1423 Euclid St, Santa Monica, CA 90404

Property Description

HUGE $950K PRICE REDUCTION!!!! Introducing 1423 Euclid St & 1427 Euclid St, side by side, combined 17-unit multifamily properties in prime Santa Monica. Each with their own separate APN (4282-022-021 & 4282-022-020) for the first time on the market in decades, this 1974-built, 3-story property, and 1920's, 6 unit bungalows together stands as an outstanding investment opportunity. Priced competitively at a combined $353k per unit and $384 per square foot, they feature large, spacious units, two townhouse style units, balconies, locked gated entry, abundant parking with 8 individual spaces in a gated semi-subterranean garage plus 9 individual garages off the back alley. These present future ADU possibilities. Currently there is one vacancy. The properties offer attractive upside in rents, highlighting its significant value-add potential. This is further amplified by recent upgrades including a 2023-installed hot water boiler, a 5-year-old roof, and partial sewer and electrical improvements. Pedestrian walkways on each floor were also resealed about five years ago. Boasting an incredible Walk Score of 89 of 100, the building is a "Very Walkable," strategically located mere blocks from Downtown Santa Monica. This location provides tenants virtually unlimited shopping, dining, and entertainment options. Both 1423 &1427 Euclid properties must be sold together. With its unique blend of immediate income potential, future value upside, and a competitive price point, 1423 & 1427 Euclid St stands as an exceptional investment opportunity. Offering Memorandum is available upon request.