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Listed by Brett Lyon, DRE #01717818 • Lyon Stahl Investment Real Estate, Inc.
$ 2,800,000
Est. payment /mo
Active
1444 Euclid Santa Monica, CA 90404
7,495 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26159465
Year Built 1958
Lot Size 7,495 Sqft
Source California Regional MLS
Property Description
This 10-unit apartment building with two non-conforming units is located in a highly desirable pocket of Santa Monica. Built in 1958, the property consists of approximately 6,248 square feet situated on a 7,495 square foot lot. The property features an attractive unit mix of one 3-bedroom/2-bath unit, eight 1-bedroom/1-bath units, and three studio units. Offered at a 5.75% Current CAP Rate and 11.24 Current GRM, the property presents investors with the opportunity to acquire a well-located multifamily asset at an attractive cost per unit of $280,000. The property offers exceptional income growth potential, achieving a projected 10.45% Pro Forma CAP Rate and 7.28 Pro Forma GRM. The property includes three one-car garages and five carport parking spaces with additional driveway space, providing valuable on-site parking for tenants. Its central Santa Monica location offers convenient access to Downtown Santa Monica, the Third Street Promenade, Santa Monica Beach, major employment centers, and the area's renowned shopping and dining destinations. Located in one of Los Angeles County's strongest rental markets, this offering presents an attractive opportunity to acquire a well-positioned multifamily investment with strong in-place income and significant long-term upside potential.
Location
State CA
County Los Angeles
Area C14 - Santa Monica
Interior
Laundry Laundry Area
Exterior
Garage Spaces 11.0
Pool None
Building
Water District - Public
Others
Tax ID 4282023006
Special Listing Condition Not Applicable
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