$2,450,000
1427 15th Street, Santa Monica 90404
8
Beds
6
Baths
8,623
Square feet
7,495
Lot Size
10
# Of Units
Listing Agent
Benjamin J. Hsiang - Realty Investment Advisors, Inc.PRICE REDUCED FOR FAST SALE! We are pleased to present 1427 15th Street, a 10 unit apartment building in Santa Monica. Eight of the 10 units are deed-restricted to 30% AMI affordability, limiting rent levels on those 8 units to $757 for 1 bedroom units and $898 for 2 bedroom units. However, unit 4 (2 bed 2 bath) and unit 10 (3 bed 2 bath) are NOT deed-restricted and can be leased out at MARKET rents. Both of the market rate units have been taken down to the studs and will be delivered vacant creating the perfect opportunity for a new owner to customize to their own specifications. The top floor 3 bed 2 bath "owner's unit" which offers incredible amazing city views from the balcony is PERFECT FOR AN OWNER/USER. The property includes a total of 11 parking spaces consisting of a tandem space, two 2-car garages, and seven single spaces. There is potential to convert the two-car garages into market-rate ADUs (Buyer to verify with the city). In total there are six vacant units (3 rent ready and 3 gutted units). Santa Monica is known for its excellent schools, community parks, and a vibrant beach-town atmosphere. The mid-city area's lively ambiance and convenient lifestyle make it highly desirable for renters and an enticing proposition for investors looking to capitalize on the city's robust rental market.
Facts & Features
MLS® # | 23310071 |
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Price | $2,450,000 |
Bedrooms | 8 |
Bathrooms | 6.00 |
Square Footage | 8,623 |
Lot Size | 7,495 |
Year Built | 1968 |
Type | Residential Income |
Status | Active |
# Of Units | 10 |
Community Information
Address | 1427 15th Street |
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Area | C14 - Santa Monica |
City | Santa Monica |
County | Los Angeles |
Zip Code | 90404 |
Amenities
Parking Spaces | 11 |
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Parking | Covered |
Garages | Covered |
Is Waterfront | No |
Has Pool | No |
Interior
Appliances | Refrigerator, Dryer, Washer |
---|---|
Heating | Wall Furnace |
Cooling | None |
Has Basement | No |
Fireplace | No |
# of Stories | 2 |
Stories | Two |
Additional Information
Date Listed | January 22nd, 2024 |
---|---|
Days on Market | 118 |
Zoning | SMR3* |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Benjamin J. Hsiang |
---|---|
Office | Realty Investment Advisors, Inc. |