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1438 14th Street, Santa Monica, CA 90404
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1438 14th Street
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  • MLS#: 24458595 ( )
  • Street Address: 1438 14th Street
  • Viewed: 2
  • Price: $3,500,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1967
  • Bldg sqft: 0
  • Days On Market: 7
  • Additional Information
  • County: LOS ANGELES
  • City: Santa Monica
  • Zipcode: 90404
  • Provided by: Berkshire Hathaway HomeServices California Propert
  • Contact: David David
  • California Regional MLS IDX
  • DMCA Notice
  • 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. 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 under documents. There are (6) 2 bedrooms/2 bathrooms and (4) 1 bedroom/1 bathroom apartments.10+ car parking. Good long term upside in rents. Close to restaurants and shopping in sunny Santa Monica! Seller is obtaining the pricing for the soft story retrofit. 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!
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Features
Architectural Style
  1. Traditional
Building Area Total
  1. 8498.00
Cooling
  1. None
Country
  1. US
Electric Expense
  1. 1745.00
Entry Location
  1. Main Level
Gardner Expense
  1. 4645.00
Heating
  1. Natural Gas
Insurance Expense
  1. 12133.00
Laundry Features
  1. Community
Levels
  1. Two
Netoperatingincome
  1. 180456.00
Newtaxesexpense
  1. 43750.00
Otherexpense
  1. 12124.00
Parcel Number
  1. 4282022008
Parking Features
  1. Carport
  2. Covered
  3. Garage - Two Door
Sourcesystemkey
  1. 24-458595:CLAW
Tenant Pays
  1. Gas
  2. Electricity
Totalexpenses
  1. 100100.00
Uncovered Spaces
  1. 2.00
View
  1. Park/Greenbelt
Virtual Tour Url
  1. https://tour.caimagemaker.com/l/?id=181810IDX
Water Sewer Expense
  1. 7363.00
Year Built
  1. 1967
Zoning
  1. SMR3*