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$ 3,295,000
Est. payment | /mo
3 Beds
1,536 SqFt
$ 3,295,000
Est. payment | /mo
3 Beds
1,536 SqFt
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 1,536 sqft
Price per Sqft $2,145
MLS Listing ID CL26841783
Bedrooms 3
HOA Y/N No
Year Built 1925
Lot Size 7,502 Sqft
Acres 0.17
Property Sub-Type OTHER
Property Description
A rare chance to acquire a fully entitled, ready-to-issue development site in the heart of Santa Monica, no entitlement risk, no waiting on the city, just permits and a shovel. Situated on a 7,500 square foot lot at 1434 14th Street, this RTI package delivers approved plans for a 3-story, 9-unit apartment building plus one ADU, over a full level of subterranean parking. The unit mix includes 1 three-bedroom, 3 two-bedrooms, 3 one-bedrooms, and 2 affordable two-bedroom units, a well-balanced program designed to maximize density while satisfying Santa Monica's Tier 2 Community Benefits requirements. Total building area comes in at approximately 11,444 square feet across three floors, with 10 parking spaces in the subterranean garage. The project was permitted under SMR3 zoning with a 35% density bonus, pushing the allowable unit count from 6 base units to 9. The existing improvements, a 1925 California Bungalow duplex, have been vacated and are sold as-is. The value is in the land and the entitlements. The location delivers everything Santa Monica multifamily tenants demand: walkable to several shops and restaurants, the Expo Line, Third Street Promenade, and the beach. High walk and bike scores virtually eliminate car dependency, which is exactly what the next generation of renters is underwriting. Opportunities to purchase a shovel-ready 9-unit site in Santa Monica at this price point don't come around often. Priced to reflect the land and approved entitlements.
Location
State CA
County Los Angeles
Zoning SMR3*
Interior
Heating Wall Furnace, Central
Cooling Wall/Window Unit(s)
Flooring Wood
Fireplace No
Laundry Dryer, Washer
Exterior
Exterior Feature Back Yard
View Y/N false
View None
Building
Lot Description Other, Back Yard
New Construction No
Others
Tax ID 4282022027
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Listed by Steve Sawai • Compass
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