1434 14th Street,Santa Monica, CA 90404
Santa Monica, CA 90404
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 10,811 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.
Details
| MLS # | 26841783 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1925 |
| Days On Site | 81 |
| Listing Provided By | Compass | Steve Sawai |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 |
| SQ Feet | 1,536 |
| Story(s) | 1 |
| Units | 2 |
| Building(s) | 2 |
| Zoning | SMR3* |
| Acreage | 0.17 |
| Property View | None |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Central, Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Dishwasher, Microwave, Refrigerator, Dryer, Washer |
Exterior
| Construction Materials | Stucco |
|---|---|
| Lot Features | Back Yard, Lawn, Value In Land, Yard |
Parking
| Parking Features | Uncovered |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90404 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90404) | |
Price: $3,295,000 low | high Med: $2,350,000 sqft: 1,536 low | high Med: 3,878 $ / sqft: $2,145 low | high Med: $606 On site: 81 low | high Med: 4 | |
Market Activity 90404
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Santa Monica |
| Zip Code | 90404 |
| Area | C14 Santa Monica |
| Listing VS Median (in 90404) | |
Price: $3,295,000 low | high Med: $2,350,000 sqft: 1,536 low | high Med: 3,878 $ / sqft: $2,145 low | high Med: $606 On site: 81 low | high Med: 4 | |