Homes for sale - 1438 14th ST, Santa Monica, CA 90404

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Ernie Caponera

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

$3,500,000

Est. payment - /mo

16 Beds

16 Baths

8,498 SqFt

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UPDATED:

11/20/2024 07:29 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,498 sqft

Price per Sqft $411

MLS Listing ID 24458595

Bedrooms 16

HOA Y/N No

Year Built 1967

Lot Size 7,492 Sqft

Property Description

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!

Location

State CA

County Los Angeles

Area C14 - Santa Monica

Zoning SMR3*

Interior

Heating Natural Gas

Cooling None

Fireplace No

Laundry Common Area

Exterior

Parking Features Covered, Carport, Door-Multi, Garage

View Y/N Yes

View Park/Greenbelt

Total Parking Spaces 10

Building

Story 2

Entry Level Two

Architectural Style Traditional

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4282022008

Special Listing Condition Standard

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Listed by David Putnam • Berkshire Hathaway HomeServices California Properties

"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

1438 14th ST Santa Monica, CA 90404