NOT LISTED FOR SALE

814 3rd St Santa Monica, CA 90403

Wilshire Montana Neighborhood

Estimated Value: $6,790,000

9 Beds
14 Baths
7,646 Sq Ft
$888/Sq Ft Est. Value

Last Sold April 24, 2023

Last sale price $5,200,000 $680 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $41,127/month

108 Days on Market

About This Home

As of April 2023

Listed with 820 3rd St (APN: 4292-024-004). 814 & 820 3rd Street, a 14-unit opportunity located in prime Santa Monica, one of the most sought-after cities in Southern California. Originally constructed in 1908 and 1940, the Property consists of two single-story bungalow style structures and one two-story building situated on two contiguous lots totaling over 15,000 square feet of land. 814 3rd St is comprised of 9 units with 5 studios and 4 (1+1) units. 820 3rd St features a unit mix of 5 (1+1) units. Rare opportunity for an investor to enter a high-demand rental market with the potential to significantly increase value by renovating units and stabilizing the property. 8 out of the 14 units will be DELIVERED VACANT, providing the opportunity for an investor to immediately upgrade the units and capture market rents. The property is separately metered for electricity and gas and is equipped with 9 garages for tenant parking. Each unit includes their own washer and dryer or laundry hook ups. Through a systemic renovation program, a savvy investor will have the opportunity to capitalize on the rental upside. Additionally, the properties are zoned R3 (medium density residential), offering future development potential (buyer to confirm). he Property is positioned in the highly coveted Wilshire Montana neighborhood of prime Santa Monica. Tenants enjoy being within walking distance to Montana Avenue and only three blocks from the beach. The Property is conveniently surrounded by nearby amenities including critically acclaimed restaurants, trendy bars, shopping, hotels, entertainment venues, and notable destinations including the Montana Ave shops, Downtown Santa Monica, 3rd Street Promenade, and The Santa Monica Pier. Further, the Property is situated among the major Silicon Beach and Culver City employment hubs. 814 & 320 3rd Street presents investors with the rare opportunity to acquire an ideally located, pride of ownership apartment building with significant upside and future development potential.

Last Listed By

Janet Neman

Kidder Mathews of California, Inc. License #01069127 Listed on: 11/28/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $38,744

Year Built

  • Built in 1908

Lot Details

  • 0.34 Acre Lot

Parking

  • 9 Parking Spaces

Home Design

  • 7,646 Sq Ft Home

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 14 Bathrooms

Laundry

  • Laundry in unit
  • Washer

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water, gardener
  • Assessor Parcel Number 4292-024-003

Community Details

Overview

  • 2 Buildings
  • 14 Units

Building Details

  • Rent Control

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$38,744

Year Built

Built in 1908

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: Yes
  • Living Area: 7646
  • Lot Acreage: 0.3400
  • Year Built: 1908
  • Number Of Photos: 12
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 9
  • Laundry: In Unit
  • Total Bathrooms: 14.00
  • Equipment: Gas Or Electric Dryer Hookup, Washer
  • Price Per S Q F T: 849.46

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Garage Is Attached
  • Total Parking: 9

Lot Info

  • Assessed Improvement Percent: 7.69
  • Assessed Improvement Value: 268049
  • Assessed Land Percent: 92.31
  • Assessed Land Value: 3216605
  • Total Assessed Value: 3484654
  • Assessor Parcel Number: 4292-024-003
  • Lot Size Area: 15011

Rental Info

  • Owner Pays: Water, Gardener
  • Rent Control: Yes
  • Tenant Pays: Electricity, Gas

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 17.37
  • Number Of Units: 14
  • Total Annual Expense: 132635
  • Type Of Units: Multifamily
  • Vacancy Rate: 3%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 28, 2022
Closed on
Mar 27, 2023
Sold by
Arai Masaaki
Bought by
Ocean Breeze Cottages Llc
Seller's Agent
Janet Neman
Kidder Mathews of California, Inc.
Buyer's Agent
Janet Neman
Kidder Mathews of California, Inc.
List Price
$6,495,000
Sold Price
$5,200,000
Premium/Discount to List
-$1,295,000
-19.94%
Total Days on Market
108
Views
72
Current Estimated Value
$6,790,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,590,000
Avg. Annual Appreciation
14.07%
Original Mortgage
$3,700,000
Outstanding Balance
$3,625,339
Interest Rate
6.73%
Mortgage Type
Seller Take Back
Estimated Equity
$3,149,661

Purchase Details

Listed on
Jul 24, 2017
Closed on
Oct 19, 2017
Sold by
Browne Burton A
Bought by
Moreno Guillermo Richarte
Seller's Agent
James Joseph
Liberty Real Estate Services
Buyer's Agent
James Joseph
Liberty Real Estate Services
List Price
$5,100,000
Sold Price
$5,000,000
Premium/Discount to List
-$100,000
-1.96%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.72%

Purchase Details

Closed on
Apr 14, 2009
Sold by
Moreno Guillermo Richarte
Bought by
Richarte Guillermo

Purchase Details

Closed on
Jan 16, 2006
Sold by
Revocab Moreno Guillermo Richarte and Revocab George William Mitzner
Bought by
Moreno Guillermo Richarte

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Ocean Breeze Cottages Llc $5,200,000 Chicago Title Company
Arai Masaaki $5,000,000 None Available
Richarte Guillermo -- None Available
Moreno Guillermo Richarte -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ocean Breeze Cottages Llc $3,700,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/24/2023 04/24/23 Sold $5,200,000 -19.9% $680 / Sq Ft
11/28/2022 11/28/22 For Sale $6,495,000 +29.9% $849 / Sq Ft
11/17/2017 11/17/17 Sold $5,000,000 -2.0% $1,074 / Sq Ft
10/17/2017 10/17/17 Pending -- -- --
07/24/2017 07/24/17 For Sale $5,100,000 -- $1,095 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $38,744 $2,983,500 $1,912,500 $1,071,000
2023 $42,854 $3,554,346 $3,280,937 $273,409
2022 $42,340 $3,484,654 $3,216,605 $268,049
2021 $41,323 $3,416,329 $3,153,535 $262,794
2019 $40,657 $3,316,900 $3,060,000 $256,900
2018 $38,253 $3,251,900 $3,000,000 $251,900
2016 $12,389 $972,524 $715,672 $256,852
2015 $12,232 $957,916 $704,922 $252,994
2014 $12,129 $939,153 $691,114 $248,039
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2023

    Janet Neman

    Kidder Mathews of California, Inc.

    (310) 926-5181

    1 in this area

    15 Total Sales

    Janet Neman
    Section Image
  • Angelica Gotzev

    Buyer Co-Listing Agent in 2023

    Angelica Gotzev

    Kidder Mathews of California, Inc.

    (818) 636-6342

    1 in this area

    4 Total Sales

    Angelica Gotzev
    Section Image
  • James Joseph

    Seller's Agent in 2017

    James Joseph

    Liberty Real Estate Services

    (562) 236-0088

    4 Total Sales

    James Joseph
    Section Image
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Map

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Source: The MLS

MLS Number: 22-221053

The MLS

APN: 4292-024-003

California Los Angeles County Santa Monica 90403 Wilshire Montana

814 3rd St, Santa Monica, CA

Homes for Sale in Santa Monica, CA

This home is located at 814 3rd St, Santa Monica, CA 90403 since 28 November 2022 and is currently priced at $6,790,000, approximately $888 per square foot. This property was built in 1908. 814 3rd St is a home located in Los Angeles County with nearby schools including Roosevelt Elementary School, Lincoln Middle School, and Santa Monica High School.

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