1427 15th ST Active Save Request In-Person Tour Request Virtual Tour
Santa Monica,CA 90404
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
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
Exterior
Garage Covered
Building
Story 2
New Construction No
Others
Special Listing Condition Standard