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    1514 Franklin St

    Santa Monica, CA 90404
    • $4,695,000
    • STATUS: Active
    • ON SITE: 65 days
    • ID#: 21-716752
    UPDATED: 20 min ago
    $4,695,000
    • 15
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,384
      SQFT
    • $636
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:
    Area:

    Description

    1514 Franklin Street is a 7 unit property located in the highly desirable city of Santa Monica. The property consists of six 2+2s and one townhouse style 3+3. 5 of the 7 units have been completely renovated and feature new stainless steel appliances. The building has a brand new roof, partial copper plumbing, and is individually metered for gas and electricity. The Owner will collect additional income with on-site laundry and private garages. Featuring a stellar 94 walk score and 85 bike score, 1514 Franklin Street provides residents with many of the great things LA has to offer right outside their front door. The property is a 10 minute walk from major employment (Lionsgate, Amazon, Red Bull), a 15 minute walk to the Bergamot Train Station with service to the beach and Downtown LA, and a short bike or car ride from most daily errands. The property is nestled on a peaceful tree-lined street, with easy access to award winning Santa Monica schools and restaurants. The Brentwood, Westwood, and Century City neighborhoods are also nearby. This is an excellent opportunity to acquire an investment property with steady and reliable cash flow with additional future upside.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-14T19:43:01.787. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.trulinerealty.com/homes/115979171
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    1514 Franklin St Santa Monica, CA 90404

    • Price: $4,695,000
    • Status: Active
    • Updated: 20 min ago
    • ID#: 21-716752
    15
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    7,384
    SQFT
    $636
    $/SQFT
    1965
    Built
    Neighborhood:
    Santa Monica
    County:
    Los Angeles
    Area:
    Santa Monica
    School District:
    Santa Monica-Malibu Unified School District
    Property Description
    1514 Franklin Street is a 7 unit property located in the highly desirable city of Santa Monica. The property consists of six 2+2s and one townhouse style 3+3. 5 of the 7 units have been completely renovated and feature new stainless steel appliances. The building has a brand new roof, partial copper plumbing, and is individually metered for gas and electricity. The Owner will collect additional income with on-site laundry and private garages. Featuring a stellar 94 walk score and 85 bike score, 1514 Franklin Street provides residents with many of the great things LA has to offer right outside their front door. The property is a 10 minute walk from major employment (Lionsgate, Amazon, Red Bull), a 15 minute walk to the Bergamot Train Station with service to the beach and Downtown LA, and a short bike or car ride from most daily errands. The property is nestled on a peaceful tree-lined street, with easy access to award winning Santa Monica schools and restaurants. The Brentwood, Westwood, and Century City neighborhoods are also nearby. This is an excellent opportunity to acquire an investment property with steady and reliable cash flow with additional future upside.
    Exterior Features

    Carport Spaces Total 5 Covered Parking 9 Direction Faces East Exterior Construction FrameStuccoWood Siding Lot Description Alley PavedExterior Security LightsFencedFront YardLot-Level/FlatLandscapedSidewalksSingle Lot Lot Location Near Public TransitCity Lot Size Area 8130 Other Structures None Parking Garage Carport AttachedGarage Paved YN Yes Roof Composition Total Parking 11 View Description Tree TopCityCourtyard View YN Yes Water Frontage None

    Interior Features

    Baths Total 15.00 Cooling Ceiling Fan Equipment Range/OvenBuilt-InsCeiling FanDishwasherRefrigeratorGarbage DisposalVented Exhaust FanMicrowaveHood Fan Flooring LaminateTile Heating Wall Gas Laundry CommunityIn Unit Laundry Equipment Own Water Heater Features Gas

    Property Features

    Alley YN Yes Assessed Total Value 3704146 Gross Income 235260 Gross Operating Income 235402 Like Units1 6 Like Units2 1 Net Operating Income 163177.00 Number Of Buildings 1 Number Of Units 7 Owner Pays WaterGardener Property Condition Updated/RemodeledRepairs MajorRepair Cosmetic Rent Control YN Yes Sale Type Standard Security Features Carbon Monoxide Detector(S)Exterior Security LightsGatedSmoke Detector Sewer In Street Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays ElectricityGas Total Annual Expense 72225 Type Of Units Apartments Water In Street Year Built Source Assessor Zoning Smr2*

    Listing provided courtesy of Jordan Peikin DRE#02015987 of Clement Partners Real Estate.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-14T19:43:01.787. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    TruLine Realty
    2999 Overland Ave., Suite 116
    Los Angeles CA, 90064