1423 Euclid St Santa Monica, CA 90404
Active
$3,995,000
11 Units
16 Beds
16 Baths
12,159 Area(sq.ft.)
7,513 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 2 | 2 | 2 | No | $ 2,745 | $ 5,849 | $ 9,000 |
| Unit 2 | 3 | 2 | 2 | No | $ 2,323 | $ 6,970 | $ 11,985 |
| Unit 3 | 4 | 1 | 1 | No | $ 1,973 | $ 7,894 | $ 11,980 |
| Unit 4 | 2 | studio | 1 | No | $ 2,118 | $ 4,236 | $ 4,790 |
| 4 | 11 | 14 | 16 | $ 24,587 | $ 72,656 | $ 111,455 |
| MLS #: | 24-423841 |
| Days On Market: | 87 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 329 |
| Price per unit: | $ 363,182 |
| Year Built: | 1974 |
Property Details
We are pleased to present the exclusive listing of 1423 Euclid St a three-story, eleven-unit multifamily property nestled in the heart of Santa Monica. The property offers a variety of living spaces, including two townhome-style 2-bedroom, 2-bathroom apartments, three spacious 2-bedroom, 2-bathroom apartments, four cozy 1-bedroom, 1-bathroom units, and two comfortable studios. Many units have private balconies. Each unit features gated entry & ample parking in secured garages or through the alley. Built in 1974, the property also boasts common area laundry. The second and third-floor units are bright and airy, with natural light and views stretching from the Santa Monica Mountains to Catalina Island. Recent upgrades include a new hot water boiler in 2023, a new roof in 2019, and partial sewer and electrical upgrades over the past few years. Residents will enjoy a 7-minute bike ride to iconic destinations like the Santa Monica Pier, Santa Monica Beach, and the vibrant 3rd Street Promenade, which hosts renowned brands such as Nike, Louis Vuitton, Nordstrom, Tesla, and Apple. Additionally, the area offers ample dining options, from local favorites like Wally's and the Cheesecake Factory to cozy cafes like Starbucks, La La Land Kind Cafe, and Urth Cafe. Santa Monica's relaxed beachside vibe and year-round pleasant weather make it an ideal place to live, complete with breathtaking ocean views. The upcoming 1945 Euclid St. project will introduce a three-story building with 39,000 square feet of office space and a two-story underground parking garage, developed by RedCar Properties. RedCar Properties is also working on three neighboring developments1640 14th St., 1650 Euclid St., and 1630 Euclid St which will add significant office space and retail, replacing an unattractive tow yard. These developments will generate job opportunities, drive housing demand, and enhance the area's appeal. Additionally, the nearby Aire Santa Monica is a luxury residential development featuring 19 units, including 11 townhomes and 8 flats, with high-end finishes and premium amenities, offering an upscale living experience with a focus on comfort and elegance.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 290,484 |
| Total Annual Expense: | $ 89,432 |
| Net Operating Income: | $ 201,052 |
| Gross Annual Income: | $ 295,065 |
| Cap Rate: | 5.03% |
| Gross Rent Multiplier: | 13.54 |
| Actual Gross Rent: | $ 295,065 |
Structure
| Type of Units: | Multifamily |
| Buildings: | 1 |
| Levels: | Three Or More |
Land & Parking
| Zoning: | SMR3* |
| Parking Garage: | Garage |
| Total Parking: | 13 |
Interior
| AC/Cooling: | Air Conditioning |
| Equipment: | None |
| Heating: | Wall |
Exterior
Detailed Map
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