1442 Stanford Street

Santa Monica, CA 90404

$2,675,000
Price
11
Beds
11
Baths
7,204 Sq. Ft.
$371 / Sq. Ft.
7,204
Sq. Ft.
$371
per Sq. Ft.

Description

Just reduced 10/16/2024! Incredible opportunity in prime santa monica. Approved plans for two ADU units! Permits are READY TO ISSUE once fees are paid, meaning a buyer can break ground immediately upon closing. The addition of these units creates an exceptionally high cap rate for a multifamily property in prime Santa Monica! We are pleased to present for sale a high-quality multifamily asset in prime Santa Monica, CA. 1442 Stanford Street was built in 1964 and features 7 units with a gross square...Just reduced 10/16/2024! Incredible opportunity in prime santa monica. Approved plans for two ADU units! Permits are READY TO ISSUE once fees are paid, meaning a buyer can break ground immediately upon closing. The addition of these units creates an exceptionally high cap rate for a multifamily property in prime Santa Monica! We are pleased to present for sale a high-quality multifamily asset in prime Santa Monica, CA. 1442 Stanford Street was built in 1964 and features 7 units with a gross square footage of 7,204. These spacious floorplans feature 1 and 2-bedroom options. There are (4) 2-bedroom, 2-bathroom units and (3) 1-bedroom, 1-bathroom units. Two of the units have been highly upgraded to include kitchens with quartz counters and shaker cabinets, bathrooms with floor to ceiling subway tile, and living areas with modern plank flooring and recessed lighting. 1442 Stanford is ideally located just south of Santa Monica Boulevard with easy access to both the beach and the greater Westside. Downtown Santa Monica is 2 miles to the west while West LA and the 405 freeway lie only 1.5 miles east. The stretch of Santa Monica Boulevard immediately adjacent to 1442 Stanford has seen quite a bit of recent development. The 50-unit project at 2828 Santa Monica was recently completed by LaTerra and another 88-unit project is slated to break ground on the opposite corner to the east. Stanford is also walking distance to many neighborhood attractions including outstanding restaurants, bars, and retail along Santa Monica Blvd, Broadway, and Wilshire Boulevard just to the north. For the savvy investor, 1442 Stanford St provides a well-managed and highly sought after property with significant future upside potential in one of the most desirable locations Los Angeles has to offer. 1442 Stanford St's assumable loan has an approximate balance of $1.375M with I/O payments and a fixed rate of 4.50% until 11/1/2029.
  1. Listed by Robert Renshaw • DRE #01332831 • Brokerage DRE #01164364 • REMAX COMMERCIAL & INVESTMENT REALTY
  2. Listed by Jonathan Taksa • DRE #01366169 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 1442 Stanford Street

Zoning
SMR2*
Parcel Number
4267018019
Total Units
7.0
Living Area
7204
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
0
Lot Size Area
7813
LISTING UPDATED: 10/16/2024 10:20 AM

Property Details for 1442 Stanford Street

StatusActive
MLS #24-405337
Days on Market144
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.18 AC / 7,813 SF
CountyLos Angeles County

Building Information for 1442 Stanford Street

Stories2Residences-Year Built1964Building Size-Lot Size0.18 AC / 7,813 SF

Property Information for 1442 Stanford Street

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $254,676
  • Net Operating Income: $188,461.00
  • Gross Income: $252,876
  • Cap Rate: 6.44%
  • Gross Rent Multiplier: $11.49
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 58628
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1794
  • Lot Size Square Feet: 7813
  • Lot Size Dimensions: 48x162
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 8
  • Parking Features: Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-18-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,238.00
  • Unit Actual Rent: $8,953.00
  • Unit Projected Rent: $15,180.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,373.00
  • Unit Actual Rent: $7,120.00
  • Unit Projected Rent: $8,985.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,062,248.00
  • Assessed Improvement Percent: 33.8
  • Assessed Land Value: $2,080,800.00
  • Assessed Land Percent: 66.2
  • Assessed Total Value: $3,143,048.00

Property History for 1442 Stanford Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 1442 Stanford 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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1442 Stanford Street is a multi-family home for sale in Santa Monica, CA 90404. This property was listed for sale on June 18, 2024 by REMAX COMMERCIAL & INVESTMENT REALTY, it's currently listed at $2,675,000. 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. 1442 Stanford Street is a 11-bed, 11-bath, 7,204 sqft multi-family home built in 1964.

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 REMAX COMMERCIAL & INVESTMENT REALTY, Robert Renshaw, DRE #01332831; Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

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.