1434 15th Street
Santa Monica, CA 90404
Listing broker / agent: Marcus & Millichap · Neema Ahadian · CRMLS
MLS # 26989859 · Last checked Oct 22, 2026 01:54 UTC
About this property
We are pleased to present 1434 15th Street, a 10-unit multifamily asset in Santa Monica's Mid-City neighborhood, one of the Westside's strongest and most consistent rentalmarkets.Built in 1957, the property is comprised entirely of ten 1-bedroom/1-bathroom units at approximately 650 square feet each, a clean, homogenous unit mix that simplifies underwriting,leasing, and ongoing management for the incoming owner. Several units have been extensively renovated with granite countertops, brand new appliances, new flooring, and freshpaint, including two units that are currently vacant and delivered at close of escrow, giving an incoming owner immediate, turnkey units to lease at market rents from day one. Current rents average $2,007 per unit against achievable market rents of $2,500 per unit, representing approximately 25% rental upside as the remaining below-market tenancies turn over, a compelling value-add story reflected in a current cap rate of 5.80% growing to a 7.85% pro forma cap rate. The building's exterior facade has just been freshly repainted, enhancing curb appeal and signaling pride of ownership while reducing near-term deferred maintenance exposure for the next owner. The property is fully parked, offering six spaces in the rear plus additional spaces at the front of the building, along with private garages fronting the street that are currently used for storage and present potential ADU conversion upside (buyer to verify with the City of Santa Monica). On-site laundry machines provide ownership with an ancillary income stream, and new electrical sub panels have been installed in select units, further reducing near-term capital exposure for the next owner. Mid-City is the second most walkable neighborhood in Santa Monica, carrying a Walk Score of 92, and sits a short distance from the Metro E Line at 17th St/SMC, Santa Monica College, and the retail and dining corridor along Wilshire Blvd, with the beach just over a mile away. This combination of transit access, daily amenities, and coastal proximity drives persistent tenant demand and low vacancy throughout the submarket.
Property details
- MLS number
- 26989859
- Status
- Active
- Type
- Residential Income
- Beds / baths
- 10 Beds • 10 Baths
- Living area
- 6,812 (area; units unconfirmed)
- Lot size
- 0.1721 acres
- County
- Los Angeles
- Year built
- 1957
- Stories
- 2
More property detailsCollapse
Listing
- Days on market
- 8
Building
- Year built
- 1957
- Stories
- 2
- Building stories
- 2
- Levels
- Two
Bathrooms
- Full bathrooms
- 0
- Half bathrooms
- 0
- Three-quarter bathrooms
- 0
- Quarter bathrooms
- 0
Rooms & interior
- Heating
- None
- Cooling
- None
Exterior & parking
- Total parking spaces
- 10
- Parking
- None
Fees & lease terms
- Association
- No
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Lincoln Middle (school website, opens in a new tab) Santa Monica-Malibu Unified · Santa Monica | 6–8 | 0.5 mi |
| McKinley Elementary (school website, opens in a new tab) Santa Monica-Malibu Unified · Santa Monica | Not reported | 0.7 mi |
| Santa Monica High (school website, opens in a new tab) Santa Monica-Malibu Unified · Santa Monica | 9–12 | 0.8 mi |
| Roosevelt Elementary (school website, opens in a new tab) Santa Monica-Malibu Unified · Santa Monica | K–5 | 1.0 mi |
| Franklin Elementary (school website, opens in a new tab) Santa Monica-Malibu Unified · Santa Monica | Not reported | 1.1 mi |
| Edison Elementary (school website, opens in a new tab) Santa Monica-Malibu Unified · Santa Monica | Not reported | 1.1 mi |
| Will Rogers Elementary (school website, opens in a new tab) Santa Monica-Malibu Unified · Santa Monica | Not reported | 1.1 mi |
| John Adams Middle (school website, opens in a new tab) Santa Monica-Malibu Unified · Santa Monica | 6–8 | 1.1 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $2,600,000
- MLS-reported original asking price
- $2,600,000
| Observed (UTC) | Asking price |
|---|---|
| Oct 2, 2026 05:56 | $2,600,000 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
Tax history is not available from the imported listing data.
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in Santa Monica
Active residential homes for sale in Santa Monica, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
31 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-22 02:42 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
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Illustration only—not a rate quote, preapproval, lending offer or affordability determination. Assumes equal monthly payments on a fully amortizing fixed-rate loan; no adjustable rates, interest-only periods or balloon payments. Excludes closing costs, utilities, maintenance, special assessments and other unentered costs. Actual payments and escrow can differ. Review a Loan Estimate with your lender.
Understanding homeownership costs — CFPB ↗