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1427 15th Street
Santa Monica, CA 90404
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 INFORMATION
| MLS # | 24451475 | Lot Size | 7,495 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,900,000
Price Per SqFt: $ 220 |
DOM | 283 Days |
| Address | 1427 15th Street | Type | Residential Income |
| City | Santa Monica | Sq.Ft. | 8,623 Sq. Ft. |
| Postal Code | 90404 | Garage | N/A |
| County | Los Angeles | Year Built | 1968 |
| Bed / Bath | 18 / 0 | Parking | 11 |
| Built In | 1968 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Washer Included, Dryer Included |
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | No |
| Cooling Information | None |
EXTERIOR FEATURES
WALKSCORE
Walk Score: 86 (Very Walkable)
Transit Score: 72 (Excellent Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,027
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/10/2024 | Listed | $1,900,000 |
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Listing provided courtesy of Benjamin J. Hsiang, Realty Investment Advisors, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
