1447 18Th StSanta Monica, CA 90404

Property Details for 1447 18Th St

Year built

1990

Lot size

0.17 AC

Property size (Sq ft)

7,500 SF

Zone code

SMBCD*

Property type

Retail properties

Property subtype

Parking lots & garages

APN

4275-010-015

APU

4275010015

Description

This exceptional ±7,500 square foot vacant commercial lot presents a remarkable development opportunity in the vibrant Santa Monica, California market. Located at 1447 18th Street, in Los Angeles County, zip code 90404, this paved lot is currently leased at $5,500 per month until November 2023, providing immediate income potential. The property boasts a highly desirable MUBL zoning designation, allowing for a diverse range of uses including residential, residential care facilities, live/work spaces, and business/professional offices. The site's strategic location offers convenient access to the 10 Freeway at 20th Street, enhancing its appeal for both residential and commercial development. Adding to its potential, eleven units are currently under construction on the adjacent property, suggesting a strong and growing neighborhood. This prime location and flexible zoning make this ±7,500 square foot lot an ideal investment for developers seeking a high-return project in a thriving California coastal city. The property is ready for immediate development or continued lease income until November 2023. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $2,728,732

  6.5%

  $2,518,830

  7%

  $2,338,913

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,587,312

  Geo Method

  $3,594,024

• Alternative Use

  Use

  Valuation

  Residential

  $2,124,727

  Hospitality

  $1,946,239

  Educational

  $1,619,248

  Medical

  $1,674,936

  Retail

  $2,518,830

Location Insight

City

Santa Monica

County

Los Angeles

State

California

Latitude

34.0264

Longitude

-118.48

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].