1427 Euclid Street

Description

WE LOVE BUNGALOWS!! Introducing 1427 Euclid St, a rare 6-unit multifamily property in Santa Monica, priced at an attractive $391K per unit in the low $2M range. The property features mainly individual bungalows within five separate structures, affording residents unmatched privacy due to minimal shared walls. A notable addition to this asset is its four single-car garages. Importantly, three of these garages are owner-occupied and will be delivered vacant at close, providing immediate avenues for additional revenue streams, either through separate garage rentals or convenient ADU conversion. he bungalows' roofs were recently serviced in 2022 with a renowned sealer, initiated on a five-year maintenance cycle. This long-held family asset, first on the market in decades, offers investors a significant value-add potential, underscored by a striking 30% upside in rents. Additionally, its Walk Score of 90 signifies a "Walker's Paradise," giving tenants unparalleled access to amenities in Downtown Santa Monica. The property's prime location enhances its appeal, located just blocks from Downtown Santa Monica. For those looking for a diversified investment strategy, 1427 Euclid St is offered individually or alongside its 11-unit sister property, 1423 Euclid St. With its distinctive architectural layout, compelling per-unit pricing, and remarkable potential for rent growth and additional revenue, 1427 Euclid St stands as an exceptional investment opportunity in a high-demand market.