Homes for sale - 1115 14th St, Santa Monica, CA 90403

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Max Lee

[email protected] +1(213) 434-2433

$ 20,850,000

Est. payment | -/mo

42 Beds

41 Baths

34,281 SqFt

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$ 20,850,000

Est. payment | -/mo

Save

42 Beds

41 Baths

34,281 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 34,281 sqft

Price per Sqft $608

MLS Listing ID 24-452667

Bedrooms 42

Year Built 1972

Lot Size 0.345 Acres

Acres 0.345

Property Sub-Type Multi-Family

Property Description

This is a prime investment opportunityat 1115 14th St, a 23-unit apartment complex located in the prestigious Wilshire Montana neighborhoodof Santa Monica. This well-maintained property boasts a desirable unit mix consisting of one single ADU,five one-bedroom units, 14 two-bedroom units, two three-bedroom units, and a four-bedroom penthouse,complemented by 33 parking spaces, including EV charging stations and above-parking storage spaces.Ownership has invested over $3.3 million in capital improvements since 2019, including the full renovationof 14 units featuring luxury upgrades such as stacked washers and dryers, wide plank vinyl flooring, recessedlighting, modern cabinetry, quartz countertops, stainless steel appliances, HVAC, and smoothed ceilings.Additionally, significant enhancements to the common areas and building systems have been made, includingplumbing, solar installation, complete elevator upgrade, and roofing improvements.The standout feature of the property is the four-bedroom penthouse, which underwent a $500k renovation.This two-story unit features a private, key-locked elevator, a 360-degree rooftop deck, a gourmet kitchen,an open living room with balcony access, and luxury amenities such as a home office, laundry room, andsteam shower.With no deferred maintenance and strong existing cash flow, the property presents an additional 35%rental upside through continued unit turnovers and renovations. The offering includes favorable assumablefinancing with a $7.974 million principal balance, interest-only at a 2.90% rate, maturing in 2030.Located just blocks from premier retail amenities along Wilshire Blvd and close to the UCLA Santa MonicaMedical Center, 1115 14th St offers an ideal living environment for residents commuting to employment hubsacross Santa Monica, Brentwood, West LA, and beyond. The Santa Monica submarket continues to be highlyattractive for investors due to consistent rent growth and property value appreciation.This is a unique opportunity to acquire a high-performing asset in one of Southern California's most soughtafterneighborhoods.

Location

State CA

County Los Angeles

Area Santa Monica

Zoning SMR2*

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Parking Features Above Street Level

Building

Level or Stories Multi/Split

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(213) 434-2433

[email protected]

California, 91214-1304, USA

1115 14th St Santa Monica, CA 90403