1438 14Th Street

Santa Monica, CA 90404

$3,500,000

List Price

16

bed Beds

16

shower Baths

8,498 sqft

straighten / sqft

1967

calendar_month Built

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!

Listing Information

List Price $3,500,000
Status Active
MLS 24458595
Type Residential Income
Year Built 1967
Lot Size 7,491
Structure Size 8,498
DOM 12
Courtesy Of Berkshire Hathaway HomeServices California Properties
Listing Agent David Putnam DRE#01036004

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms 16
Total Bathroom
Bathrooms 16
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: David Putnam, Berkshire Hathaway HomeServices California Properties 310-820-9395. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 20th, 2024 at 7:29 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.