1442 Stanford Street
$2,675,000
11
11
7,204
7,204
$371
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.
- Listed by Robert Renshaw • DRE #01332831 • Brokerage DRE #01164364 • REMAX COMMERCIAL & INVESTMENT REALTY
- Listed by Jonathan Taksa • DRE #01366169 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty
Property Details for 1442 Stanford Street
Zoning
SMR2*
Parcel Number4267018019
Total Units7.0
Living Area7204
Source Living AreaVendor Enhanced
AreaSanta Monica (C14)
Vacancy Rate0
Lot Size Area7813
LISTING UPDATED: 10/16/2024 10:20 AM
Property Details for 1442 Stanford Street
Status | Active |
---|---|
MLS # | 24-405337 |
Days on Market | 144 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1964 |
Lot Size | 0.18 AC / 7,813 SF |
County | Los 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
Property History for 1442 Stanford Street
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.