23-Unit Apartment
For Sale
$19,250,000
1115 14th St, Santa Monica, CA 90403
Santa Monica multifamily property with modernized residences, a rooftop penthouse, subterranean parking, and building-wide system upgrades.
Property Size34,281 SF
Price / SF$561.54
Days on Market54
Property Features for 1115 14th St
General Information
Standard status
Active
Size
34,281 SF
Total Parking Spaces
33
Elevators
Yes
Property subtype
Multi-Family
Site & Location
Neighborhood
Wilshire
Units
Unit Mix
1 x studio ADU, 5 x 1BR/1BA, 14 x 2BR/2BA, 2 x 3BR/2BA, 1 x 4BR penthouse
Multifamily Units
23
Building Details
Year Built
1972
Buildings
1
Listed By:
Think Real Estate
(213) 712-4343
Source:
Thinkrealestategroup
Added: Sep 7
Changed: Oct 26
Last Checked: Oct 28 at 8:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Think Real Estate
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Investment Insights
Based on property information with market context.
Built in 1972, this 23-unit apartment property in Santa Monica’s North of Wilshire area includes a studio ADU, five one-bedroom units, fourteen two-bedroom units, two three-bedroom units, and a two-story four-bedroom penthouse. Fifteen residences have been updated with vinyl flooring, quartz countertops, contemporary cabinetry, stainless steel appliances, stacked in-unit laundry, recessed lighting, smooth ceilings, and central HVAC.
The penthouse features a private key-locked elevator, rooftop deck, Thermador kitchen, fireplace, wet bar, home office, laundry room, storage, surround sound, and a primary suite with a steam shower and freestanding tub. Property-wide work includes plumbing and electrical upgrades, new windows, elevator modernization, roof improvements, solar installation, and renovated common corridors and lobby. The building also provides 33 subterranean parking spaces and EV charging stations.
The penthouse features a private key-locked elevator, rooftop deck, Thermador kitchen, fireplace, wet bar, home office, laundry room, storage, surround sound, and a primary suite with a steam shower and freestanding tub. Property-wide work includes plumbing and electrical upgrades, new windows, elevator modernization, roof improvements, solar installation, and renovated common corridors and lobby. The building also provides 33 subterranean parking spaces and EV charging stations.
Key Highlights
- 23‑unit apartment building constructed in 1972
- Unit mix includes 1 studio ADU, 5 one‑bedroom, 14 two‑bedroom, 2 three‑bedroom, and 1 four‑bedroom penthouse
- 15 units feature updated finishes, appliances, in‑unit laundry, and central HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$551,609
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,032,180
$11.0M
Cap Rate 7%
$7,880,129
$7.9M
Cap Rate 9%
$6,128,989
$6.1M
Market Conditions
NOI Build-Up for 34,281 SF
Gross rent
$1.09M $31.80/SF
− Vacancy
−$87.2K −$2.54/SF
EGI
$1.00M $29.26/SF
− OpEx
−$451.3K −$13.17/SF
NOI
$551.6K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,032,180
Cap Rate 7%
$7,880,129
Cap Rate 9%
$6,128,989
Alternative Uses
Best Use
Apartment 5plus
$7.88M
$6.90M – $9.19M
NOI $551,609 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.35M
$16.06M – $21.41M
NOI $1,284,774 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Open Analytics
Lease Details
23
Residential units
Location Intelligence
Trade Area within ½ mile
8,924
Businesses Nearby
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Business Placement
Demographics for 90403, CA
25,278
Population
14,853
Households
1.7
Avg Household Size
42
Median Age
72%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
18,056
Density / Sq Mi
$121,512
Median Household Income
$82,557
Median Earnings
$2,443
Median Rent
$1,553,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Santa Monica multifamily property with modernized residences, a rooftop penthouse, subterranean parking, and building-wide system upgrades.
Where is this apartment building located?
The property is located at 1115 14th St Santa Monica, CA.
What is the asking price?
The asking price for this property is $19,250,000.
What are key features of this property?
This property features: 23‑unit apartment building constructed in 1972; Unit mix includes 1 studio ADU, 5 one‑bedroom, 14 two‑bedroom, 2 three‑bedroom, and 1 four‑bedroom penthouse; 15 units feature updated finishes, appliances, in‑unit laundry, and central HVAC
