23-Unit Apartment
For Sale
$19,250,000
1115 14th St, Santa Monica, CA 90403
Residential Income, Santa Monica, CA
Property Size34,281 SF
Lot Size0.35 Acres
Price / SF$561.54
Days on Market386
Property Features for 1115 14th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SMR2*
Bedrooms
44
Bathrooms
43
Full bathrooms
12
Rooms
Bathroom 13, Bathroom 39, Bathroom 25, Bathroom 40, Bedroom 10, Bedroom 22, Bathroom 41, Bathroom 19, Bathroom 18, Bedroom 29, Bathroom 30, Bathroom 33, Bedroom 40, Bedroom 2, Bedroom 9, Bedroom 19, Bathroom 2, Bathroom 14, Bedroom 17, Bedroom 33, Bathroom 27, Bathroom 38, Bedroom 37, Bedroom 20, Bedroom 7, Bedroom 42, Bedroom 4, Bathroom 5, Bathroom 34, Bedroom 8, Bathroom 6, Bathroom 9, Bedroom 36, Bathroom 7, Bedroom 35, Bedroom 28, Bathroom 8, Bedroom 44, Bedroom 21, Bathroom 42, Bathroom 23, Bedroom 31, Bathroom 15, Bathroom 20, Bathroom 31, Bathroom 36, Bathroom 12, Bedroom 34, Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 18, Bedroom 41, Bathroom 10, Bathroom 32, Bedroom 15, Bathroom 37, Bathroom 11, Bathroom 22, Bedroom 3, Bedroom 32, Bedroom 12, Bedroom 25, Bathroom 26, Bedroom 43, Bedroom 13, Bedroom 38, Bathroom 29, Bathroom 21, Bedroom 14, Bedroom 23, Bedroom 26, Bedroom 6, Bathroom 35, Bathroom 28, Bathroom 16, Bedroom 5, Bedroom 39, Bathroom 43, Bedroom 30, Bedroom 11, Bathroom 17, Bedroom 16, Bathroom 24, Bedroom 27, Bedroom 24, Bathroom 4
Parking
33
Parking features
Gated, Tandem, Assigned, Side By Side
Window features
Double Pane Windows
Fireplace
1
Directions
North of Wilshire! In between Wilshire Blvd. and California Avenue
Subdivision
Santa Monica
Standard status
Active
APN
4281-011-029
Size
34,281 SF
Lot size
0.35 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1972
Floors in Building
3
Number of units
23
Flooring type
Engineered, Laminate
Buildings
1
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Jonathan Taksa · License #01366169
(310) 968-5303
Added: Oct 7, 2025
Changed: Oct 24
Last Checked: Oct 27 at 3:06AM
MLS# 25602635
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 23-unit apartment property was built in 1972 and contains 34,281 square feet on a 0.345-acre site. The unit mix includes a studio ADU, five one-bedroom units, fourteen two-bedroom units, two three-bedroom units, and a four-bedroom penthouse. Fifteen apartments have updated finishes and in-unit laundry. The two-story penthouse features a private elevator, rooftop deck, fireplace, office, and renovated kitchen. Building improvements include plumbing and electrical upgrades, new windows, elevator modernization, roof work, solar installation, and refreshed common areas. Zoning is SMR2*.
Residents have access to 33 subterranean parking spaces, including EV charging stations. The property is located in Santa Monica, California, and offers assumable financing.
Residents have access to 33 subterranean parking spaces, including EV charging stations. The property is located in Santa Monica, California, and offers assumable financing.
Key Highlights
- 23 units, including a studio ADU and a two‑story four‑bedroom penthouse
- 34,281 square feet on a 0.345‑acre site
- 15 units modernized with updated finishes and in‑unit washers and dryers
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.
How Realmo checks its estimates
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A renovated multifamily property with a varied unit mix, 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 units, including a studio ADU and a two‑story four‑bedroom penthouse; 34,281 square feet on a 0.345‑acre site; 15 units modernized with updated finishes and in‑unit washers and dryers
