2505 14th Street

Santa Monica, CA 90405

$1,748,755
Price
3
Beds
3
Baths
1,807 Sq. Ft.
$968 / Sq. Ft.
1,807
Sq. Ft.
$968
per Sq. Ft.

Description

2505 14th Street presents a unique investment opportunity in the highly desirable Sunset Park neighborhood of Santa Monica, just 1 mile from the beach. This triplex, built in 1940, is composed of 2 separate structures consisting of (3) 1 Bed + 1 Bath units, totaling approximately 1,807 square feet on a 6,429 square foot lot Zoned SMR2. With a current cap rate of 4.0% and a market cap rate of 6.0%, this property is an attractive opportunity for investors seeking a location-driven asset with strong...2505 14th Street presents a unique investment opportunity in the highly desirable Sunset Park neighborhood of Santa Monica, just 1 mile from the beach. This triplex, built in 1940, is composed of 2 separate structures consisting of (3) 1 Bed + 1 Bath units, totaling approximately 1,807 square feet on a 6,429 square foot lot Zoned SMR2. With a current cap rate of 4.0% and a market cap rate of 6.0%, this property is an attractive opportunity for investors seeking a location-driven asset with strong upside potential. Perfect for an owner-user or investor, as two of the three units will be delivered vacant, allowing for immediate rental income at market rates. Each unit features a private yard, high wood beamed ceilings, with skylights. The detached Unit C is particularly well-suited for an owner-occupant looking to offset their mortgage with rental income from the other two units, and has a private deck. 2505 14th Street offers convenient parking and individual garages, a significant selling point in Santa Monica. There is also potential for future income growth through the conversion of the garages into ADU's (Buyer to Verify). Located in close proximity to a variety of retail stores, dining options, and outdoor activities, including 365 Whole Foods, Gelsons, the 3rd Street Promenade, and Lincoln Plaza, 2505 14th Street provides residents with a quintessential Santa Monica lifestyle
  1. Listed by David Weinberger • DRE #01349349 • Brokerage DRE #01458187 • Keller Williams Studio City
  2. Listed by David Rothblum • DRE #01332525 • Brokerage DRE #00590104 • RE/MAX One

Property Details for 2505 14th Street

Zoning
SMR2*
Style
California Bungalow
Parcel Number
4284026002
Total Units
3.0
Living Area
1807
Source Living Area
Vendor Enhanced
Area
Santa Monica (C14)
Vacancy Rate
2

Location

Listing Courtesy of Keller Williams Studio City, David Weinberger, DRE #01349349; RE/MAX One, David Rothblum, DRE #01332525
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LISTING UPDATED: 04/19/2024 12:01 AM

Property Details for 2505 14th Street

StatusActive
MLS #24-378759
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1940
Lot Size0.15 AC / 6,431 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Studio City, David Weinberger, DRE #01349349; RE/MAX One, David Rothblum, DRE #01332525
Add your commute

Virtual Tour

Building Information for 2505 14th Street

Stories2Residences-Year Built1940Building Size-Lot Size0.15 AC / 6,431 SF

Payment Calculator

$11,193 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,544

Property Taxes

$1,649

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2505 14th Street

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: 3
  • View: Yes
  • View Description: Ocean, Walk Street
  • View: Ocean
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $98,490
  • Net Operating Income: $69,097.00
  • Gross Income: $100,500
  • Cap Rate: 4.00%
  • Gross Rent Multiplier: $17.40
  • Vacancy Allow Percent: 2.00%
  • Total Annual Expense: 29393
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1476
  • Lot Size Square Feet: 6431
  • Lot Description: Walk Street, Fenced Yard, Sidewalks, Curbs
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Driveway, Garage - 3 Car, Private Garage, Private, On street
  • Total Parking: 3
  • Parking Features: Driveway, Garage - Three Door, Private, Street
Interior Features
Interior Features
  • Room Type: Living Room
  • Rooms: Living Room
  • Levels: Two
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window, Ceiling Fan
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Mixed, Hardwood, Tile, Vinyl, Wood Laminate
  • Equipment: Range/Oven
  • Interior Features: Built-Ins, Beamed Ceiling(s)
  • Room Kitchen Features: Tile Counters
  • Kitchen Features: Tile Counters
  • Room Bathroom Features: Tile Counters
  • Bathroom Features: Shower Over Tub, Tile
  • Bedroom Features: Main Floor Bedroom
  • Cooking Appliances: Oven, Gas
  • Laundry: None
Exterior Features
Exterior Features
  • Patio Features: Porch, Porch - Front, Deck(s), Balcony
  • New Construction: No
  • Other Structural Features: Two On A Lot
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-11-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,792.00
  • Unit Actual Rent: $8,375.00
  • Unit Projected Rent: $8,675.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $484,500.00
  • Assessed Improvement Percent: 29.87
  • Assessed Land Value: $1,137,300.00
  • Assessed Land Percent: 70.13
  • Assessed Total Value: $1,621,800.00

Property History for 2505 14th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2505 14th Street

Taxable ValueLand$1,137,300Additions$484,500Total$1,621,800
Tax Record2023$19,782 ($1,649 / month)
Home Facts
Total Finished SqFt1,807 SqFtAbove Grade Finished SqFt1,807 SqFtLot Size6,429 SqFtStyleTriplexYear Built1940ZoningSMR2*CountyLOS ANGELESAPN4284-026-002

Schools near 2505 14th Street

This home is within Santa Monica-Malibu Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Will Rogers Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

Santa Monica High School
Public9 to 12

Juan Cabrillo Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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2505 14th Street is a multi-family home for sale in Santa Monica, CA 90405. This property was listed for sale on April 11, 2024 by Keller Williams Studio City, it's currently listed at $1,748,755. It has been on the market for a total of 19 days and was last sold on June 7, 2017. This listing's school district is Santa Monica-Malibu Unified School District. Nearby schools include Will Rogers Elementary School, John Adams Middle School and Santa Monica High School. 2505 14th Street is a 3-bed, 3-bath, 1,807 sqft multi-family home built in 1940.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Studio City, David Weinberger, DRE #01349349; RE/MAX One, David Rothblum, DRE #01332525

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.