A+ Location: Excellent Interest Only Assumable Financing
Multifamily | 23 Units | Incredible Assumable Financing
Marketing description
NEW PRICING AND INCREDIBLE ASSUMABLE FINANCING. Jonathan Taksa of The Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present 1115 14th Street, a premier 23-unit apartment building located in Santa Monica’s coveted “North of Wilshire” neighborhood. Built in 1972, this exceptionally rare property stands out in a submarket where most multifamily assets consist of fewer than 10 units. Since 2019, ownership has invested over $3,300,000 in high-end capital improvements, transforming the building into one of the most meticulously renovated and desirable offerings in Santa Monica.
The unit mix is outstanding: one studio ADU, five one-bedroom/one-bath units, fourteen two bedroom/two-bath units, two three-bedroom/two-bath units, and a spectacular two-story four bedroom penthouse. Fifteen of the units have been fully modernized with wide-plank vinyl flooring, quartz countertops, recessed lighting, modern cabinetry, stainless steel appliances, stacked in-unit washers and dryers, smooth ceilings, and central HVAC.
The property’s crown jewel is the penthouse, which received $500,000 in renovations. This ultra luxurious residence includes a private key-locked elevator, 360-degree rooftop deck, a gourmet Thermador kitchen with expansive island, open living room with fireplace and wet bar, home office, laundry room with high-end washer/dryer, two powder rooms, surround sound, ample storage, and a primary suite featuring a steam shower and freestanding tub. This unit is unmatched in the Santa Monica rental market.
Beyond the units, significant building-wide upgrades have been completed, including upgraded plumbing and electrical, new windows, complete elevator modernization with all new hydraulics, electronics, and cab, roof improvements, solar installation, and professionally renovated hallways and lobby. The building offers 33 subterranean parking spaces—well above local standards— including EV charging stations.
With its scale, prime location, meticulous renovations, assumable financing, and substantial remaining rental upside, 1115 14th Street represents a rare turnkey investment opportunity in one of Southern California’s most supply-constrained and desirable rental markets.
Investment highlights
Premier Location – Situated in Santa Monica’s coveted “North of Wilshire” neighborhood, one of the city’s most desirable and supply-constrained rental markets.
Rare Scale – 23-unit property in a submarket where most buildings are 10 units or fewer.
Significant Capital Investment – Over $3,300,000 spent on high-end renovations and upgrades since 2019.
Excellent Unit Mix – 1 ADU studio, 5 one-bedroom/ one-bath, 14 two-bedroom/two-bath, 2 three bedroom/two-bath, and one extraordinary two-story four-bedroom penthouse.
Turnkey Penthouse – Custom $500,000 renovation including private key-locked elevator, 360-degree rooftop deck, gourmet Thermador kitchen, open living area with fireplace and wet bar, luxury primary suite with steam shower and freestanding tub, home office, laundry room, and surround sound.
Exceptional Parking – 33 subterranean parking spaces with some EV charging stations (well above market standards).
Extensively Renovated Units – 15 units fully upgraded with wide-plank vinyl flooring, quartz countertops, stainless steel appliances, stacked in-unit washers/ dryers, modern cabinetry, recessed lighting, HVAC, and smooth ceilings.
Building-Wide Improvements – New windows, upgraded plumbing and electrical, complete elevator modernization with all new hydraulics, electronics, and cab, roof improvements, solar installation, and professionally finished hallways and lobby.
Unmatched Lifestyle Access – Walking distance to Montana Avenue, the Third Street Promenade, and Santa Monica Place, offering tenants premier access to world-class shopping, fine dining, entertainment venues, and the beach.
Investment Upside – Significant rental growth potential remains, with assumable financing in place.
Vintage & Quality – Built in 1972, now transformed into a modern, luxury multifamily asset.
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