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1434 15th Street

Santa Monica, CA 90404
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Bed 10

Bed

Bath 10

Bath

SqFt6,812

Sqft

SqFt7,495

Sqft(Lot)

We are pleased to present 1434 15th Street, a 10-unit multifamily asset in Santa Monica's Mid-City neighborhood, one of the Westside's strongest and most consistent rentalmarkets.Built in 1957, the property is comprised entirely of ten 1-bedroom/1-bathroom units at approximately 650 square feet each, a clean, homogenous unit mix that simplifies underwriting,leasing, and ongoing management for the incoming owner. Several units have been extensively renovated with granite countertops, brand new appliances, new flooring, and freshpaint, including two units that are currently vacant and delivered at close of escrow, giving an incoming owner immediate, turnkey units to lease at market rents from day one. Current rents average $2,007 per unit against achievable market rents of $2,500 per unit, r epresenting approximately 25% rental upside as the remaining below-market tenancies turn over, a compelling value-add story reflected in a current cap rate of 5.80% growing to a 7.85% pro forma cap rate. The building's exterior facade has just been freshly repainted, enhancing curb appeal and signaling pride of ownership while reducing near-term deferred maintenance exposure for the next owner. The property is fully parked, offering six spaces in the rear plus additional spaces at the front of the building, along with private garages fronting the street that are currently used for storage and present potential ADU conversion upside (buyer to verify with the City of Santa Monica). On-site laundry machines provide ownership with an ancillary income stream, and new electrical sub panels have been installed in select units, further reducing near-term capital exposure for the next owner. Mid-City is the second most walkable neighborhood in Santa Monica, carrying a Walk Score of 92, and sits a short distance from the Metro E Line at 17th St/SMC, Santa Monica College, and the retail and dining corridor along Wilshire Blvd, with the beach just over a mile away. This combination of transit access, daily amenities, and coastal proximity drives persistent tenant demand and low vacancy throughout the submarket.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,600,000

AD Id : 91316488

MLS Id : 26989859

Beds : 10

Lot Size : 7,495 Sq. Ft

Living Area Size : 6,812 Sq. Ft

Year Built : 1957

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 10

    Bathroom Information

    Total Baths: 10
  • Heating & Cooling

    Heating: None Cooling: None

  • Building Information

    Year Built: 1957
    Building Area Total: 6812
    Stories: 2
    Private Pool: No

  • Lot Information

    Lot Dimensions: 50x150 Main Square Feet: 7495 Lot Size Acres: 0.1721 Lot Size Square Feet: 7,495

  • Listing Price Information

    Listing Price: $2600000

  • Tax Information

    Parcel Number: 4282021007

  • Location Information

    Direction: 15th Street between Colorado and Santa Monica Blvd
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
3117 Virginia Avenue, Santa Monica, CA, 90404 $1,550,000 5 5 1,787 6,485 Sq. Ft
3037 Delaware Avenue, Santa Monica, CA, 90404 $1,929,000 3 2 1,276 6,499 Sq. Ft
2903 Delaware Avenue, Santa Monica, CA, 90404 $1,995,000 3 3 2,087 6,529 Sq. Ft
1630 Franklin Street, Santa Monica, CA, 90404 $1,995,000 5 3 1,892 5,235 Sq. Ft
1626 Franklin Street, Santa Monica, CA, 90404 $2,570,000 3 3 1,576 5,389 Sq. Ft
2817 Virginia Avenue, Santa Monica, CA, 90404 $2,099,000 4 4 2,132 6,503 Sq. Ft
1453 Centinela Avenue, Santa Monica, CA, 90404 $1,995,000 6 4 2,723 7,568 Sq. Ft
1523 Berkeley Street, Santa Monica, CA, 90404 $1,725,000 6 5 3,766 8,139 Sq. Ft
1507 Berkeley Street, Santa Monica, CA, 90404 $2,400,000 15 13 7,740 8,141 Sq. Ft
1430 Franklin Street #A, Santa Monica, CA, 90404 $2,300,000 8 5 3,486 7,805 Sq. Ft

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/30/2026 @ 22:50

MLS: 26989859 LISTED BY: Neema Ahadian, Marcus & Millichap 310-909-5500 SOURCE: CRMLS

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