1518 Berkeley St, Santa Monica, CA 90404

1518 Berkeley St, Santa Monica, CA 90404

Santa Monica, CA

Property Description


  • (7) Massive 2-Bed/2-Bath townhouse style units offered at only $409/SF
  • Over 30% upside in current monthly rent
  • 7 Covered Parking spots on-site
  • Each unit averages about 1,300 SF
  • Will operate at a 11.79 GRM and 6.12% CAP once units are rented for market
  • Conveniently located in-between Santa Monica and Century City


Incredibly Rare Opportunity to own an all townhouse units in this 7 unit apartment building in an A+ location of Santa Monica. The property has great curb appeal and will attract high rents being located between downtown Santa Monica and Century City. With (2) units ready for renovation and over 30% upside in rents, once stabilized. 1518 Berkeley will proved a unique opportunity to own a lifetime trophy asset at a 11.79 GRM and 6.12% Market CAP Rate. This subject property is ideal for any investor looking for a value-add deal in a A+ location.
1518 Berkeley St has 8,914 SF of rentable space and a fantastic unit mix of (7) 2-Bed/2-Bath two-story townhomes, each averaging about 1,300 SF. Beneficial to the new owner, (2) units will be delivered ready for renovation. Along with ample street parking, the subject property has (7) covered parking spaces, as well.
1518 Berkeley is only minutes from millions of dollars in development, including Third Street Promenade, Santa Monica Airport, Miramar Hotel, and multiple mixed-use projects. This value-add property is an ideal pickup for any investor looking for a trophy asset with plenty of upside.

Property Features

  • Sale Price: $3,650,000
  • Area Size: 8,914 Sq. Ft.
  • Land Area: 8,133 Sq. Ft.
  • Year Built: 1965
  • Listing Date: 6/16/2022
  • Units: 7
  • Current GRM: 17.41
  • Current Cap Rate: 3.46%
  • Price Per Unit: $521,429
  • Market GRM: 11.79
  • Market Cap Rate: 6.12%
  • Current NOI: $126,408

Lyon Stahl Investment Real Estate

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