1434 14th Street, Santa Monica, CA 90404

1434 14th Street represents one of the most straightforward shovel-ready development opportunities currently available in Santa Monica. The hard work of entitlement is done — approved plans are in hand, the city has signed off, the building permit has been issued and the buyer can move directly into the construction phase without navigating years of discretionary review.

The approved project is a three-story, nine-unit residential apartment building plus one accessory dwelling unit (ADU), over a full level of subterranean parking. The project was designed by Plus Architects and engineered by MNS Engineering and Harvey A. Goodman Civil Engineering. The density was achieved through Santa Monica's Tier 2 Community Benefits program and California's 35% density bonus, pushing the allowable count from a six-unit base to nine units. Two of the nine units are deed-restricted affordable at low income levels, both two-bedroom configurations. The remaining seven units are market rate.

The existing 1925 bungalow duplex is vacant and sold as-is. There are no tenant relocation obligations and no displacement costs. The site is priced to reflect its entitlement value, not its existing improvements.

Santa Monica is one of the most supply-constrained rental markets in the United States. With less than four miles of coastline, a hard western boundary at the Pacific Ocean, near-zero developable vacancy, and some of the most restrictive entitlement processes in California, new multifamily supply rarely enters the market. RTI opportunities of this quality are uncommon.

The city routinely ranks among the top places to live nationally for walkability, transit access, outdoor lifestyle, and dining. Tenants skew young professional and tech-adjacent — employment in the adjacent Silicon Beach corridor supports deep rental demand at premium price points.