1438 14th Street

Santa Monica, CA 90404

$3,500,000
Price
16
Beds
16
Baths
8,498 Sq. Ft.
$412 / Sq. Ft.
8,498
Sq. Ft.
$412
per Sq. Ft.

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...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!
  1. Listed by David Putnam • DRE #01036004 • Brokerage DRE #00625377 • Berkshire Hathaway HomeServices California Propert

Property Details for 1438 14th Street

Zoning
SMR3*
Style
Traditional
Cross Streets
14th St. and Santa Monica Blvd
Parcel Number
4282022008
Total Units
10.0
Living Area
8498
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
LISTING UPDATED: 11/20/2024 11:20 AM

Property Details for 1438 14th Street

StatusActive
MLS #24-458595
Days on Market13
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1967
Lot Size0.17 AC / 7,491 SF
CountyLos Angeles County

Building Information for 1438 14th Street

Stories2Residences-Year Built1967Building Size-Lot Size0.17 AC / 7,491 SF

Property Information for 1438 14th Street

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: single level
  • View: Yes
  • View Description: Green Belt
  • View: Park/Greenbelt
  • Water: Water District
Contract Info
Contract Info
  • Disclosures: As Is, Other
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $280,556
  • Net Operating Income: $180,456.00
  • Gross Income: $280,556
  • Cap Rate: 5.20%
  • Gross Rent Multiplier: $12.50
  • Financial Info as Of: 01/01/2024
  • Total Annual Expense: 100100
  • Water Expense: $7,363.00
  • Gas Expense: $2,630
  • Electric Expense: $1,745.00
  • Other Expense: $12,124.00
  • Expense Pest: $240.00
  • Tax Expense: $43,750
  • Gardener Expense: $4,645
  • Expense Licenses: $2,280.00
  • Insurance Expense: $12,133
Land / Lot Info
Land / Lot Info
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.172
  • Lot Size Square Feet: 7491
Parking Details
Parking Details
  • Parking Garage: Carport, Covered Parking, Garage - 2 Car
  • Total Parking: 10
  • Covered Parking: 8
  • Open Other Spaces Total: 2
  • Parking Features: Carport, Covered, Garage - Two Door
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
Exterior Features
Exterior Features
  • Entry Location: Main Level
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-08-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,755.00
  • Unit Actual Rent: $2,500.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,022.00
  • Unit Actual Rent: $1,850.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,994.00
  • Unit Actual Rent: $1,436.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,828.00
  • Unit Actual Rent: $2,321.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,182.00
  • Unit Actual Rent: $2,152.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,167.00
  • Unit Actual Rent: $1,800.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,210.00
  • Unit Actual Rent: $1,142.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,587.00
  • Unit Actual Rent: $2,200.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,788.00
  • Unit Actual Rent: $2,150.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 10 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,680.00
  • Unit Actual Rent: $2,106.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 11 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $167.00
  • Unit Actual Rent: $167.00
  • Unit Projected Rent: $167.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $144,823.00
  • Assessed Improvement Percent: 41.67
  • Assessed Land Value: $202,758.00
  • Assessed Land Percent: 58.33
  • Assessed Total Value: $347,581.00

Property History for 1438 14th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1438 14th Street

Taxable ValueLand$206,813Additions$147,719Total$354,532
Tax Record2024$6,129 ($511 / month)
Home Facts
Total Finished SqFt8,498 SqFtAbove Grade Finished SqFt8,498 SqFtLot Size7,489 SqFtStyleMulti-Family Res (5+ Units)Year Built1967ZoningSMR3*CountyLOS ANGELESAPN4282-022-008

Schools near 1438 14th Street

This home is within Santa Monica-Malibu Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
McKinley Elementary School
PublicK to 5

Lincoln Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Olympic High (Continuation) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1438 14th Street is a multi-family home for sale in Santa Monica, CA 90404. This property was listed for sale on November 8, 2024 by Berkshire Hathaway HomeServices California Propert, it's currently listed at $3,500,000. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include McKinley Elementary School, Lincoln Middle School and Santa Monica High School. 1438 14th Street is a 16-bed, 16-bath, 8,498 sqft multi-family home built in 1967.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices California Propert, David Putnam, DRE #01036004

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.