1247 11th St Immeuble residentiel 9 lots 3 438 640 € (382 071 €/Lot) Taux de capitalisation 5,97 % Santa Monica, CA 90401

EXP Commercial is pleased to present the opportunity to acquire the fee-simple interest in a 9-unit multifamily property located at 1247 11th Street, Santa Monica, California 90401. Situated on a 7,478 square foot parcel and totaling 7,547 rentable square feet, this well-maintained two-story asset offers investors a rare chance to own in one of the Westside’s most sought-after rental markets. Originally constructed in 1955 and extensively updated with modernized interiors, the property features a desirable unit mix of eight one-bedroom/one-bath units and one two-bedroom/one-bath unit.
Each renovated unit showcases premium finishes, including stainless steel appliances, quartz countertops, soft-close cabinetry, porcelain tile flooring, and fully remodeled bathrooms with stone gray tile and mosaic details. All units are equipped with in-unit laundry, significantly enhancing tenant demand. Recent capital improvements position the building to attract and retain high-quality tenants while minimizing near-term maintenance costs.
Further strengthening its appeal, the property includes eleven dedicated parking spaces—a highly valuable amenity in Santa Monica, where parking is traditionally scarce and costly. The building is separately metered for gas and electric, reducing landlord expenses and creating efficient operations. Strategically positioned in the heart of Santa Monica, the property benefits from a walk score of 91, bike score of 96, and transit score of 75, providing unmatched connectivity to retail, education, and employment hubs. Major demand drivers include UCLA, Santa Monica College, UCLA Santa Monica Medical Center, West LA VA Medical Center and Santa Monica High School. The property is also surrounded by entertainment, technology, and media headquarters such as Hulu, Riot Games, Activision Blizzard, Universal Music Group, Sony Pictures, Amazon Studios, and Oracle Corporation.
Additional lifestyle and cultural destinations such as the Santa Monica Pier, Third Street Promenade, Main Street District, Santa Monica Place, and Westfield Century City reinforce the area’s status as a premier residential market. With proximity to Beverly Hills’ Golden Triangle, Avenue of the Stars in Century City, Culver City Steps, and convenient access to Los Angeles International Airport (LAX), the property is ideally positioned to capture both local and regional rental demand. With its A+ location, strong nearby economic drivers, and long-term rental growth, 1247 11th Street presents investors with a unique opportunity to secure a stable, well-located multifamily asset in one of Southern California’s most resilient and high-barrier-to-entry markets.