1423 EUCLID STREET, SANTA MONICA CA 90404
- 12,159 sq.ft.
- 7,513 sq.ft. lot
Property Description
**Updated Financials & delivered with additional vacant unit.** Located in one of LA's most desirable rental markets, 1423 Euclid St is a rare opportunity to acquire a cash-flowing, oversized 11-unit multifamily asset with substantial embedded value. The property sits on a 7,159 SF R3-zoned lot and totals 12,159 SF, with spacious floor plans averaging ~1,100 SF per unit a premium offering for Westside renters. Currently generating solid returns with an in place 5.55% cap rate, the property allows for 2 additional ADUs, which push returns close to a 7% cap rate post-completion without factoring in rent escalations or further value extraction.The property has an assumable $1,975,000 interest only mortgage with JP Morgan Chase at 6.44% fixed for 5 years. Please inquire for more information. This makes 1423 Euclid an attractive hold for both yield-focused and value-add investors. Ideally positioned just off Santa Monica Blvd, the property offers residents immediate access to major employers, transit lines, local amenities, and the beach all within minutes. With a blend of in-place income, development upside, and prime location, 1423 Euclid checks all the boxes for long-term multifamily growth.
Listing Courtesy of Adam Kanizo, Paloma Realty Partners, Inc.
Interior Features
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