Homes for sale - 1427 15th ST, Santa Monica, CA 90404

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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$1,900,000

Est. payment - /mo

18 Beds

13 Baths

8,623 SqFt

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UPDATED:

10/18/2024 11:21 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,623 sqft

Price per Sqft $220

MLS Listing ID 24451475

Bedrooms 18

HOA Y/N No

Year Built 1968

Lot Size 7,496 Sqft

Property Description

RECEIVERSHIP SALE! We are pleased to present 1427 15th Street, a 10 unit apartment building in Santa Monica. Eight of the 10 units are deed-restricted to 30% AMI affordability, limiting rent levels on those 8 units to $832 for 1 bedroom units and $988 for 2 bedroom units. However, unit 4 (2 bed 2 bath) and unit 10 (3 bed 2 bath) are NOT deed-restricted and can be leased out at MARKET rents. Both of the market rate units have been taken down to the studs and will be delivered vacant creating the perfect opportunity for a new owner to customize to their own specifications. The top floor 3 bed 2 bath "owner's unit" which offers incredible amazing city views from the balcony is PERFECT FOR AN OWNER/USER. The property includes a total of 11 parking spaces consisting of a tandem space, two 2-car garages, and seven single spaces. There is potential to convert the two-car garages into market-rate ADUs (Buyer to verify with the city). In total there are 7 vacant units (4 rent ready and 3 gutted units). Santa Monica is known for its excellent schools, community parks, and a vibrant beach-town atmosphere. The mid-city area's lively ambiance and convenient lifestyle make it highly desirable for renters and an enticing proposition for investors looking to capitalize on the city's robust rental market. NOTE: Property sale is subject to court confirmation including a 60-day appeal period and may be subject to overbid. As such, Seller cannot guarantee a particular sale date.

Location

State CA

County Los Angeles

Area C14 - Santa Monica

Zoning SMR3*

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Parking Features Covered

Total Parking Spaces 11

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4282020019

Special Listing Condition Standard

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Listed by Benjamin J. Hsiang • Realty Investment Advisors, Inc.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

1427 15th ST Santa Monica, CA 90404