Sold

1423 Euclid St

Santa Monica CA, 90404

$5,220,000


$334.17 per sqft

Sold

16 Beds

15,621 sqft

Residential

Built in 1974

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.

23-308519

MLS ID

September 12, 2023

Listed

April 5, 2024

Updated

Map

1423 Euclid St
Santa Monica CA, 90404

Interior Features

Total Stories

3


Bedrooms

16 Beds


Appliances

None


Fireplace

No


Cooling

Yes


Cooling Description

Air Conditioning


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.34 Acres


Lot Features

5 Lots, Landscaped, Automatic Gate

Other Property Details

Area Name

Santa Monica


Days on Market

86


Garage

Yes


Garage Spaces

13


Parking

Community Garage, Covered Parking, Garage - 1 Car, Gated


Parking Total

0


View

No


County

Los Angeles


Pool

No


Zoning

SMR3*

Listing History

Date

Event

Price

3/18/2024

Sold

$5,220,000

Listed by Benjamin J. Hsiang with Realty Investment Advisors, Inc.
Listing Contact: 424-377-6001 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor DPP Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 4/5/2024

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