1424 14 St

20 Units on 14th Street. Below-Market Rents.

Twenty units on 14th Street in Santa Monica. Most of the rents were well below market because the previous owner hadn't touched the place in years. That's the opportunity: buy at $417K per door, renovate units as they turn, and push rents to where the street actually trades. The buyer we found understood exactly what this was, moved fast, and started renovations within 60 days of closing.

Transaction Highlights

• 20 units with rents significantly below market
• $417,500 per door. Buyer started renovations within 60 days.
• 14th Street is one of Santa Monica's busiest multifamily corridors
• Classic value-add: buy below market, renovate, reposition