Ignite FB Tracking Pixel1427 15th Street, Santa Monica, CA 90404 - Nicole Grey
Pinnacle Estate Properties, Inc.
Nicole Grey, Pinnacle Estate Properties, Inc.Phone: (818) 469-5007
Email: [email protected]
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listing
1 of 13
Residential IncomeFor Sale
$2,450,000
1427 15th Street
Santa Monica, CA 90404
Listed by Benjamin J. Hsiang DRE#01438644 [email protected] Realty Investment Advisors, Inc.
MLS: California Regional MLS (CRMLS)
18Beds
13Baths
8,623Sq Ft
Est. Mortgage
$12,746/mo

PRICE REDUCED FOR FAST 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 six vacant units (3 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.

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Information courtesy of Realty Investment Advisors, Inc. is subject to verification and is not guaranteed.
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