This listing was posted on ListedBuy.
$3,050,000
1427 15TH ST, Santa Monica, CA 90404 Multi Family For Sale MLS# 23-278309
Price:
$3,050,000
BR/BA:
10+ BR, 10+ BA
Location:
1427 15TH ST, Santa Monica, CA
Description:
Presenting 1427 15th Street, a prime multifamily investment in Santa Monica's vibrant mid-city area. This property offers 10 units, featuring a mix of one 3-bed 2-bath, two 2-bed 2-bath, four 2-bed 1-bath, and three 1-bed 1-bath residences, catering to a wide range of tenant preferences. Located in the heart of mid-city Santa Monica, just blocks to Downtown Santa Monica, this property enjoys a central position, providing easy access to a wealth of amenities, including shopping, dining, and entertainment options. Delivered with six vacant units, including three already renovated and three ready for transformation, this property presents an immediate value-add opportunity. The 10 parking spaces, consisting of one tandem, two single garages, and seven single spaces, ensure convenient parking options for residents. With a 30% AMI deed-restricted affordability status applying to 80% the existing units, this property offers a unique advantage, ensuring a competitive entry price point while also giving investors the opportunity for substantial cash flow upside, particularly in tandem with the Section 8 program. Additionally, the potential to incorporate multiple Accessory Dwelling Units (ADUs), which may not bound by the deed restriction, provides an immediate opportunity for significant equity appreciation. Unit 4 (2 bed 2 bath) and unit 10 (3 bed 2 bath) are not deed-restricted and can be leased out at market sales. Santa Monica is known for its excellent schools, community parks, and a vibrant beach-town atmosphere. Benefitting also from its proximity to major employment centers, such as the thriving tech, entertainment, and creative sectors, this property attracts a diverse pool of potential tenants. The mid-city area's lively ambiance and convenient lifestyle make it highly desirable for saleers and an enticing proposition for investors looking to capitalize on the city's robust saleal market. Still available at ListedBuy!
Property Type:
Single-Family Houses
Sq feet:
8,623 sq. ft.
Amenities:
Parking, Pool
For sale by:
By Owner
Posted:
August 7 2023 on ListedBuy
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More About this Listing: 1427 15TH ST, Santa Monica, CA 90404 Multi Family For Sale MLS# 23-278309
1427 15TH ST, Santa Monica, CA 90404 Multi Family For Sale MLS# 23-278309 is a 10+ BR 10 Bathroom, 10+ BA, 13 Bathroom Single-Family Homes for Sale at 1427 15th St in Santa Monica CA. Find other listings like 1427 15TH ST, Santa Monica, CA 90404 Multi Family For Sale MLS# 23-278309 and listings near 1427 15th St by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 13 Bathroom Single-Family Homes for Sale in Santa Monica CA.
1427 15TH ST, Santa Monica, CA 90404 Multi Family For Sale MLS# 23-278309 is a 10+ BR 10 Bathroom, 10+ BA, 13 Bathroom Single-Family Homes for Sale at 1427 15th St in Santa Monica CA. Find other listings like 1427 15TH ST, Santa Monica, CA 90404 Multi Family For Sale MLS# 23-278309 and listings near 1427 15th St by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 13 Bathroom Single-Family Homes for Sale in Santa Monica CA.