Active

1438 14th St

Santa Monica CA, 90404

$3,500,000


$411.86 per sqft

Active

16 Beds

16 Baths

8,498 sqft

Multi-family

Built in 1967

12.5 GRM with Maximum Allowable Rents (MARs) in place! Rents and Gross income, listed below, are with MARs. First time on the market! Great value-add opportunity on this 10 unit property. Current rents are 15% below the City of Santa Monica MARs. Raise the rents with proper notice to the tenants (Buyer to confirm with Santa Monica Rent Control). Gross Annual Income using MARs is $280,556 (12.5 X gross). Gross Annual Income using current rents is $237,884. See current Rent Roll and MAR rent roll (see documents tab). There are (6) 2 bedrooms/2 bathrooms and (4) 1 bedroom/1 bathroom apartments.12 car parking. The 2 front 2 bedrooms/2 bathroom units are split level with high ceilings. Good long term upside in rents. Close to restaurants and shopping in sunny Santa Monica! Seller provided a soft-story retrofit proposal (see documents tab) Inside with an accepted offer. Please do not disturb tenants. Please text for the quickest response. Voicemail and email also answered promptly. Thank you for your interest!

24-458595

MLS ID

November 8, 2024

Listed

November 22, 2024

Updated

Map

1438 14th St
Santa Monica CA, 90404

Interior Features

Total Stories

2


Bedrooms

16


Total Bathrooms

16


Appliances

Other


Laundry Description

Community


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Natural Gas

Exterior/Building Features

Lot Size

0.17 Acres


Architectual Style

Traditional

Other Property Details

Area Name

Santa Monica


Days on Market

12


Garage

Yes


Parking

Carport, Covered Parking, Garage - 2 Car


Parking Total

10


View

Yes


View Description

Green Belt


County

Los Angeles


Water Source

Water District


Pool

No


Zoning

SMR3*

Listing History

Date

Event

Price

11/8/2024

Active

Listed by David Putnam with Berkshire Hathaway HomeServices California Propert
Listing Contact: 310-890-7438 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Beachrock Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 11/22/2024

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