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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$2,275,000

Est. payment - /mo

8 Baths

3,462 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,462 sqft

Price per Sqft $657

MLS Listing ID 26637121

HOA Y/N No

Year Built 1949

Lot Size 7,483 Sqft

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

Area C14 - Santa Monica

Zoning SMR3*

Interior

Cooling None

Fireplace No

Appliance Dishwasher

Laundry Common Area

Exterior

Parking Features Assigned, Controlled Entrance, Door-Single, Garage

Garage Spaces 4.0

Garage Description 4.0

Porch Enclosed, Front Porch

Total Parking Spaces 4

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4282022020

Special Listing Condition Standard

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Listed by Adam Kanizo Paloma Realty Partners, Inc. #02008361

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1427 Euclid ST Santa Monica, CA 90404