Active
1442 Stanford St
Santa Monica CA, 90404
$2,750,000
$381.73 per sqft
Active
11 Beds
11 Baths
7,204 sqft
Multi-family
Built in 1964
Approved plans for two ADU units! Permits are READY TO ISSUE once fees are paid, meaning a buyer can break ground immediately upon closing. The addition of these units creates an exceptionally high cap rate for a multifamily property in prime Santa Monica! We are pleased to present for sale a high-quality multifamily asset in prime Santa Monica, CA. 1442 Stanford Street was built in 1964 and features 7 units with a gross square footage of 7,204. These spacious floorplans feature 1 and 2-bedroom options. There are (4) 2-bedroom, 2-bathroom units and (3) 1-bedroom, 1-bathroom units. Two of the units have been highly upgraded to include kitchens with quartz counters and shaker cabinets, bathrooms with floor to ceiling subway tile, and living areas with modern plank flooring and recessed lighting. 1442 Stanford is ideally located just south of Santa Monica Boulevard with easy access to both the beach and the greater Westside. Downtown Santa Monica is 2 miles to the west while West LA and the 405 freeway lie only 1.5 miles east. The stretch of Santa Monica Boulevard immediately adjacent to 1442 Stanford has seen quite a bit of recent development. The 50-unit project at 2828 Santa Monica was recently completed by LaTerra and another 88-unit project is slated to break ground on the opposite corner to the east. Stanford is also walking distance to many neighborhood attractions including outstanding restaurants, bars, and retail along Santa Monica Blvd, Broadway, and Wilshire Boulevard just to the north. For the savvy investor, 1442 Stanford St provides a well-managed and highly sought after property with significant future upside potential in one of the most desirable locations Los Angeles has to offer. 1442 Stanford St's assumable loan has an approximate balance of $1.375M with I/O payments and a fixed rate of 4.50% until 11/1/2029.
24-405337
MLSⓇ ID
June 18, 2024
Listed
September 5, 2024
Updated
Map
1442 Stanford St
Santa Monica CA, 90404
Interior Features
Total Stories
2
Bedrooms
11
Total Bathrooms
11
Appliances
Other
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.18 Acres
Other Property Details
Area Name
Santa Monica
Days on Market
79
Garage
Yes
Parking
Garage
Parking Total
8
View
No
County
Los Angeles
Pool
No
Zoning
SMR2*
Listing History
Date | Event | Price |
---|---|---|
7/15/2024 | Price change | $2,750,000 -7% |
Listed by Robert Renshaw with REMAX COMMERCIAL & INVESTMENT REALTY
Listing Contact: 424-293-4770
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 Shelhee Gal | CA DRE# 01721758 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 9/5/2024