Active

1243 12th Street

Santa Monica, CA 90401

$5,250,000 $22,134/Mo

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Overview

Bed

Bath

18,832

Sqft

15,007

Sqft(Lot)

Description

1243 & 1247 12th St consist of two adjacent ten-unit apartment buildings located between Wilshire Blvd and Arizona Ave in prime Santa Monica, approximately 12 blocks from the beach. Built in 1959, the properties total 18,832 square feet of improvements on a 15,007-square-foot double lot with two separate APNs, offering long-term ownership, financing, and disposition flexibility. Each building is approximately 9,416 square feet, and together the portfolio features an attractive and highly functional 20-unit mix comprised of (4) 1-bed/1-bath, (6) 2-bed/1.5-bath, (6) 2-bed/2-bath, (2) 3-bed/1.5-bath, and (2) 3-bed/2-bath units. This balanced mix appeals to a wide renter base and positions the asset for long-term revenue growth as turnover occurs. The property provides 22 parking spaces, inclu ding six tandem spaces at the front and ten standard spaces at the rear, along with a controlled-access, gated entry and on-site laundry facilities. The soft-story seismic retrofit has been completed (buyer to verify). Priced at an attractive basis compared to recent sale comparables at $327k/unit and $428/square-foot, with strong underlying land value and scale in one of the Westside's most supply-constrained submarkets. 1243 & 1247 12th St offer investors a rare opportunity to acquire two contiguous buildings in an irreplaceable coastal location with meaningful operational and appreciation upside.

Property Details

Property Type : Residential Income

Price : $5,250,000

AD Id : 71762926

MLS Id : 25630313

Beds : 36

Lot Size : 15,007 Sqft

Living Area Size : 18,832

Year Built : 1959

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 36

Bathroom Information

Total Baths: 36 Full Baths: 0 Half Baths: 0
Cooling Features

None Air Conditioning

Heating Source

Wall Furnace Has Heating

Building Information

Year Built: 1959 Building Area Total: 18,832

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.3445
Lot Size Source: Assessor Lot Size Square Feet: 15007

Listing Price Information

Original List Price: 5,250,000 Listing Contract Date: 2025-12-22
Lease Information

Listing Agreement: Seller Reserved

Tax Information

Parcel Number: 4282005018

Garage and Parking

Garage Description: Covered,Driveway

Homeowners Association

Other Property Info

Source Listing Status: Active Source Neighborhood: C14 - Santa Monica Directions: South of Wilshire on 12th St Zoning: SMR3* Source Property Type: Residential Income Area: C14 - Santa Monica
Building and Construction

Property Age: 67 Year Built Source: Vendor Enhanced Total Square Feet Living: 18832 Levels or Stories: Two Building Total Stories: 2

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1217 9th Street, Santa Monica, CA, 90401	$5,100,000	--	--	4,770	4,770 SqFt
41 Vicente Terrace, Santa Monica, CA, 90401	$3,250,000	3	2	3,289	3,289 SqFt
41 Vicente Terrace, Santa Monica, CA, 90401	$3,250,000	4	--	3,289	3,289 SqFt

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ByOwner last updated this listing 06/16/2026 @ 04:00

MLS: 25630313 LISTED BY: Benjamin Lewin, Marcus & Millichap 818-212-2700 SOURCE: CRMLS