1618 Berkeley St - Apartments FOR SALE


Santa Monica, CA 90404- Pico
$1,600,000 USD
310-550-2615
1618 Berkeley St, Santa Monica, CA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/25
null | 3.53% Cap Rate

1618 Berkeley St
Santa Monica, CA 90404
Pico


HIGHLIGHTS

  • Prime Santa Monica Multifamily Opportunity – Ideal for Owner-Occupiers and Investors
  • Vacant & Move-In Ready – Charming 2-bed, 1-bath
  • Possible Rent Control Exemption for Owner-Occupier
  • Detached Garage with Three Lockable Stalls - Candidate for Conversion into a 580 sq. ft. ADU
  • Top-Rated Schools - Santa Monica-Malibu Unified School District
  • Income Currently ~21% Below Market

OVERVIEW

PRIVATE PROPERTY. DO NOT DISTURB TENANTS. 1618 Berkeley Street in Santa Monica offers a unique opportunity for various buyers, from families seeking top-rated schools to those working from home or entering the multifamily investment market. Now vacant and ready for an owner-occupier or lease-up, a charming two-bedroom, one-bath unit features a peaceful rear patio, in-unit laundry, excellent light, and private access to a secured garage stall, plus an additional uncovered parking space. Income from the two additional units can help offset living expenses and support a mortgage. Families benefit from proximity to excellent public schools, while investors gain from income potential and the flexibility of a three-unit property in a premier rental submarket. Owner-occupiers may also apply for an exemption from city rent control, offering greater control over property operations. The front structure includes 1,823 square feet of living space: one two-bedroom, one-bath unit and two one-bedroom, one-bath units, plus a shared laundry room. The detached garage provides three lockable single-car stalls and two uncovered spaces, totaling five parking spots. Located between Colorado and Pennsylvania Avenues, the property is near major employers, top schools, Bergamot Station Arts Center, dining, shopping, and the beach, with easy transit access. Investors can add value through rent increases, unit renovations, or converting the detached garage into a 580-square-foot ADU. With rents approximately 21% below market, there's strong potential for returns. Whether for living, investing, or both, 1618 Berkeley Street offers location, income potential, and long-term growth in a prime Santa Monica setting. BUYERS MUST INDEPENDENTLY VERIFY ALL INFORMATION. RELIANCE ON THIS MEMORANDUM IS AT YOUR OWN RISK.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$656 USD /SF

# OF UNITS

3

PRICE/UNIT

$533,333

CAP RATE

3.53%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1953

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,861 SF

ZONING

SMR2

APN/PARCEL ID

4268-004-008

ASK ABOUT THIS PROPERTY

James KeadyCBREMore Info
310-550-2615

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James KeadyCBREMore Info
310-550-2615

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.