With its phenomenal location just south of Montana Avenue, the 12th Street Apartments is a fantastic reposition opportunity. There are currently 4 vacant apartments that can be renovated and rented shortly after closing. With ample parking, an oversized lot, and just 12 short blocks from Inspiration Point and Palisades Park, this property is ripe with options. Please note there is a deed restriction on the existing 11 units with the City of Santa Monica requiring units to be rented to 30% AMI Households. However, Section 8 program tenants qualify and this allows for the units to be rented close to market with the the Section 8 program paying the bulk of their rent. (Buyer to independently verify.) Importantly there is…
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The average household income in
Santa Monica, CA
grew
from
$82,123
to
$86,084
in the past year. This data is an estimate based upon
46,358
households in
Santa Monica, CA. The chart below presents how household income is distributed in
Santa Monica, CA
in comparison to the revenue allocation amid households nationally.
Property Taxes
Average range: $3k+
One of the most important aspects for property owners is the amount of property taxes. This graph shows
distribution of property taxes in
Santa Monica, CA
compared to median property taxes around the country. The prevalent amount of property taxes in
Santa Monica, CA
equals
$3k+
, which is
more
than the national average.