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1450 Franklin Street, Santa Monica, CA 90404$2,395,000

6
beds
--
bath
2370
ft2
· 7800
ft2 lot
$1,011 / ft2

Listing provided courtesy of Stacey Valnes, VALNES BELL REALTORS
Source CRMLS;
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Santa Monica triplexes are exempt from SM rent control if a cottage is owner occupied by the owner or a relative. Maintain control over the entire property. This beautiful triplex sits on a large 7,800 square foot lot, consists of three home-like cottages each with large yards plus 3 separate garages + 1 guest open parking spot. Cottage A enjoys an awesome deck and a spacious wrap-a-round yard. Cottage C enjoys a spa, seating area, grass yard and direct access from the garage. B enjoys a nice front and rear private patio. Cottage A and C have remodeled kitchens and living areas with high ceilings opening to their private yards. Both include a garage. One garage is vacant and has a market rent of $350 per month. The current actual gross annual income is $139,860. All three cottages are currently rented. Incredible opportunity as an owner user or straight investment property. Live in a home-like cottage w/a private yard + a garage and let the rents pay the mortgage and property tax. In 15 years the mortgage can be paid in full while the 3 cottages generate a tremendous cash flow. This triplex is a wealth creator. Close to the Broadway Arts District, major studios, Bergamont Station, shopping and cool restaurants. Live to the fullest by enjoying Santa Monica's great lifestyle by owning this amazing home like income property.

HOA

No HOA

On market

2 months

Year built

1944

Property type

Multi-Family

Parking

4

MLS

22221173

Price / Sq.Ft.

$1,011 / ft2

Status

Active Under Contract

Buyer’s Brokerage Commission

2.5%

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Home details for 1450 Franklin Street

Interior Features & Layout
Appliances
•   
Kitchen Appliances: Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer
Heating & Cooling
•   
Has Heating
•   
Heating Details: Wall Furnace
Flooring
•   
Flooring: Tile, Wood
Bathrooms Info
•   
Total Bathrooms: 3
Property, Lot, Community & Exterior Features
Multi-Unit Info
•   
Number Of Units Total: 3
Parking Info
•   
Garage Spaces: 3.0
•   
Garage: true
•   
Open Parking Spaces: 1.0
•   
Parking Spaces: 4.0
Community Info
•   
Number Of Buildings: 2
Lot Info
•   
Zoning Type: SMR2*
•   
Lot Size Area: 7800.0
•   
Acres: 0.1791
•   
Lot Size Units: Square Feet
Building Info
•   
Total Sq. Ft.: 2370.0
•   
MLS Property Type: Residential Income
•   
Number of Stories: 1
Listing Details, Costs & Financing Information
Financial Info
•   
Water Sewer Expense: 200.0
•   
Gross Income: 142860.0
•   
Insurance Expense: 1800.0
Lease Info
•   
Net Operating Income: 107823.0
Listing Details
•   
Status: Active Under Contract
•   
Originating System Name: CRMLS
Tax/Assessment Info
•   
APN: 4267016022
School Neighborhood & Directions
Location
•   
Zip Code: 90404
•   
Area: C14 - Santa Monica
•   
Zip Code +4: 2670
•   
Directions: Popular University Streets. Between Broadway and Santa Monica Blvd.
•   
Country: US

Property History for 1450 Franklin Street

11/27/2022
11/27/2022
CRMLS #22221173
active
CRMLS #22221173
$2,395,000

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