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    1227 21St St

    Santa Monica, CA 90404
    • $5,395,000
    • STATUS: Active
    • ON SITE: 15 days
    • MLS #: 21-744518
    Price Reduced
    $5,395,000
    • 28
      BEDS
    • 0.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,164
      SQFT
    • $531
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1947
    County:
    Area:

    School Ratings & Info

    Description

    Huge Price Reduction! 1227 21st Street is the impressive and extremely clean, 12-unit apartment building located in Prime Santa Monica. The property consists of all large units with a combined mix of (4) three-bedroom and (8) two-bedroom units. Located just half a block South of Wilshire, it's walking distance from many restaurants, shopping, and cafes. This incredible asset commands higher than average rents in Santa Monica. The property was originally constructed in 1947, however, it was rebuilt in 1997. Due to the property being reconstructed in 1997, there are three deed-restricted units and Buyer is required to verify and satisfy their investigations with regards to the maximum allowable rents prior to opening escrow. There is a discrepancy on public record showing a different total bedroom and bathroom count, Buyer to verify. Please do not disturb the tenants. All showings will be subject to an accepted offer. The Seller will be conducting a 1031 tax deferred exchange and all Buyers shall cooperate at no additional delay, cost, or liability to Buyer.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-18T23:42:46.717. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.desertarealuxuryhomes.com/homes/117878688
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    1227 21St St Santa Monica, CA 90404

    • Price: $5,395,000
    • Status: Active
    • MLS #: 21-744518
    28
    Beds
    0
    Baths
    0
    ½ Baths
    0.35
    Acres
    10,164
    SQFT
    $531
    $/SQFT
    1947
    Built
    Neighborhood:
    Santa Monica
    County:
    Los Angeles
    Area:
    Santa Monica
    Property Description
    Huge Price Reduction! 1227 21st Street is the impressive and extremely clean, 12-unit apartment building located in Prime Santa Monica. The property consists of all large units with a combined mix of (4) three-bedroom and (8) two-bedroom units. Located just half a block South of Wilshire, it's walking distance from many restaurants, shopping, and cafes. This incredible asset commands higher than average rents in Santa Monica. The property was originally constructed in 1947, however, it was rebuilt in 1997. Due to the property being reconstructed in 1997, there are three deed-restricted units and Buyer is required to verify and satisfy their investigations with regards to the maximum allowable rents prior to opening escrow. There is a discrepancy on public record showing a different total bedroom and bathroom count, Buyer to verify. Please do not disturb the tenants. All showings will be subject to an accepted offer. The Seller will be conducting a 1031 tax deferred exchange and all Buyers shall cooperate at no additional delay, cost, or liability to Buyer.
    Exterior Features

    Lot Size Area 15053 Other Structures OtherStall(S) Parking Garage CarportDetached Total Parking 11

    Interior Features

    Baths Total 16.00 Cooling Air Conditioning Equipment DishwasherRange/Oven Heating Wall Gas Laundry Outside

    Property Features

    Assessed Total Value 718815 Gross Income 333852 Gross Operating Income 323836 Like Units1 4 Like Units2 8 Net Operating Income 190562.00 Number Of Buildings 1 Number Of Units 12 Rent Control YN Yes Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 133274 Type Of Units 3+22+1 Year Built Source Vendor Enhanced Zoning Smr2*

    Listing provided courtesy of Chase Simonton DRE#01766871 of Re/Max One.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-18T23:42:46.717. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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