JUST REDUCED 10/16/2024! INCREDIBLE OPPORTUNITY IN PRIME SANTA MONICA. Approved plans for two ADU units! Permits are READY TO ISSUE once fees are paid, meaning a buyer can break ground immediately upon closing. The addition of these units creates an exceptionally high cap rate for a multifamily property in prime Santa Monica! We are pleased to present for sale a high-quality multifamily asset in prime Santa Monica, CA. 1442 Stanford Street was built in 1964 and features 7 units with a gross square footage of 7,204. These spacious floorplans feature 1 and 2-bedroom options. There are (4) 2-bedroom, 2-bathroom units and (3) 1-bedroom, 1-bathroom units. Two of the units have been highly upgraded to include kitchens with quartz counters and shaker cabinets, bathrooms with floor to ceiling subway tile, and living areas with modern plank flooring and recessed lighting. 1442 Stanford is ideally located just south of Santa Monica Boulevard with easy access to both the beach and the greater Westside. Downtown Santa Monica is 2 miles to the west while West LA and the 405 freeway lie only 1.5 miles east. The stretch of Santa Monica Boulevard immediately adjacent to 1442 Stanford has seen quite a bit of recent development. The 50-unit project at 2828 Santa Monica was recently completed by La