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 rental market. NOTE: Property sale is subject to court confirmation including a 60-day appeal period and may be subject to overbid. As such, Seller cannot guarantee a particular sale date.
Property Details
Price:
$1,900,000
MLS #:
24451475
Status:
Active
Baths:
0
Address:
1427 15th Street
Type:
Residential Income
Neighborhood:
c14santamonica
City:
Santa Monica
Listed Date:
Oct 10, 2024
State:
CA
ZIP:
90404
Lot Size:
7,495 sqft / 0.17 acres (approx)
Year Built:
1968
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Schools
Interior
Appliances
Refrigerator
Cooling
None
Heating
Wall Furnace
Exterior
Parking Features
Covered
Parking Spots
11.00
Stories Total
2
Financial
Map
Community
- Address1427 15th Street Santa Monica CA
- AreaC14 – Santa Monica
- CitySanta Monica
- CountyLos Angeles
- Zip Code90404
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Courtesy of Realty Investment Advisors, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1427 15th Street
Santa Monica, CA
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