1420 20Th StSanta Monica, CA 90404

Property Details for 1420 20Th St

Year built

1949

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

1,960 SF

Zone code

SMR2*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

4275-009-004

APU

4275009004

Description

This exceptional Santa Monica property offers a fully entitled development opportunity for a luxury eight-story building. The 15,004 square foot lot, zoned SMR2, is approved for 50 multifamily units and 40 hotel keys, along with ground floor retail, a rooftop pool and deck, community rooms, and two levels of subterranean parking. The project's potential is further enhanced by the possibility of adding 35 more apartment units. Located at 1420 20th Street, this site boasts a prime location near the beach, the Third Street Promenade, and the Expo Line's 17th Street/Santa Monica College Station, providing convenient access to downtown Los Angeles. The property benefits from strong market fundamentals in a vibrant community with a thriving hospitality and multifamily market, surrounded by high-end shopping and dining. APN: 4275-009-004, 4275-009-005. This is a rare chance to develop a high-end project in one of the world's most desirable locations.

• CAP approach

  CAP return

  Valuation

  6%

  $603,036

  6.5%

  $556,648

  7%

  $516,888

• Comparable approach

  Method

  Valuation

  Relative Method

  $576,587

  Geo Method

  $577,706

• Alternative Use

  Use

  Valuation

  Residential

  $556,648

  Hospitality

  $509,887

  Educational

  $424,220

  Medical

  $438,809

  Retail

  $659,898

Location Insight

City

Santa Monica

County

Los Angeles

State

California

Latitude

34.028

Longitude

-118.48

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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