CA > Santa Monica
Santa Monica, CA 90404,1442 Stanford St
Santa Monica, CA 90404,1442 Stanford St
Santa Monica, CA 90404,1442 Stanford St
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$2,675,000
Est. payment /mo
11 Beds
11 Baths
7,204 SqFt
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UPDATED:

10/16/2024 05:20 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,204 sqft

Price per Sqft $371

MLS Listing ID 24-405337

Bedrooms 11

Year Built 1964

Lot Size 7,813 Sqft

Acres 0.1794

Property Description

JUST REDUCED 10/16/2024! INCREDIBLE OPPORTUNITY IN PRIME SANTA MONICA. Approved plans for two ADU units! Permits are READY TO ISSUE once fees are paid, meaning a buyer can break ground immediately upon closing. The addition of these units creates an exceptionally high cap rate for a multifamily property in prime Santa Monica! We are pleased to present for sale a high-quality multifamily asset in prime Santa Monica, CA. 1442 Stanford Street was built in 1964 and features 7 units with a gross square footage of 7,204. These spacious floorplans feature 1 and 2-bedroom options. There are (4) 2-bedroom, 2-bathroom units and (3) 1-bedroom, 1-bathroom units. Two of the units have been highly upgraded to include kitchens with quartz counters and shaker cabinets, bathrooms with floor to ceiling subway tile, and living areas with modern plank flooring and recessed lighting. 1442 Stanford is ideally located just south of Santa Monica Boulevard with easy access to both the beach and the greater Westside. Downtown Santa Monica is 2 miles to the west while West LA and the 405 freeway lie only 1.5 miles east. The stretch of Santa Monica Boulevard immediately adjacent to 1442 Stanford has seen quite a bit of recent development. The 50-unit project at 2828 Santa Monica was recently completed by LaTerra and another 88-unit project is slated to break ground on the opposite corner to the east. Stanford is also walking distance to many neighborhood attractions including outstanding restaurants, bars, and retail along Santa Monica Blvd, Broadway, and Wilshire Boulevard just to the north. For the savvy investor, 1442 Stanford St provides a well-managed and highly sought after property with significant future upside potential in one of the most desirable locations Los Angeles has to offer. 1442 Stanford St's assumable loan has an approximate balance of $1.375M with I/O payments and a fixed rate of 4.50% until 11/1/2029.

Location

State CA

County Los Angeles

Area Santa Monica

Zoning SMR2*

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Garage Garage

Garage Spaces 8.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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Listed by REMAX COMMERCIAL & INVESTMENT REALTY

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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