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Property profile & analytics
OFF-MARKET
Estimated value
$2,865,000
Office buildings
1707 12th St, Santa Monica, CA 90404-4300
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-0305231
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1966
Construction
TILT-UP CONCRETE
Total area
10,203 SF
Lot
0.34 ac (15,014 SF)
Zoning code
SMM1*
APN
4283-015-025
UPID
US10-0305231
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.66M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.87M
Owner & transaction history
Wavecrest 1202 LLC · 3 yrs held
Wavecrest 1202 LLC
since 2022
7 recorded transactions
Zoning & alternative use
SMM1* · Santa Monica, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Santa Monica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Monica submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,965,000
6.5%
$3,660,000
7%
$3,400,000
Blend value · Realmo final
$2.87M
Range $2.58M – $3.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$281 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$37,914
Tax year 2024
Assessed value
$3,065,395
Assessed 2024
Previous assessed
$3,065,395
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$2,437,551
Assessed improvement
$627,844
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1966
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
10,203 SF
Lot
0.34 ac (15,014 SF)
Zoning code
SMM1*
APN
4283-015-025
UPID
US10-0305231
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMM1* · Santa Monica, CA
Zoning SMM1* · permitted uses
SMM1* · Santa Monica, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Monica. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1966
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Wavecrest 1202 LLC
Entity
Mailing address
21 LATIMER RD, SANTA MONICA, CA 90402-1011
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2023
—
Wavecrest 1202 LLC
—
Deed
related
$3,500,000 · Cathay Bank
Sep 15, 2022
—
Wavecrest 1202 LLC
Gary R Mandel
Grant Deed
—
Sep 9, 2020
—
Gary Mandel
—
Deed
related
$6,000,000 · City National Bank & Trust Co Of Lawton
Aug 31, 2000
$1,900,000
Mandel Trust
Lederer Trust
Grant Deed
$1,500,000 · City National Bank
May 26, 1993
—
Lederer,marion M Tr
—
Deed Of Trust
related
—
—
—
Mandel,gary & C 1995 Trust
—
Deed Of Trust
related
$2,000,000 · City National Bank
—
—
Mandel Gary & Cydney Trust
—
Deed Of Trust
related
$750,000 · City National Bank
—
—
Mandel Gary & Cydney Trust
—
Deed Of Trust
related
$1,720,000 · City National Bank
—
—
Mandel Gary & Cydney Trust
—
Deed Of Trust
related
$7,500,000 · City National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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