tenancy
Multi
Listing Agency:
PAR Commercial Brokerage
Listed By:
Arthur Peter · License #010686613
(310) 395-2663
Source:
Myfabuloushome
Added: Jun 7
Changed: Oct 2
Last Checked: Oct 7 at 1:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PAR Commercial Brokerage
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a 10-unit apartment building offering a unit mix of three (3) 2 bed / 2 bath units, one (1) 2 bed / 1 bath unit, and six (6) 1 bed / 1 bath units. The property is described as well maintained, with units managed by the same family for more than 40 years. The building also features large units and onsite parking.
The property is located north of Wilshire Boulevard in Santa Monica. The public remarks note it is within walking distance to Montana Avenue, Palisades Park, and the beach, and it is in Santa Monica’s best school district per the remarks.
The tenant-ready layout and long-term care reflected in the unit mix and onsite parking support the building’s role as an income-generating multifamily asset.
The property is located north of Wilshire Boulevard in Santa Monica. The public remarks note it is within walking distance to Montana Avenue, Palisades Park, and the beach, and it is in Santa Monica’s best school district per the remarks.
The tenant-ready layout and long-term care reflected in the unit mix and onsite parking support the building’s role as an income-generating multifamily asset.
Key Highlights
- 1964‑built 10‑unit apartment building with a mix of 1- and 2‑bedroom units
- Unit mix: three 2BD/2BA, one 2BD/1BA, and six 1BD/1BA units
- Units have been well maintained by the same family for 40+ years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,986
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,559,720
$2.6M
Cap Rate 7%
$1,828,371
$1.8M
Cap Rate 9%
$1,422,067
$1.4M
Market Conditions
NOI Build-Up for 7,954 SF
Gross rent
$252.9K $31.80/SF
− Vacancy
−$20.2K −$2.54/SF
EGI
$232.7K $29.26/SF
− OpEx
−$104.7K −$13.17/SF
NOI
$128.0K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,559,720
Cap Rate 7%
$1,828,371
Cap Rate 9%
$1,422,067
Alternative Uses
Best Use
Apartment 5plus
$1.83M
$1.60M – $2.13M
NOI $127,986 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.26M
$3.73M – $4.97M
NOI $298,098 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
10
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,345
Businesses Nearby
Explore this area
Business Placement
Demographics for 90403, CA
25,278
Population
14,853
Households
1.7
Avg Household Size
42
Median Age
72%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
18,056
Density / Sq Mi
$121,512
Median Household Income
$82,557
Median Earnings
$2,443
Median Rent
$1,553,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 10-unit apartment building with a mix of 1- and 2-bedroom units and onsite parking.
Where is this apartment building located?
The property is located at 1013 12th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 1964‑built 10‑unit apartment building with a mix of 1- and 2‑bedroom units; Unit mix: three 2BD/2BA, one 2BD/1BA, and six 1BD/1BA units; Units have been well maintained by the same family for 40+ years
