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$ 2,275,000
Est. payment | /mo
3,462 SqFt
$ 2,275,000
Est. payment | /mo
3,462 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,462 sqft
Price per Sqft $657
MLS Listing ID CL26637121
HOA Y/N No
Year Built 1949
Lot Size 7,483 Sqft
Acres 0.1718
Property Sub-Type Other
Property Description
NOW PRICED AT AN IN PLACE 5.6% 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 7.4% 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
State CA
County Los Angeles
Zoning SMR3*
Interior
Cooling None
Fireplace No
Laundry Common Area
Building
New Construction No
Others
Tax ID 4282022020
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Listed by Adam Kanizo • Paloma Realty Partners, Inc.
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