1438 14th St Active Save Request In-Person Tour Request Virtual Tour
Santa Monica,CA 90404
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,498 sqft
Price per Sqft $411
MLS Listing ID 24-458595
Style Traditional
Bedrooms 16
Year Built 1967
Lot Size 7,491 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 Santa Monica
Zoning SMR3*
Rooms
Other Rooms None
Interior
Heating Natural Gas
Cooling None
Equipment Other
Laundry Community
Exterior
Garage Carport, Covered Parking, Garage - 2 Car
Garage Spaces 10.0
View Y/N Yes
View Green Belt
Building
Story 2
Water Water District
Others
Special Listing Condition Standard