Property listed by CB Richard Ellis, Inc., James Keady
$1,600,000
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… Read More 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. Read Less
Listing Snapshot
Days Online
70
Last Updated
Property Type
Other
Beds
4
Square Ft.
1,823
Lot Size
0.13 Acres
Year Built
1953
MLS Number
25508701
30 Days Snapshot Of 90404
$1.29M
-8%
(avg) sold price
8
+100%
homes sold
70
-21%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Disposal, Refrigerator, Dryer, Washer
Building
Built in 1953, Building area total: 1,823, Levels: One, Living area: 1823, 1 story, 2 buildings
Cooling
None
Floors
Tile, Wood
Garage
3 spaces
Heating
FloorFurnace
Income
Gross income: $92,693, Net operating income: $56,488
Interior Features
CeilingFans
Laundry
CommonArea
Lot
0.1346 acres, 5,861 square feet, Size: 5,861
Parking
2 open parking spaces, 5 totals parking, Assigned, Garage, GarageDoorOpener
Property
Zoning: SMR2*, Concrete
Tenant Pays
CableTv, Electricity, Gas
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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