1248 5th Street, Santa Monica CA, 90401

Active

1248 5th Street

Santa Monica CA, 90401

$50,000,000

$1,501.77 per sqft

Active

33,294 sqft

Commercial

Built in 1938

Listed by Conor Halloran with Lee & Associates Los Angeles West Inc. 310-899-2700

Lee & Associates Los Angeles West Inc. & Bond Street Partners, acting as the exclusive advisor, are pleased to present the investment opportunity to acquire the 100% fee simple interest in 1248 5th Street, known as the Santa Monica Post Office. This iconic property offers an unprecedented opportunity to capitalize on Santa Monica's March 2023 Housing Element update to build 157 luxury residences anchored by 32,900 square feet of existing, architecturally stunning retail in the heart of Downtown Santa Monica. With its multi-level design, this two-story, historical building stands as a remarkable landmark and perfect jewel box owner-user compound with development potential. Its enviable location provides immediate access to a vibrant technology and creative community, prestigious shops, renowned restaurants, nightlife, and attractions, ensuring strong rental absorption and retail fundamentals. Boasting meticulously preserved interiors that exude an air of sophistication and charm, this space is truly unrivaled and ready for an investor to reinvent the asset into a world-class destination. Visit www.santamonicapostoffice.com for more information.

24355773

MLSⓇ ID

February 6, 2024

Listed

March 28, 2024

Updated

Map

1248 5th Street
Santa Monica CA, 90401

Interior Features

Total Stories: 2
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.86 Acres
Lot Features: Corner Lot, Rectangular Lot
Roof: Concrete, Flat

Other Property Details

Area Name: C14 - Santa Monica
Days on Market: 1
Garage: No
Parking Total: 87
View: No
County: Los Angeles
Water Source: Public
Pool: No
Zoning: SMC3C*

Listing Contact: 310-899-2700

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 3/28/2024 at 3:17 PM UTC