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… Read More 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. Read Less
Property listed by Paloma Realty Partners, Inc., Adam Kanizo 310-259-7556
Listing Snapshot
Days Online
249
Last Updated
3/4 Baths
8
Square Ft.
3,462
Lot Size
0.17 Acres
Year Built
1949
MLS Number
26637121
Additional Details
Appliances & Equipment
Dishwasher
Building
Built in 1949, Living area: 3462.0, 5 buildings, 2 stories, Levels: Two
Cooling
None
Exterior Features
Patio/Porch Features: Enclosed, FrontPorch
Garage
4 spaces
Income
Gross Income: $183,804, Net Operating Income: $128,350
Laundry
CommonArea
Lot
0.1718 acres
Parking
4 total parking spaces, Assigned, ControlledEntrance, DoorSingle, Garage
Taxes
Parcel Number: 4282022020, Zoning: SMR3*
Tenant Pays
Electricity, Gas
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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