1115 14th St

LocationArbor Realty Capital Advisors, Inc., proudly present a prime investment opportunity at 1115 14th St, a 23-unit apartment complex located in the prestigious Wilshire Montana neighborhood of Santa Monica. This well-maintained property boasts a desirable unit mix consisting of one single ADU, five one-bedroom units, 14 two-bedroom units, two three-bedroom units, and a four-bedroom penthouse, complemented by 33 parking spaces, including EV charging stations and above-parking storage spaces. Ownership has invested over $3.3 million in capital improvements since 2019, including the full renovation of 14 units featuring luxury upgrades such as stacked washers and dryers, wide plank vinyl flooring, recessed lighting, modern cabinetry, quartz countertops, stainless steel appliances, ductless HVAC, and smoothed ceilings. Additionally, significant enhancements to the common areas and building systems have been made, including plumbing, solar installation, upgraded elevator cab, and roofing improvements. The standout feature of the property is the four-bedroom penthouse, which underwent a $500k renovation. This two-story unit features a private, key-locked elevator, a 360-degree rooftop deck, a gourmet kitchen, an open living room with balcony access, and luxury amenities such as a home office, laundry room, and steam shower. With no deferred maintenance and strong existing cash flow, the property presents an additional 35% rental upside through continued unit turnovers and renovations. The offering includes favorable assumable financing with a $7.974 million principal balance, interest-only at a 2.90% rate, maturing in 2030. Located just blocks from premier retail amenities along Wilshire Blvd and close to the UCLA Santa Monica Medical Center, 1115 14th St offers an ideal living environment for residents commuting to employment hubs across Santa Monica, Brentwood, West LA, and beyond. The Santa Monica submarket continues to be highly attractive for investors due to consistent rent growth and property value appreciation. This is a unique opportunity to acquire a high-performing asset in one of Southern California’s most sought after neighborhoods.