817 12th Street

Offering Memorandum

Santa Monica, CA 90403

Summary

11 UNITS

BUILT 1966

GROSS SF 10,639

LOT SF 7,494

Property Overview

Realty Investment Advisors proudly presents 817 12th Street, a unique multifamily investment opportunity nestled in Santa Monica's coveted Montana neighborhood. With a diverse unit mix of two 3-bedroom 2-bath, five 2-bedroom 1.5-bath, and four 2-bedroom 1-bath residences, this 11-unit building effortlessly caters to a broad tenant base.

Located mere steps from the vibrant retail strip of Montana Avenue and surrounded by top-tier schools, 817 12th Street presents an unbeatable combination of affordability, premier location, and impressive growth potential.

The property's unique value proposition includes the delivery of four vacant units - two elegantly renovated and two awaiting creative transformation, providing a clear path to value-add. Moreover, the property's current units with deed restricted affordability housing status, enables a more accessible entry point for investment while still offering substantial cash flow upside, particularly in tandem with the Section 8 program.

The potential to incorporate multiple Accessory Dwelling Units (ADUs) by converting existing garages and storage spaces, which may not bound by the deed restriction, provides an immediate opportunity for significant equity appreciation. Ample parking arrangements, with 15 off-street spaces including garages and open spaces, enhance tenant appeal.

Santa Monica, an epicenter for high-tech, entertainment, and creative industries, is home to renowned companies like Hulu, Google, and Snapchat, providing a stable employment base for prospective tenants. Add to this the city's coastal charm, outdoor lifestyle, and its reputation as a cultural hub, and this property emerges as a high-performing asset in a robust rental market.