1243 12th Street

Santa Monica CA 90401

18832 sq. ft.

15007 sq. ft.

Other

Last sold for $4,850,000

Benjamin Lewin, last sold this property on 27 October 2026 after 308 days on market.

Overview

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, including 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.

Features

36 bedrooms

36 bathrooms

22 carspaces

6 open car spaces

18832 sq. ft. floor area

15007 sq. ft. lot size

Other

Estimated Value

We need at least 3 similar 36 bedroom other properties sold in Santa Monica over the last 12 months.

Property history for 1243 12th Street

2026

Sold

$4,850,000

27 Oct 2026 by Benjamin Lewin, of Marcus & Millichap

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