1427 Euclid Street, Santa Monica, CA 90404
List Price: $2.27M
Listing Status: Active
Original List Price: $2.33M
0Days on Market: 111
0 Bedrooms · 8 Bathrooms · 3,462 sq ft
Property Type: ResidentialIncome
Year Built: 1949
Lot Size: 7,483 sq ft
Garage Spaces: 4
MLS Number: 26637121
About This Property
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.
Listing provided by: Adam Kanizo DRE #02008361 310-392-2436 ak@palomarealtypartners.com, Paloma Realty Partners, Inc.
Source: CRMLS, MLS #: 26637121
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.