2505 14th Street, Santa Monica, CA 90405 (MLS # 24378759)
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
Property Type(s):
Residential Income
|
Last Updated
|
4/30/2024
|
Year Built
|
1940
|
|
Community
|
Santa Monica
|
County
|
Los Angeles
|
Additional Details
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Oven |
| AREA |
Santa Monica |
| BUYER'S BROKERAGE COMPENSATION |
2.500 % |
| GARAGE |
Door-Multi, Driveway, Garage, On Street, Private, Yes |
| HEAT |
Wall Furnace |
| INTERIOR |
Beamed Ceilings |
| LOT |
6431 sq ft |
| PARKING |
Door-Multi,Driveway,Garage,Private,On Street |
| STORIES |
2 |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Ocean |
| ZONING |
SMR2* |
Location
Listed with Keller Williams Studio City
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/1/24 4:08 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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