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 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 11/22/2024
