1444 15th Street

    Santa Monica, CA 90404
    • $3,259,000
    • STATUS: Active
    • ON SITE: 422 days
    • ID#: PV17182698
    UPDATED: 34 min ago
    $3,259,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,207
      SQFT
    • $397
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    A rare and incredible investment opportunity! Ability to purchase 7 units, conforming complex located in prestigious Santa Monica 3rd Street Promenade neighborhood close to restaurants, shops, Metro Line and Santa Monica Pier. The building square foot is 8,207, and it was built in 1962, It features (2) 3 Beds/2 Baths and (5) 2 Beds/1.5 Baths. Two of the front units have fireplaces. One unit is completely remodeled with new cabinets, remodeled bathrooms, kitchen granite countertops and wood flooring throughout. Two units are half remodeled with new wood flooring and kitchen granite countertops. Total parking is 7, and it is a mix of carport and garages. 2 front car garages. One garage is rented separately to outside person for storage, and the other garage is rented to a tenant. There are two driveway parking spaces located in the front of the building. Behind the building is carport with a total of 5 spaces. Onsite community laundry facility for the tenant's convenience. These units are spacious with open floor plans, and there is a wonderful unique charm each unit represents.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-15T14:29:49.507. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/76056972

    1444 15th Street Santa Monica, CA 90404

    • Price: $3,259,000
    • Status: Active
    • Updated: 34 min ago
    • ID#: PV17182698
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    8,207
    SQFT
    $397
    $/SQFT
    1962
    Built
    Neighborhood:
    C14 - Santa Monica
    County:
    Los Angeles
    Area:
    C14 - Santa Monica
    Property Description
    A rare and incredible investment opportunity! Ability to purchase 7 units, conforming complex located in prestigious Santa Monica 3rd Street Promenade neighborhood close to restaurants, shops, Metro Line and Santa Monica Pier. The building square foot is 8,207, and it was built in 1962, It features (2) 3 Beds/2 Baths and (5) 2 Beds/1.5 Baths. Two of the front units have fireplaces. One unit is completely remodeled with new cabinets, remodeled bathrooms, kitchen granite countertops and wood flooring throughout. Two units are half remodeled with new wood flooring and kitchen granite countertops. Total parking is 7, and it is a mix of carport and garages. 2 front car garages. One garage is rented separately to outside person for storage, and the other garage is rented to a tenant. There are two driveway parking spaces located in the front of the building. Behind the building is carport with a total of 5 spaces. Onsite community laundry facility for the tenant's convenience. These units are spacious with open floor plans, and there is a wonderful unique charm each unit represents.
    Exterior Features

    Architectural Style See Remarks Carport Spaces 5.00 Construction Materials Unknown Direction Faces East Fence YN No Fencing None Foundation Details Slab Garage Spaces 3.00 Lot Features Front YardLandscapedLot 6500-9999 Lot Size Source Assessor Lot Size Units Square Feet Parking Features Carport AttachedDrivewayDriveway - ConcreteGarageGarage - Front EntryGarage - Rear EntryGarage - Two DoorUncovered Parking Total 10.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type AlleyCity Street Road Surface Type Paved Roof FlatOther Spa Features None Spa YN No View None View YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling None Cooling YN No Door Features Mirrored Closet Doors Fireplace Features Living Room Fireplace YN Yes Flooring CarpetLaminateWood Heating Wall Heater Heating YN Yes Interior Features BalconyGranite CountersLiving Room BalconyTile Counters Laundry Features AreaCommunityIndividual Room Levels Two Room Type Master BathroomMaster Bedroom Window Features BlindsScreensSkylights

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.24 Community Features Sidewalks Country Ca Electric Expense 640.89 Elevation Units Feet Fuel Expense 2212.00 Garage Income 4800.00 Garage Rental Rate 200.00 Gardener Expense 1070.00 Gross Income 6349.00 Gross Multiplier 18.36 Gross Operating Income 172191.00 Gross Scheduled Income 177517.00 Gross Spendable Income 138199.00 Improvements Amount 421553 Insurance Expense 3746.00 Land Lease YN No Land Value 1672164 Laundry Income 349.00 Laundry YN Yes Licenses Expense 1508.00 Maintenance Expense 3899.00 Net Operating Income 138199.00 New Taxes Expense 8054.00 Number Of Separate Electric Meters 7 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Operating Expense 33992.00 Operating Expense Percent 19.00 Other Income1 1200.00 Pest Control Expense 413.00 Professional Management Expense 8358.00 Property Condition Updated/Remodeled Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Smoke Detector Senior Community YN No Sewer Public SewerSewer Paid Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Actual Rent 14264.00 Total Expenses 33992.00 Trash Expense 0.00 Utilities Cable AvailableElectricity AvailableNatural Gas AvailablePhone ConnectedSewer ConnectedWater Connected Vacancy Allowance 5326 Vacancy Allowance Rate 3.00 Water Sewer Expense 4091.00 Water Source Public Year Built Source Assessor Zoning Smr3*

    Listing provided courtesy of Lisa Oliveras of Re/Max Estate Properties and Ramsey Oliveras of .


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-15T14:29:49.507. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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