1222 Chelsea Avenue, Santa Monica, CA 90404
Local realty services provided by:Better Homes and Gardens Real Estate Everything Real Estate
1222 Chelsea Avenue,Santa Monica, CA 90404
$2,400,000
- 7 Beds
- 5 Baths
- 2,464 sq. ft.
- Multi-family
- Active
Listed by: melissa oliver, paul ferra
Office: coldwell banker realty
MLS#:26651929
Source:CRMLS
Price summary
- Price:$2,400,000
- Price per sq. ft.:$974.03
About this home
1222 Chelsea Avenue presents a rare opportunity to acquire a well-located triplex on a quiet, tree-lined street just moments from Douglas Park, neighborhood markets, shops, dining, and transit in one of Santa Monica's most desirable residential neighborhoods. The property consists of three thoughtfully configured units totaling approximately 2,464 square feet, including a charming front 3-bedroom, 2-bath cottage and a rear two-story duplex featuring a spacious 3-bedroom, 2-bath upper residence with a large private terrace and a 1-bedroom, 1-bath lower unit. The layout provides both separation and functionality, appealing to traditional tenants, extended households, or multi-generational living. A detached three-car garage and on-site laundry enhance convenience, usability, and long-term tenant appeal, while the overall scale of the property offers the intimacy of low-density ownership rarely available in Santa Monica's high-barrier-to-entry market. The property is currently leased to a single tenant under a month-to-month master lease generating approximately $152,340 annually ($12,695 per month), providing immediate income from day one with operational simplicity. At the offering price of $2,400,000, the asset reflects an in-place cap rate of approximately 4.50% based on current operations. Previously withdrawn from the rental market under the Ellis Act, with re-rental restrictions expired, the property offers a level of flexibility that is increasingly uncommon locally: a buyer may elect to continue the existing master lease structure, deliver the property vacant for personal occupancy or repositioning, or lease the units individually at market rates depending on investment strategy. This optionality allows alignment with a variety of objectives, whether seeking stabilized income, partial owner occupancy with supplemental rental revenue, a family compound configuration, or long-term hold in a premier coastal submarket. Operating expenses are consistent with typical small multifamily ownership, and recent 2025 capital improvements including plumbing, electrical, termite remediation, mold remediation, and foundation-related work provide additional confidence in the property's condition and ongoing durability. Rather than relying on speculative renovation or aggressive repositioning assumptions, the value of this offering centers on location, configuration, regulatory clarity, and structural flexibility within one of the Westside's most supply-constrained residential neighborhoods. Opportunities of this scale and versatility in Santa Monica are increasingly limited, making 1222 Chelsea Avenue a compelling option for both investors and owner-users seeking stable income, long-term appreciation potential, and meaningful control over future use.
Contact an agent
Home facts
- Year built:1923
- Listing ID #:26651929
- Added:11 day(s) ago
- Updated:February 24, 2026 at 08:25 PM
Rooms and interior
- Bedrooms:7
- Total bathrooms:5
- Living area:2,464 sq. ft.
Heating and cooling
- Heating:Central Furnace
Structure and exterior
- Year built:1923
- Building area:2,464 sq. ft.
- Lot area:0.12 Acres
Finances and disclosures
- Price:$2,400,000
- Price per sq. ft.:$974.03
New listings near 1222 Chelsea Avenue
- New
$1,595,000Active2 beds 2 baths886 sq. ft.1301 Stanford Street, Santa Monica, CA 90404
MLS# 26655437Listed by: CAMPBELL WELLMAN PROPERTIES - New
$3,275,000Active3 beds 3 baths1,655 sq. ft.928 26th Street, Santa Monica, CA 90403
MLS# 26656037Listed by: CAROLWOOD ESTATES - New
$2,750,000Active7 beds 4 baths5,100 sq. ft.914 18th Street, Santa Monica, CA 90403
MLS# 26656231Listed by: RODEO REALTY - New
$3,895,000Active2 beds 2 baths1,490 sq. ft.515 Ocean Avenue #706S, Santa Monica, CA 90402
MLS# 26655565Listed by: SOTHEBY'S INTERNATIONAL REALTY - New
$2,450,000Active6 beds 6 baths3,008 sq. ft.2122 20th Street, Santa Monica, CA 90405
MLS# 26653771Listed by: MILLER & DESATNIK REALTY CO. - New
$1,595,000Active2 beds 2 baths1,490 sq. ft.515 Ocean Avenue #503S, Santa Monica, CA 90402
MLS# CL26655395Listed by: THE AGENCY - New
$2,595,000Active2 beds 3 baths2,068 sq. ft.861 20th Street #1, Santa Monica, CA 90403
MLS# 26655801Listed by: COMPASS - New
$849,000Active1 beds 1 baths722 sq. ft.1912 Broadway #205, Santa Monica, CA 90404
MLS# CL26654777Listed by: SOTHEBY'S INTERNATIONAL REALTY - New
$3,450,000Active6 beds 5 baths3,271 sq. ft.1124 12th Street, Santa Monica, CA 90403
MLS# 26651635Listed by: THE HILLS PREMIER REALTY - New
$968,000Active2 beds 2 baths1,335 sq. ft.1337 Berkeley Street #6, Santa Monica, CA 90404
MLS# 26654917Listed by: THE SHER GROUP