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Backup Offers

1618 Berkeley St, Santa Monica, CA, 90404

$1,600,000

Home List Price

$10,000*

Closing Credit

4 Bedrooms
3 Baths
1,823 SqFt
$878/SqFt
House

Location

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1618 Berkeley St, Santa Monica$1,600,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingAssigned, Door-Multi, Garage, Uncovered
Garage3 spaces
Year Built1953
HeatingNatural Gas
CoolingNone
MLS #24402659
Lot Size0.13 Acres
StatusAccepting Backup Offers
(Active Under Contract)

About 1618 Berkeley St

NOW AVAILABLE FOR $1,600,000 + TWO-BEDROOM UNIT DELIVERED VACANT. USE INCOME FROM OTHER TWO UNITS TO HELP COVER MORTGAGE. POTENTIAL TO EXEMPT PROPERTY FROM CITY RENT CONTROL IF OWNER-OCCUPIED. ADU POTENTIAL. Private property. Do not walk onto property or disturb tenants. Tours by appointment only. CBRE, Inc. exclusively presents 1618 Berkeley Street in Santa Monica, CA. This multifamily investment opportunity consists of two structures built in 1953 on a 5,861 square foot lot on a quiet, smart, treelined street. The property's front structure has three units: one (1) two-bedroom-one-bath unit, and two (2) one-bedroom-one-bath units, totaling 1,823 square feet of living space. Additionally, the front structure offers a dedicated 36 square foot shared laundry room. A detached structure at the rear of the property provides three individually lockable single-car stalls, totaling 580 square feet of garage space. The lot also provides two uncovered parking spaces, creating five total spaces and a parking ratio of 1.67 : 1. The property offers an attractive blend of location, potential for income growth via value-add renovations, and the potential to create even more revenue with the creation of an ADU. Current income at the property is approximately 21% below market. As the building is subject to Santa Monica Rent Control, a new owner may have the opportunity to increase rents to market at tenant turnover, or further increase rental income with complete unit renovations upon vacancy. And, the property's detached garage structure offers the perfect space for conversion to a 580 SF Accessory Dwelling Unit (buyer to verify compatibility with zoning & city code). It is a true value-add opportunity in an affluent area that combines high-quality living standards and employment opportunities. For either an owner occupier or an owner investor, 1618 Berkeley Street offers an excellent opportunity to acquire a fantastic piece of real estate in a premier neighborhood. You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

Property Details

Property Features

Property Information:

  • Year Built: 1953
  • Stories: 1
  • Living Area: 1,823 SqFt

Listing Office:

  • Office Name: CB Richard Ellis, Inc.
  • Listing Agent: James Keady

Interior Features

Interior Information:

  • Appliances: Disposal, Gas Oven, Dryer, Washer

Bedroom and Bathroom Information:

  • Total Bedroom Count: 4

Exterior Features

Parking Information:

  • Garage Space: 3 spaces
  • Attached Garage: No
  • Parking: Assigned, Door-Multi, Garage, Uncovered

Lot Features

Lot Information:

  • Lot: Front Yard, Rectangular Lot
  • Lot Size: 0.13 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas
  • Cooling: None

Other

Directions Information:

  • Directions: Between Colorado Avenue and Pennsylvania Avenue.

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,600,000
  • Price Per SqFt: $878/SqFt

Tax Information:

  • Annual Amount: $13,358
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Santa Monica, CA.

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Santa Monica, CA

City

Med. Sold Price

$1.8M

Med. Price/SqFt

$1,106

Avg. Days On Market

41

# of Sold Homes

62

1618 Berkeley St vs Santa Monica

162 DAYS ON ROCKET

+121 Days

$1,600,000

-$240K Less

$878/SqFt

-$228 Less

KEY TAKEAWAY

This property is $240K less than the Median Sold Price and $228/SqFt less than other homes in Santa Monica, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24402659

Listing Office:

  • Office Name: CB Richard Ellis, Inc.
  • Listing Agent: James Keady

IDX Based on information from California Regional Multiple Listing Service, Inc. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 8:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jul 25, 2003Home Sold
$815,000
Aug 24, 2001Home Sold
$500,000

Tax History

YEARPROP. TAXASSESSMENT
2021$13,358$1,070,506
2020$13,128$1,059,530
2019$12,303$1,038,755
2018$12,244$1,018,388
2017$12,244$998,420

History based on county public records data.

Payment Calculator

$8,053

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,863

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-235884
7
/10

  • McKinley Elementary School

  • 2401 Santa Monica Blvd

  • 0.64 miles

  • Public District Grades KG-5

school-card-donut-235885
8
/10

  • Edison Language Academy

  • 2402 Virginia Ave

  • 0.68 miles

  • Public District Grades PK-5

school-card-donut-235886
6
/10

  • Brockton Avenue Elementary

  • 1309 Armacost Ave

  • 0.72 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $82,813. Most Santa Monica, CA residents have annual incomes between $35k-100k. Typical family type is single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1618 Berkeley St

What is the listing price of this property?

The listing price of 1618 Berkeley St property is $1,600,000.

What type of property is this?

The property 1618 Berkeley St is a house located in Santa Monica, California, 90404.

Is this property for sale now?

Accepting Backup Offers: 1618 Berkeley St is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $13,358 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on July 25, 2003 for $815,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 1618 Berkeley St has 4 bedrooms and 3 bathrooms.

What is the square footage of this property?

The property 1618 Berkeley St is 1,823 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 1618 Berkeley St is 1953.

Rocket Homes›California›Los Angeles County›Santa Monica›90404›1618 Berkeley St

This home is located at 1618 Berkeley St in Santa Monica, CA and zip code 90404 in the Pico neighborhood. This 1,823 square foot home, which was built in 1953, sits on a 0.13 acre lot. Features: 4 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since June 11, 2024 and is currently priced at $1,600,000.

In October 2024, from all listings sold in Santa Monica, CA there were more than 22 sold above asking price, over 33 sold below and more than 7 were sold right at the asked price. In October 2024 in Santa Monica, CA there were 14% more homes for sale than in September 2024. While the average time on the market in October 2024 was 41 days, the median list price was $1,840,000.

From Rocket Homes Real Estate and based on county public records data.

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