1438 14th St Santa Monica, CA 90404
Active
$3,500,000
10 Units
16 Beds
14.50 Baths
8,498 Area(sq.ft.)
7,491 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1.75 | No | $ 2,755 | $ 2,500 | $ 3,500 |
| Unit 10 | 1 | 2 | 1.75 | No | $ 2,680 | $ 2,106 | $ 3,500 |
| Unit 11 | 1 | studio | 0 | No | $ 167 | $ 167 | $ 167 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,022 | $ 1,850 | $ 2,900 |
| Unit 3 | 1 | 1 | 1 | No | $ 1,994 | $ 1,436 | $ 2,900 |
| Unit 4 | 1 | 2 | 1.75 | No | $ 2,828 | $ 2,321 | $ 3,500 |
| Unit 5 | 1 | 2 | 1.75 | No | $ 2,182 | $ 2,152 | $ 3,500 |
| Unit 6 | 1 | 1 | 1 | No | $ 2,167 | $ 1,800 | $ 2,900 |
| Unit 7 | 1 | 1 | 1 | No | $ 1,210 | $ 1,142 | $ 2,900 |
| Unit 8 | 1 | 2 | 1.75 | No | $ 2,587 | $ 2,200 | $ 3,500 |
| Unit 9 | 1 | 2 | 1.75 | No | $ 2,788 | $ 2,150 | $ 3,500 |
| 11 | 11 | 16 | 16 | $ 23,380 | $ 19,824 | $ 32,767 |
| MLS #: | 24-458595 |
| Days On Market: | 40 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 412 |
| Price per unit: | $ 350,000 |
| Year Built: | 1967 |
Property Details
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!Interested in this Listing?
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Income Details
| Rent Control: | Yes, 100% |
| Gross Operating Income: | $ 250,352 |
| Total Annual Expense: | $ 100,100 |
| Net Operating Income: | $ 149,252 |
| Gross Annual Income: | $ 250,352 |
| Cap Rate: | 4.3% |
| Gross Rent Multiplier: | 14.00 |
Structure
| Type of Units: | single level |
| Buildings: | 1 |
| Levels: | Two |
| Style: | Traditional |
| View Description: | Green Belt |
| Water: | Water District |
Land & Parking
| Zoning: | SMR3* |
| Parking Garage: | Carport, Covered Parking, Garage - 2 Car |
| Total Parking: | 10 |
Interior
| AC/Cooling: | None |
| Equipment: | Other |
| Heating: | Natural Gas |
| Laundry: | Community |
Exterior
Detailed Map
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