1438 14Th Street

Santa Monica, CA 90404

$3,500,000

List Price

16

bed Beds

14

shower Baths

8,498 sqft

straighten / sqft

1967

calendar_month Built

Property Description

First time on the market! Great value-add opportunity on this very well maintained 10 unit property. Some rents can be raised to the MARs (Buyer to confirm with Santa Monica Rent Control). There are (6) 2 bedrooms/1 3/4 bathrooms and (4) 1 bedroom/1 bathroom apartments.12 car parking. The 2 front units are split level with high ceilings. Good long term upside in rents. Close to restaurants and shopping in sunny Santa Monica! Gross Annual Income using current rents is $237,884. This should improve to approximately $250,352 with the several rents which can be raised to match MARs. The Gross Income, GRM and Cap rate below are based on $250,352 Gross. See current Rent Roll with potential increases (see documents tab). Property will need soft-story retrofit. Seller has provided two contractor proposals (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 41
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 14
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 Dec 20th, 2024 at 8:42 AM 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.