1427 15th Street Active Save Request In-Person Tour Request Virtual Tour
Santa Monica,CA 90404
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,623 sqft
Price per Sqft $220
MLS Listing ID CL24451475
HOA Y/N No
Year Built 1968
Lot Size 7,495 Sqft
Acres 0.17
Property Description
RECEIVERSHIP SALE! We are pleased to present 1427 15th Street, a 10 unit apartment building in Santa Monica. Eight of the 10 units are deed-restricted to 30% AMI affordability, limiting rent levels on those 8 units to $832 for 1 bedroom units and $988 for 2 bedroom units. However, unit 4 (2 bed 2 bath) and unit 10 (3 bed 2 bath) are NOT deed-restricted and can be leased out at MARKET rents. Both of the market rate units have been taken down to the studs and will be delivered vacant creating the perfect opportunity for a new owner to customize to their own specifications. The top floor 3 bed 2 bath "owner's unit" which offers incredible amazing city views from the balcony is PERFECT FOR AN OWNER/USER. The property includes a total of 11 parking spaces consisting of a tandem space, two 2-car garages, and seven single spaces. There is potential to convert the two-car garages into market-rate ADUs (Buyer to verify with the city). In total there are 7 vacant units (4 rent ready and 3 gutted units). Santa Monica is known for its excellent schools, community parks, and a vibrant beach-town atmosphere. The mid-city area's lively ambiance and convenient lifestyle make it highly desirable for renters and an enticing proposition for investors looking to capitalize on the city's robust renta
Location
State CA
County Los Angeles
Area Listing
Zoning SMR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Dryer
Laundry Dryer,Washer
Building
New Construction No
Others
Tax ID 4282020019