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1444 Euclid St 10 Unit Apartment Building $2,800,000 ($280,000/Unit) 5.75% Cap Rate Santa Monica, CA 90404
Investment Highlights
- Long Term Ownership, Family Owned and Available for Purchase for the First Time in 26 Years
- Potential Attached ADU Opportunity, New Ownership has Potential to Convert Vacant Garages Through the State’s Favorable Attached ADU Program
- Walk Score of 86 - ‘Very Walkable’
- Immediate Value-Add Opportunity, Five Units will be Delivered Vacant Allowing New Ownership the Opportunity to Immediately Renovate in Order to Achiev
- Extremely Attractive Cost Per Unit of $280,000
- 65% Remaining Rental Upside for the Occupied Units Through Interior Renovations
Executive Summary
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.
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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $280,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.75% | Building Size | 8,936 SF |
| Gross Rent Multiplier | 11.24 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 0.67/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | SMR3* - Restricted Density Multiple Dwelling | ||
| Price | $2,800,000 |
| Price Per Unit | $280,000 |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| Gross Rent Multiplier | 11.24 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,936 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 0.67/1,000 SF |
| Zoning | SMR3* - Restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
| 3+2 | 1 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4282-023-006 | Improvements Assessment | $180,985 |
| Land Assessment | $123,744 | Total Assessment | $304,729 |
Property Taxes
Parcel Number
4282-023-006
Land Assessment
$123,744
Improvements Assessment
$180,985
Total Assessment
$304,729
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