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1434 15th St
Santa Monica, CA 90404 Pico

$2,600,000 USD

Apartments For Sale  •  6,812 SF

Property Details

  • Property Type Apartments
  • Total Building Size 6,812 SF
  • Lot Size 0.17 AC
  • Building Class C
  • Year Built 1957
  • Zoning SMR3*
70 Transit Score
70 Walk Score

Highlights

Built in 1957, the property is comprised entirely of ten 1-bedroom/1-bathroom units at approximately 650 square feet each.
Several units have been extensively renovated with granite countertops, brand new appliances, new flooring, and fresh paint.
Current rents average $2,007 per unit against achievable market rents of $2,500 per unit, representing approximately 25% rental upside.
The property is fully parked, offering six spaces in the rear plus additional spaces at the front of the building.
Private garages fronting the street, currently used for storage, present potential ADU conversion upside (buyer to verify with City of Santa Monica).
New electrical sub panels have been installed in select units, further reducing near-term capital exposure for the next owner.

Amenities

  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Public Transportation

Transit/SubwayDriveWalkDistance
17 St/ SMC (Expo Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 6 min 0.3 mi
Downtown Santa Monica (Expo Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 3 min 18 min 0.9 mi
AirportDriveWalkDistance
Los Angeles International 16 min - 9.1 mi
Bob Hope 35 min - 21.1 mi
Long Beach (Daugherty Field) 38 min - 28.6 mi
Neema Ahadian 310-909-5444 Marcus & Millichap
Neema Ahadian 310-909-5444 Marcus & Millichap