1438 14th ST new 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 8,498 sqft
Price per Sqft $411
MLS Listing ID 24458595
Bedrooms 16
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. 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!
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Zoning SMR3*
Interior
Heating Natural Gas
Cooling None
Laundry Common Area
Exterior
Garage Covered,Carport,Door-Multi,Garage
View Y/N Yes
View Park/Greenbelt
Building
Story 2
New Construction No
Others
Special Listing Condition Standard