1438 14th Street, Santa Monica CA, 90404

Active

1438 14th Street

Santa Monica CA, 90404

$3,500,000

$411.86 per sqft

Active

16 Beds

16 Baths

8,498 sqft

Residential

Built in 1967

Listed by David Putnam with Berkshire Hathaway HomeServices California Properties 310-820-9395

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. 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 under documents. There are (6) 2 bedrooms/2 bathrooms and (4) 1 bedroom/1 bathroom apartments.10+ car parking. Good long term upside in rents. Close to restaurants and shopping in sunny Santa Monica! Seller is obtaining the pricing for the soft-story retrofit. 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!

24458595

MLSⓇ ID

November 8, 2024

Listed

November 16, 2024

Updated

Map

1438 14th Street
Santa Monica CA, 90404

Interior Features

Total Stories: 2
Bedrooms: 16
Total Bathrooms: 16
Laundry Description: Common Area
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: C14 - Santa Monica
Days on Market: 8
Garage: Yes
Parking: Covered, Carport, Door-Multi, Garage
Parking Total: 10
View: Yes
View Description: Park/Greenbelt
County: Los Angeles
Pool: No
Zoning: SMR3*

Listing Contact: 310-207-7080

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/16/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 11/16/2024 at 1:39 PM UTC