1427 15th St Santa Monica, CA 90404-2721
Property profile & analytics
1427 15th St Santa Monica, CA 90404-2721
- Apartment buildings
- 8,623 SF
- 0.17 lot acres
Property ID
US09-6996726
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- 1427 15th st / Apartment Building
Property Details for 1427 15th St
- Year built
- 1968
- Construction
- WOOD
- Lot size
- 0.17 lot acres
- Property size
- 8,623 SF
- Zone code
- SMR3*
- Property type
- Apartment buildings
- APN
- 4282-020-019
- APU
- 4282020019
Description
This receivership sale presents a unique opportunity to acquire a 10-unit apartment building in the desirable Santa Monica, CA (90404) market. Located at 1427 15th Street, this two-story, 1968-built property boasts 8,623 square feet on a 7,495 square foot lot and is zoned SMR3. The building currently features a mix of occupied and vacant units. Eight units are deed-restricted to 30% AMI affordability, with rents capped at $832 for one-bedroom and $988 for two-bedroom units. However, two market-rate units (a 2-bed/2-bath and a 3-bed/2-bath) are vacant and ready for customization, offering significant upside potential. The 3-bed/2-bath unit is particularly attractive as a potential owner's unit, boasting amazing city views from its balcony. Eleven parking spaces are available, including tandem and two-car garages. There's potential for ADU conversion of the garages (buyer to verify with the city). The property includes an on-site laundry room. The current NOI is $119,199, with a pro-forma NOI of $123,471, resulting in a 6.27% cap rate and a pro-forma cap rate of 6.50%. The asking price is $1,900,000 ($190,000 per unit). Seven units are currently vacant (four rent-ready and three gutted). Note: The sale is subject to court confirmation, including a 60-day appeal period, and may be subject to overbid. The seller cannot guarantee a specific sale date. This property offers a compelling blend of immediate income and significant value-add potential in a prime Santa Monica location.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,020,000
- ML approach
- $2,065,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,315,000
- 6.5%
- $2,135,000
- 7%
- $1,980,000
-
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $2,805,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Santa Monica
- County
- Los Angeles
- State
- California
- Longitude
- -118.484
- Latitude
- 34.0245
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$56,382
$3,299,195
$1,414,749
$4,713,944
-
$0.00
$0.00
$0.00
