CA > Santa Monica
Santa Monica, CA 90404,1438 14th St
Santa Monica, CA 90404,1438 14th St
Santa Monica, CA 90404,1438 14th St
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$3,500,000
Est. payment /mo
16 Beds
16 Baths
8,498 SqFt
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UPDATED:

11/20/2024 06:20 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,498 sqft

Price per Sqft $411

MLS Listing ID 24-458595

Style Traditional

Bedrooms 16

Year Built 1967

Lot Size 7,491 Sqft

Acres 0.172

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 (Buyer to confirm with Santa Monica Rent Control). 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 (see documents tab). There are (6) 2 bedrooms/2 bathrooms and (4) 1 bedroom/1 bathroom apartments.12 car parking. The 2 front 2 bedrooms/2 bathroom units are split level with high ceilings. Good long term upside in rents. Close to restaurants and shopping in sunny Santa Monica! Seller provided a soft-story retrofit proposal (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!

Location

State CA

County Los Angeles

Area Santa Monica

Zoning SMR3*

Rooms

Other Rooms None

Interior

Heating Natural Gas

Cooling None

Equipment Other

Laundry Community

Exterior

Garage Carport, Covered Parking, Garage - 2 Car

Garage Spaces 10.0

View Y/N Yes

View Green Belt

Building

Story 2

Water Water District

Architectural Style Traditional

Level or Stories Two

Others

Special Listing Condition Standard

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TheMLS (CLAW)
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Listed by Berkshire Hathaway HomeServices California Propert

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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