List Price: $1.73M

Listing Status: Active

Days on Market: 8

6 Bedrooms · 5 Bathrooms · 3,766 sq ft

Property Type: ResidentialIncome

Year Built: 1957

Lot Size: 8,139 sq ft

MLS Number: 26986521

About This Property

1523 Berkeley St is a five-unit multifamily property located in a prime Santa Monica location, steps from Wilshire Blvd, within walking distance of Montana Ave, and a short distance from Lionsgate, Hulu, and the Colorado Ave entertainment corridor. Built in 1957 and situated on an 8,139 SF lot, the property consists of one 2-bedroom, 1-bath front house and four 1-bedroom, 1-bath units, along with five detached garages, a laundry room, and a central courtyard. Three of the units have been updated during prior tenant turnovers. One 1-bedroom unit and one garage will be delivered vacant, giving the next owner immediate flexibility to select their own tenant and capture current market rent. The property's large lot, courtyard setting, and five detached garages also provide additional long-term value-add potential. Offered at $1,725,000, the property is currently operating at a 5.37% cap rate and 12.20 GRM, equating to $345,000 per unit and approximately $458 per square foot. Three

Listing provided by: David Messiah DRE #02117893 310-425-9838 david.messiah@lyonstahl.com, Lyon Stahl Investment Real Estate, Inc.

Source: CRMLS, MLS #: 26986521

Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.