1438 14Th Street

Santa Monica, CA 90404 Active for $3,500,000

Overview
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Beds: 16 Baths: 14 Structure Size: 8,498 sqft Lot Size: 7,491 sqft

Property Facts

MLS	24458595
Year Built	1967
Property Type
County	Los Angeles
Status	Active
Active	$3,500,000
Structure Size	8,498 sqft
Lot Size	7,491 sqft
Beds	16
Baths	14

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 courtesy of: David Putnam, Berkshire Hathaway HomeServices California Properties 310-820-9395. *Based on information from the Association of REALTORS/Multiple Listing as of 01/09/2025 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.