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1312 19th Street

1312 19th Street,Santa Monica, CA 90404

6

Unit

$4,900,000

Price

Property Details

Price Per Unit

$817

Price per SF

$550

Current Cap Rate

3.6%

Market Cap Rate

4.7%

Current GRM

17.6

Market GRM

14.5

1312 19th Street

1312 19th Street,Santa Monica, CA 90404

$4,900,000

Price

Property Details

Price per SF

$550

Price Per Unit

$817

Price per SF

$550

Current Cap Rate

3.6%

Market Cap Rate

4.7%

Unit

6

Current GRM

17.6

Market GRM

14.5

Description

Stepp Commercial presents 1312 19th Street, six (6) large units located in prime Santa Monica. Soft story retrofit has been completed on this property.
The property consists of a sizable ±2,200-square-foot 4BD / 2.5BA Townhouse with a private gated patio, formal dining room, wet bar, two (2) fireplaces and in-unit washer/dryer. A sizable basement has the potential to be converted to an ADU for additional income. Additional units include two (2) 3BD/2BA averaging ±1,500 square feet each and three (3) 2BD/2A averaging ±1,200 square feet each.Onsite laundry facilities provide current income, and six (6) carport spaces have the potential for additional income.

CLOSE TO EMPLOYMENT AND EDUCATION HUBS

The property is ideally located in the center of  highly desirable Westside. A plethora of world-class entertainment, media and technology companies are located within just a one-mile radius, including Hulu, Riot Games, Snapchat and Oracle.
In May of 2022, Amazon announced it would lease 200,000 square feet of space at the nearby Water Garden to support its retail, games, and web services divisions.
Santa Monica College, a popular choice for students looking to transfer to University of California and with a student population of 30,000, is located less than one half-mile away.

EXTREMELY WALKABLE LOCATION
With a Walk Score of 92, the property provides easy, walkable access to all amenities for daily errands. The building is just blocks from Whole Foods Market, coffee shops, world class restaurants, retail and outdoor recreation areas.

EXCELLENT VALUE-ADD OWNER/USER OPPORTUNITY

With 20% upside potential in rents, this property offers a new buyer an excellent owner/user value-add opportunity for future rent growth and appreciation.

Highlights

  • Prime Santa Monica Location
  • Excellent Owner / User Opportunity
  • Large 4BD / 2.5BA Town House, ±2,200 SF
  • Two (2) 3BD / 2BA & Three (3) 2BD / 2BA Units
  • Potential to Convert Spacious Basement to ADU
  • Soft Story Retrofitting has been Completed
  • On-Site Parking with Potential for Income
  • Substantial Upside in Rents

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