1 month on rocket

1115 14th St, Santa Monica, CA, 90403

$20,850,000

42 Bedrooms
41 Baths
34,281 SqFt
$608/SqFt
House

Location

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Property Highlights

Home TypeOther
ParkingDriveway Down Slope From Street
Year Built1972
HeatingNone
CoolingNone
MLS #24452667
Lot Size0.34 Acres
StatusActive

About 1115 14th St

This is a prime investment opportunityat 1115 14th St, a 23-unit apartment complex located in the prestigious Wilshire Montana neighborhoodof Santa Monica. This well-maintained property boasts a desirable unit mix consisting of one single ADU,five one-bedroom units, 14 two-bedroom units, two three-bedroom units, and a four-bedroom penthouse,complemented by 33 parking spaces, including EV charging stations and above-parking storage spaces.Ownership has invested over $3.3 million in capital improvements since 2019, including the full renovationof 14 units featuring luxury upgrades such as stacked washers and dryers, wide plank vinyl flooring, recessedlighting, modern cabinetry, quartz countertops, stainless steel appliances, HVAC, and smoothed ceilings.Additionally, significant enhancements to the common areas and building systems have been made, includingplumbing, solar installation, complete elevator upgrade, and roofing improvements.The standout feature of the property is the four-bedroom penthouse, which underwent a $500k renovation.This two-story unit features a private, key-locked elevator, a 360-degree rooftop deck, a gourmet kitchen,an open living room with balcony access, and luxury amenities such as a home office, laundry room, andsteam shower.With no deferred maintenance and strong existing cash flow, the property presents an additional 35%rental upside through continued unit turnovers and renovations. The offering includes favorable assumablefinancing with a $7.974 million principal balance, interest-only at a 2.90% rate, maturing in 2030.Located just blocks from premier retail amenities along Wilshire Blvd and close to the UCLA Santa MonicaMedical Center, 1115 14th St offers an ideal living environment for residents commuting to employment hubsacross Santa Monica, Brentwood, West LA, and beyond. The Santa Monica submarket continues to be highlyattractive for investors due to consistent rent growth and property value appreciation.This is a unique opportunity to acquire a high-performing asset in one of Southern California's most soughtafterneighborhoods.

Property Details

Property Features

Property Information:

  • Year Built: 1972
  • Stories: 0
  • Living Area: 34,281 SqFt

Listing Office:

  • Office Name: Marcus & Millichap
  • Office Phone: (310) 909-5500
  • Listing Agent: Neema Ahadian

Interior Features

Bedroom and Bathroom Information:

  • Total Bedroom Count: 42

Exterior Features

Parking Information:

  • Parking: Driveway Down Slope From Street

Lot Features

Lot Information:

  • Lot Size: 0.34 Acres

Utilities

Utilities Information:

  • Heating: None
  • Cooling: None

Other

Directions Information:

  • Directions: 1115 14th St is a 23-unit apartment complex located in the prestigious Wilshire Montana neighborhood of Santa Monica.

Price Information

Listing Price Info

Price Summary:

  • List Price: $20,850,000
  • Price Per SqFt: $608/SqFt

Tax Information:

  • Annual Amount: $143,016
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Santa Monica, CA.

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Santa Monica, CA

City

Med. Sold Price

$1.8M

Med. Price/SqFt

$1,106

Avg. Days On Market

41

# of Sold Homes

62

1115 14th St vs Santa Monica

37 DAYS ON ROCKET

-4 Days

$20,850,000

+$19.0M More

$608/SqFt

-$498 Less

KEY TAKEAWAY

This property is $19.0M more than the Median Sold Price and $498/SqFt less than other homes in Santa Monica, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24452667

Listing Office:

  • Office Name: Marcus & Millichap
  • Office Phone: (310) 909-5500
  • Listing Agent: Neema Ahadian

IDX Based on information from California Regional Multiple Listing Service, Inc. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 2:20:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jan 31, 2019Home Sold
$11,700,000
Feb 11, 1999Home Sold
$2,625,000

Tax History

YEARPROP. TAXASSESSMENT
2021$143,016$11,956,379
2020$47,465$11,832,000
2019$44,613$3,689,114
2018$44,384$3,616,780
2017$44,384$3,545,864

History based on county public records data.

Payment Calculator

$104.1K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$62.5K

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-319754
7
/10

  • Roosevelt Elementary School

  • 801 Montana Ave

  • 0.65 miles

  • Public District Grades KG-5

school-card-donut-319755
7
/10

  • McKinley Elementary School

  • 2401 Santa Monica Blvd

  • 0.78 miles

  • Public District Grades KG-5

school-card-donut-319756
9
/10

  • Franklin Elementary School

  • 2400 Montana Ave

  • 0.84 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $96,429. Typical income of Santa Monica, CA residents is between $35k-100k annually. Typical family type is single, no kids. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1115 14th St

What is the listing price of this property?

The listing price of 1115 14th St property is $20,850,000.

What type of property is this?

The property 1115 14th St is a house located in Santa Monica, California, 90403.

Is this property for sale now?

Active Listing: 1115 14th St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $143,016 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on January 31, 2019 for $11,700,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 1115 14th St has 42 bedrooms and 41 bathrooms.

What is the square footage of this property?

The property 1115 14th St is 34,281 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 1115 14th St is 1972.
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Rocket Homes›California›Los Angeles County›Santa Monica›90403›1115 14th St

This home is located at 1115 14th St in Santa Monica, CA and zip code 90403 in the Wilshire / Montana neighborhood. This 34,281 square foot home, which was built in 1972, sits on a 0.34 acre lot. Features: 42 bedrooms, 41 bathrooms. It has been listed on Rocket Homes since October 14, 2024 and is currently priced at $20,850,000.

Santa Monica, CA housing market in October 2024 saw over 22 listings sold above listed price, more than 7 sold at listed price and over 33 sold below. In October 2024 in Santa Monica, CA there were 14% more homes for sale than in September 2024. The median list price of listings available in October 2024 was $1,840,000, while the average time on the real estate market was 41 days.

From Rocket Homes Real Estate and based on county public records data.

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