4-Unit Residential
For Sale
$2,395,000
1252 23rd St, Santa Monica, CA 90404
A vacant upper-level 3-bedroom residence accompanies a tenant-occupied front townhouse with 3 bedrooms.
Property Size5,428 SF
Price / SF$441.23
Days on Market64
Property Features for 1252 23rd St
General Information
Standard status
Active
Size
5,428 SF
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Pico
Additional Details
Multifamily Units
4
Tenant in Place
Yes
Building Details
Building Size
5,428 SF
Year Built
1965
Listing Agency:
Listed By:
Brian Maser · License #1340306
(310) 795-8010
Source:
Condosalesexperts
Added: Aug 26
Changed: Oct 26
Last Checked: Oct 26 at 3:22PM
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 Brian Maser
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Investment Insights
Based on property information with market context.
This 5,428-square-foot residential property contains four units and was built in 1965. The front townhouse has three bedrooms and is tenant-occupied; an upper-level residence with three bedrooms is vacant. These details describe two of the four units.
The property is in Santa Monica, approximately one-half block from Trader Joe’s, Whole Foods, New York Bagel, and O’Brien’s Irish Pub, with neighborhood conveniences nearby.
The property is in Santa Monica, approximately one-half block from Trader Joe’s, Whole Foods, New York Bagel, and O’Brien’s Irish Pub, with neighborhood conveniences nearby.
Key Highlights
- Four‑unit residential property
- 5,428 square feet; built in 1965
- Tenant‑occupied front townhouse with 3 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,792
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,895,840
$1.9M
Cap Rate 7%
$1,354,171
$1.4M
Cap Rate 9%
$1,053,244
$1.1M
Market Conditions
NOI Build-Up for 5,428 SF
Gross rent
$146.6K $27.00/SF
− Vacancy
−$11.1K −$2.05/SF
EGI
$135.4K $24.95/SF
− OpEx
−$40.6K −$7.48/SF
NOI
$94.8K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,895,840
Cap Rate 7%
$1,354,171
Cap Rate 9%
$1,053,244
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,792 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,341 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$2.91M
$2.54M – $3.39M
NOI $203,429 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
7,733
Businesses Nearby
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Business Placement
Demographics for 90404, CA
21,995
Population
11,499
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
10,998
Density / Sq Mi
$85,081
Median Household Income
$66,349
Median Earnings
$2,095
Median Rent
$1,159,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - A vacant upper-level 3-bedroom residence accompanies a tenant-occupied front townhouse with 3 bedrooms.
Where is this quadplex located?
The property is located at 1252 23rd St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Four‑unit residential property; 5,428 square feet; built in 1965; Tenant‑occupied front townhouse with 3 bedrooms
