7-Unit Townhouse-Style Apartment
For Sale
$2,500,000
1434 Berkeley St, Santa Monica, CA 90404
Multifamily property with varied floor plans, on-site parking, and unit-level laundry in Santa Monica’s Mid-City neighborhood.
Property Size8,390 SF
Lot Size0.18 Acres
Price / SF$297.97
Days on Market49
Property Features for 1434 Berkeley St
General Information
Standard status
Active
Size
8,390 SF
Total Parking Spaces
7
Lot size
0.18 Acres
Property subtype
Multifamily
Site & Location
Neighborhood
Northeast
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
5 x 2BR/2BA, 1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
7
Amenities
granite countertops
copper plumbing
individual washer/dryers
garage gates
grass yard
Seven-unit multifamily investment opportunity at 1434 Berkeley St, located in Santa Monica's Mid-City neighborhood just south of Santa Monica Blvd.
Of the seven units, five are spacious two-bedroom, two-bath townhomes, one is a one-bedroom, one-bath unit, and one is a three-bedroom, two-bath unit.
The property provides seven on-site parking spaces, with five spaces in the rear and two tandem spaces at the front of the building.
Building Details
Building Size
8,390 SF
Year Built
1964
Units
7
Listing Agency:
Marcus & Millichap
Listed By:
Neema Ahadian · License #License(s): CA: 01346750
(310) 909-5444
Source:
Marcusmillichap
Added: Sep 19
Changed: Oct 25
Last Checked: Nov 4 at 9:41AM
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 Marcus & Millichap
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Investment Insights
Based on property information with market context.
This 7-unit apartment property, built in 1964, contains approximately 8,390 square feet on a 7,807-square-foot lot. The unit mix includes five two-bedroom, two-bath townhouse-style residences, one one-bedroom, one-bath unit, and one three-bedroom, two-bath unit. Most residences offer granite countertops, copper plumbing, and individual washers and dryers. On-site parking includes seven spaces, with five located at the rear and two tandem spaces at the front. Rear garage gates have been newly installed, and a small grass yard fronts the building along Berkeley St.
The property is in Santa Monica’s Mid-City neighborhood, south of Santa Monica Blvd. The area has a Walk Score of 92, with Wilshire Blvd retail and restaurants and Santa Monica College within walking distance. The Expo Line’s 26th St/Bergamot station provides transit connections to Downtown Santa Monica, Downtown Los Angeles, and other Westside destinations.
The property is in Santa Monica’s Mid-City neighborhood, south of Santa Monica Blvd. The area has a Walk Score of 92, with Wilshire Blvd retail and restaurants and Santa Monica College within walking distance. The Expo Line’s 26th St/Bergamot station provides transit connections to Downtown Santa Monica, Downtown Los Angeles, and other Westside destinations.
Key Highlights
- 7‑unit apartment property totaling approximately 8,390 square feet
- Unit mix includes five 2‑bedroom, 2‑bath townhomes, one 1‑bedroom, 1‑bath unit, and one 3‑bedroom, 2‑bath unit
- Seven on‑site parking spaces: five at the rear and two tandem spaces at the front
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,002
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,700,040
$2.7M
Cap Rate 7%
$1,928,600
$1.9M
Cap Rate 9%
$1,500,022
$1.5M
Market Conditions
NOI Build-Up for 8,390 SF
Gross rent
$266.8K $31.80/SF
− Vacancy
−$21.3K −$2.54/SF
EGI
$245.5K $29.26/SF
− OpEx
−$110.5K −$13.17/SF
NOI
$135.0K $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%
$2,700,040
Cap Rate 7%
$1,928,600
Cap Rate 9%
$1,500,022
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $135,002 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,438 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,839
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied floor plans, on-site parking, and unit-level laundry in Santa Monica’s Mid-City neighborhood.
Where is this apartment building located?
The property is located at 1434 Berkeley St Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 7‑unit apartment property totaling approximately 8,390 square feet; Unit mix includes five 2‑bedroom, 2‑bath townhomes, one 1‑bedroom, 1‑bath unit, and one 3‑bedroom, 2‑bath unit; Seven on‑site parking spaces: five at the rear and two tandem spaces at the front
