1323 11th Street

Santa Monica, CA 90401

$4,800,000
Price
13
Beds
10
Baths
7,098 Sq. Ft.
$676 / Sq. Ft.
7,098
Sq. Ft.
$676
per Sq. Ft.

Description

We are pleased to offer the opportunity to acquire 1323 11th Street, a 10 unit partially renovated apartment community located in Santa Monica. Situated between Santa Monica Boulevard and Wilshire Boulevard, the subject property is located only 0.7 miles from the 3rd Street Promenade and provides easy access to everyday amenities. Consisting of one building on a 7,485 square foot parcel, the property is comprised of seven one-bedroom units, and three two-bedroom units. Current Ownership has extensively...We are pleased to offer the opportunity to acquire 1323 11th Street, a 10 unit partially renovated apartment community located in Santa Monica. Situated between Santa Monica Boulevard and Wilshire Boulevard, the subject property is located only 0.7 miles from the 3rd Street Promenade and provides easy access to everyday amenities. Consisting of one building on a 7,485 square foot parcel, the property is comprised of seven one-bedroom units, and three two-bedroom units. Current Ownership has extensively renovated 80 percent of the units and feature new flooring throughout, newly remodeled kitchen with modern quartz countertops, new stainless-steel appliances, stainless-steel dishwasher, stainless-steel stove/oven, large farmhouse style stainless-steel sink, large open dining area and living room area. Renovated Units also include new remodeled bathrooms, modern vanity, spacious closets, and cabinet space throughout unit. 1323 11th Street provides investors a rare buying opportunity that provides an immediate healthy income stream, with remaining rental upside in a prime coastal market.
  1. Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1323 11th Street

Zoning
SMR3*
Parcel Number
4282013018
Total Units
10.0
Living Area
7098
Source Living Area
Assessor
Area
Santa Monica (C14)
Vacancy Rate
3
Lot Size Area
7485

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343
Add your commute
LISTING UPDATED: 04/02/2024 11:38 AM

Property Details for 1323 11th Street

StatusActive
MLS #24-363513
Days on Market60
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.17 AC / 7,485 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343
Add your commute

Building Information for 1323 11th Street

Stories2Residences-Year Built1958Building Size-Lot Size0.17 AC / 7,485 SF

Payment Calculator

$30,137 per month

30 year fixed, 7.25% Interest

Principal and Interest

$26,196

Property Taxes

$3,941

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1323 11th Street

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $333,731
  • Net Operating Income: $226,004.00
  • Gross Income: $340,560
  • Cap Rate: 4.71%
  • Gross Rent Multiplier: $14.09
  • Total Annual Expense: 107728
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1718
  • Lot Size Square Feet: 7485
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 13
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two, Multi/Split
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 02-29-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,495.00
  • Unit Actual Rent: $3,495.00
  • Unit Projected Rent: $3,650.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $2,995.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,538.00
  • Unit Actual Rent: $1,538.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,395.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,650.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,459.00
  • Unit Actual Rent: $1,459.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,079.00
  • Unit Actual Rent: $3,079.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,145.00
  • Unit Actual Rent: $3,145.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 10 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,774.00
  • Unit Actual Rent: $3,774.00
  • Unit Projected Rent: $3,650.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $767,359.00
  • Assessed Improvement Percent: 19.57
  • Assessed Land Value: $3,153,535.00
  • Assessed Land Percent: 80.43
  • Assessed Total Value: $3,920,894.00

Property History for 1323 11th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1323 11th Street

Taxable ValueLand$3,153,535Additions$768,359Total$3,921,894
Tax Record2023$47,293 ($3,941 / month)
Home Facts
Total Finished SqFt7,098 SqFtAbove Grade Finished SqFt7,098 SqFtLot Size7,483 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningSMR3*CountyLOS ANGELESAPN4282-013-018

Schools near 1323 11th Street

This home is within Santa Monica-Malibu Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 8
Rating
School
Distance
Roosevelt Elementary School
PublicK to 5

Lincoln Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Santa Monica Alternative (K-8) School
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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1323 11th Street is a multi-family home for sale in Santa Monica, CA 90401. This property was listed for sale on February 29, 2024 by Marcus & Millichap, it's currently listed at $4,800,000. It has been on the market for a total of 60 days and was last sold on April 18, 2019. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include Roosevelt Elementary School, Lincoln Middle School and Santa Monica High School. 1323 11th Street is a 13-bed, 10-bath, 7,098 sqft multi-family home built in 1958.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.