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

Type

SingleFamilyResidence

Bedrooms

10

Building size

6,248 sqft

Lot size

7,495 sqft

Year built

1958

Stories

2

Garage spaces

3

Pool

None

Status

Active

Days on market

0

MLS #

245142295

About this property

This 10-unit apartment building with two non-conforming units is located in a highly desirable pocket of Santa Monica. Built in 1958, the property consists of approximately 6,248 square feet situated on a 7,495 square foot lot. The property features an attractive unit mix of one 3-bedroom/2-bath unit, eight 1-bedroom/1-bath units, and three studio units. Offered at a 5.75% Current CAP Rate and 11.24 Current GRM, the property presents investors with the opportunity to acquire a well-located multifamily asset at an attractive cost per unit of $280,000. The property offers exceptional income growth potential, achieving a projected 10.45% Pro Forma CAP Rate and 7.28 Pro Forma GRM. The property includes three one-car garages and five carport parking spaces with additional driveway space, providing valuable on-site parking for tenants. Its central Santa Monica location offers convenient access to Downtown Santa Monica, the Third Street Promenade, Santa Monica Beach, major employment centers, and the area's renowned shopping and dining destinations. Located in one of Los Angeles County's strongest rental markets, this offering presents an attractive opportunity to acquire a well-positioned multifamily investment with strong in-place income and significant long-term upside potential.

Location

1444 Euclid

Santa Monica, Los Angeles, CA, 90404