1115 14th Street

Santa Monica, CA 90403

  • 42 Bed(s)
  • 0 Bath(s)
  • 34,281 Sqft
  • 15030
    Sqft(Lot)
$20,850,000

Description

This is a prime investment opportunityat 1115 14th st, a 23-unit apartment complex located in the prestigious wilshire montana neighborhoodof santa monica. this well-maintained property boasts a desirable unit mix consisting of one single adu,five one-bedroom units, 14 two-bedroom units, two three-bedroom units, and a four-bedroom penthouse,complemented by 33 parking spaces, including ev charging stations and above-parking storage spaces.ownership has invested over $3.3 million in capital improvements since 2019, including the full renovationof 14 units featuring luxury upgrades such as stacked washers and dryers, wide plank vinyl flooring, recessedlighting, modern cabinetry, quartz countertops, stainless steel appliances, hvac, and smoothed ceilings.additionally, significant enhancements to the common areas and building systems have been made, includingplumbing, solar installation, complete elevator upgrade, and roofing improvements.the standout feature of the property is the four-bedroom penthouse, which underwent a $500k renovation.this two-story unit features a private, key-locked elevator, a 360-degree rooftop deck, a gourmet kitchen,an open living room with balcony access, and luxury amenities such as a home office, laundry room, andsteam shower.with no deferred maintenance and strong existing cash flow, the property presents an additional 35%rental upside through continued unit turnovers and renovations. the offering includes favorable assumablefinancing with a $7.974 million principal balance, interest-only at a 2.90% rate, maturing in 2030.located just blocks from premier retail amenities along wilshire blvd and close to the ucla santa monicamedical center, 1115 14th st offers an ideal living environment for residents commuting to employment hubsacross santa monica, brentwood, west la, and beyond. the santa monica submarket continues to be highlyattractive for investors due to consistent rent growth and property value appreciation.this is a unique opportunity to acquire a high-performing asset in one of southern california's most soughtafterneighborhoods.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    47172791

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Property Details

  • Bedroom Information

    • Total Bedrooms : 42

    Bathroom Information

    • Total Baths: 41
    • Full Baths: 0
    • Half Baths: 0

    Cooling Features

    • None
    • Air Conditioning

    Heating Source

    • None
    • Has Heating

  • Building Information

    • Year Built: 1972
    • Building Area Total: 34,281

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.345
    • Lot Size Source: Vendor Enhanced
    • Lot Size Square Feet: 15030

  • Listing Price Information

    • Original List Price: 20,850,000
    • Listing Contract Date: 2024-10-07

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 4281011029

  • Garage and Parking

    • Garage Description: Driveway Down Slope From Street

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: C14 - Santa Monica
    • Directions: 1115 14th St is a 23-unit apartment complex located in the prestigious Wilshire Montana neighborhood of Santa Monica.
    • Zoning: SMR2*
    • Source Property Type: Residential Income
    • Area: C14 - Santa Monica

    Building and Construction

    • Property Age: 52
    • Year Built Source: Vendor Enhanced
    • Total Square Feet Living: 34281
    • Levels or Stories: Multi/Split
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BuyOwner last updated this listing 11/17/2024 @ 12:23

  • MLS: 24452667
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 42 bedrooms which is for sale, it has 34,281 sqft, 15,030 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Santa Monica , in zip code 90403, this Los Angeles County Home are nearby neighborhoods.