1427 Euclid St

Offering Memorandum

Prime Santa Monica Location

Summary

Santa Monica Beach Landscape Skyline Taken from the Pier.jpg

UNITS

YEAR BUILT

GROSS SF

LOT SF

APN

ZONING

1924

3,462

7,482

4282-022-020

SMR3*

Opportunity

Introducing 1427 Euclid St, a rare 6-unit multifamily property in Santa Monica, priced at an attractive $391K per unit in the low $2M range. The property features mainly individual bungalows within five separate structures, affording residents unmatched privacy due to minimal shared walls. A notable addition to this asset is its four single-car garages. Importantly, three of these are owner-occupied and will be delivered vacant at close, providing immediate avenues for additional revenue streams, either through separate garage rentals or convenient ADU conversion.

The bungalows' roofs were recently serviced in 2022 with a renowned sealer, initiated on a five-year maintenance cycle. This long-held family asset, first on the market in decades, offers investors a significant value-add potential, underscored by a striking 30% upside in rents. Additionally, its Walk Score® of 90 signifies a "Walker’s Paradise," giving tenants unparalleled access to amenities in Downtown Santa Monica.

The property's prime location enhances its appeal, located just blocks from Downtown Santa Monica. For those looking for a diversified investment strategy, 1427 Euclid St is offered individually or alongside its 11-unit sister property, 1423 Euclid St.

With its distinctive architectural layout, compelling per-unit pricing, and remarkable potential for rent growth and additional revenue, 1427 Euclid St stands as an exceptional investment opportunity in a high-demand market.

Prime Location

Santa Monica

Santa Monica is a beachside city of 8.3 square miles on the westside of Los Angeles County. Offering an environment of unparalleled natural beauty, the city is home to a mix of residential communities, commercial districts, and recreational venues. Recently named by National Geographic as one of the Top "10 Beach Cities in the World" and by TIME as one of the "Best Places to Live", Santa Monica features three miles of Pacific beaches and the Santa Monica Pier. Santa Monica’s residential population is approximately 93,000, increasing to an estimated 250,000 during the day with tourists, shoppers, and employees. Tourism attracts over 8 million visitors annually.