11-Unit Apartment
1117 12th St, Santa Monica, CA 90403
For Sale
$3,995,000
A vacant three-bedroom residence offers an option for on-site occupancy alongside ten other apartments.
Property Size9,636 SF
Lot Size0.17 Acres
Price / SF$414.59
Days on Market8
Property Features for 1117 12th St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Tierra Properties
Listed By:
Irma Vargas · License CA #00467438
(310) 930-6187
Source:
Jademillsestates
Added: Nov 7
Changed: Nov 13
Last Checked: Nov 12 at 6:03PM
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 Tierra Properties
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Investment Insights
Based on property information with market context.
The 11-unit apartment property contains seven one-bedroom, one-bath units, three two-bedroom, two-bath units, and one three-bedroom, two-bath residence. The building measures approximately 9,636 square feet on a 7,499-square-foot parcel. The three-bedroom unit is vacant, while the other ten apartments provide rental income. Four garages at the front are held by ownership; separate rental or possible ADU conversion may be evaluated, with conversion subject to City approval and applicable requirements. The building has completed seismic retrofit work and the state-required balcony inspection.
The property is north of Wilshire Boulevard, with Montana Avenue retail and dining, Downtown Santa Monica, Third Street Promenade, Santa Monica Beach, UCLA Santa Monica Medical Center, and Brentwood among the nearby destinations. Tenants currently park in front of the garage area.
The property is north of Wilshire Boulevard, with Montana Avenue retail and dining, Downtown Santa Monica, Third Street Promenade, Santa Monica Beach, UCLA Santa Monica Medical Center, and Brentwood among the nearby destinations. Tenants currently park in front of the garage area.
Key Highlights
- 11 apartments: seven 1‑bedroom/1‑bath, three 2‑bedroom/2‑bath, and one 3‑bedroom/2‑bath
- Approximately 9,636‑square‑foot building on a 7,499‑square‑foot lot
- Vacant 3‑bedroom/2‑bath unit; ten other apartments provide rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,051
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,101,020
$3.1M
Cap Rate 7%
$2,215,014
$2.2M
Cap Rate 9%
$1,722,789
$1.7M
Market Conditions
NOI Build-Up for 9,636 SF
Gross rent
$306.4K $31.80/SF
− Vacancy
−$24.5K −$2.54/SF
EGI
$281.9K $29.26/SF
− OpEx
−$126.9K −$13.17/SF
NOI
$155.1K $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%
$3,101,020
Cap Rate 7%
$2,215,014
Cap Rate 9%
$1,722,789
Alternative Uses
Best Use
Apartment 5plus
$2.22M
$1.94M – $2.58M
NOI $155,051 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.16M
$4.51M – $6.02M
NOI $361,135 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
7,345
Businesses Nearby
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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
$1,553,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Santa Monica, CA
Properties on Market for Apartment buildings in Santa Monica
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A vacant three-bedroom residence offers an option for on-site occupancy alongside ten other apartments.
Where is this apartment building located?
The property is located at 1117 12th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 11 apartments: seven 1‑bedroom/1‑bath, three 2‑bedroom/2‑bath, and one 3‑bedroom/2‑bath; Approximately 9,636‑square‑foot building on a 7,499‑square‑foot lot; Vacant 3‑bedroom/2‑bath unit; ten other apartments provide rental income
