Sold
1450 Franklin Street
Santa Monica CA, 90404
$2,350,000
$991.56 per sqft
Sold
6 Beds
3 Baths
2,370 sqft
Residential
Built in 1944
Listed by Stacey Valnes with Create 310-880-1653
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.
22221173
MLSⓇ ID
November 28, 2022
Listed
March 23, 2024
Updated
Map
1450 Franklin Street
Santa Monica CA, 90404
Interior Features
Total Stories
1
Bedrooms
6 Beds
Bathrooms
3 Baths
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer
Floor Description
Tile, Wood
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.18 Acres
Other Property Details
Area Name
C14 - Santa Monica
Days on Market
53
Garage
Yes
Garage Spaces
3
Parking Total
4
View
No
County
Los Angeles
Pool
No
Zoning
SMR2*
Buyer Agency Compensation
2.5%
Listing Contact: 310-880-1653
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Data last updated on 3/23/2024 at 1:16 AM UTC