Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

6

Building size

3,462 sqft

Lot size

7,483 sqft

Year built

1949

Stories

2

Garage spaces

4

Cooling

None

Status

Active

Days on market

247

MLS #

237221540

About this property

NOW PRICED AT AN IN PLACE 5.8% CAP RATE! 1427 Euclid Street presents a rare opportunity to acquire a high-performing 6-unit multifamily property in Santa Monica with meaningful ADU and income upside. The property features four detached bungalow units and two units above four garages, creating an exceptional layout for garage-to-ADU conversion. Upon completion of the ADUs, the property is projected to achieve an in-place 7.7% cap rate without factoring in any rent increases or unit upgrades. One of the garages is already generating $400 per month as a rented storage unit. The sellers have recently completed foundation upgrades, providing investors with confidence in the building's structural integrity and long-term durability.Located on a 7,483 SF R3-zoned lot, the property offers spacious units, strong existing cash flow, and multiple value-add pathways, including both ADU development and future rent growth. Situated just off Santa Monica Boulevard, residents enjoy excellent walkability and connectivity to major employers, retail, transit, and the beach, with convenient access to both freeways and Metro lines.

Location

1427 Euclid Street

Santa Monica, Los Angeles, CA, 90404