1222 23rd

Description

FIRST TIME ON MARKET IN 40 YEARS!Introducing a truly rare offering in Santa Monica: a single-story, 4-unit bungalow-style property available for the first time in four decades. This charming property represents a unique opportunity for investors or owner-users seeking stable income and long-term appreciation in one of the Westside’s most sought-after coastal markets.Each unit offers enhanced privacy and strong tenant appeal compared to traditional multifamily buildings. The single-story design further contributes to ease of management and broad rental demand.Ideally situated within walking distance to Trader Joe's and Whole Foods Market (both ~300 feet away), and Saint John's Health Center (0.2 miles), the property benefits from exceptional day-to-day convenience and proximity to a major employment hub. The surrounding neighborhood is characterized by tree-lined streets, strong walkability, and easy access to Santa Monica’s retail corridors, beaches, and transit options.The property also features a detached 4-car garage, currently leased as storage, providing immediate supplemental income.Recent capital improvements include a brand-new roof installed in 2024, minimizing near-term maintenance expenses and enhancing asset stability.With Santa Monica’s historically low vacancy rates, high barriers to entry, and enduring tenant demand, this generational asset offers a compelling blend of current income, location-driven appreciation, and long-term investment stability.