Listed by Colliers - Los Angeles - Brentwood, California
$3,475,000
1942 Euclid Street
Details
APN 4283-028-002
Property Type Multifamily
Sub Type Apartment Building
Square Footage 8
Units 15
Cap Rate 4.98%
NOI $173,196
Pro-Forma Cap Rate 8.84%
Pro-Forma NOI $307,095
Price per SqFt $434,375
Year Built 1962
Acreage 0.170
Zoning R2
Parking Spaces 15 spaces
Parking per 1,000 SqFt 1,875.00
Multifamily | 15 Units | $231,667/unit
Marketing description
Located in the heart of Santa Monica, this 1962-built property spans 8,822 square feet across 15 units, offering a mix of (5) studio, (6) one-bedroom, one bathroom, (2) one-bedroom, two-bathroom, and den, and (2) two-bedroom, two bathroom floor plans. The building features 15 covered parking spaces, a rooftop area, and a community laundry room. Recent upgrades include a new roof in 2024 and updated electrical panels in 2025, offering investors the rare opportunity to acquire a turnkey Santa Monica asset coming to market for the first time in 18 years.
Investment highlights
- 15-unit property totaling 8,822 square feet, ideally located one mile from the beach and Main Street in prime Santa Monica
- First time on the market in 18 years, presenting a rare opportunity to
acquire a well-located, historically highly occupied asset with upside
Competitvely priced below replacement cost at $394 per square foot and $231,667 per unit - Opportunity for an investor to achieve a 8.84% pro forma cap rate
- The property’s average rent of $1,551 is significantly below the submarket average of approximately $3,800, offering an astute investor the opportunity to acquire affordable housing with exceptional upside potential
- Residents benefit from a rare roof deck with ocean views, community laundry room, and 15 covered parking spaces
- Recent capital improvements include new electrical panels completed in 2025, a new roof installed in 2024, and completed soft story retrofit
- Ideally located steps from Santa Monica College, which enrolls over 26,000 students and employs nearly 2,000 faculty members, the property benefits from strong rental demand driven by the college's lack of on-campus housing
- Average asking rents in the Santa Monica submarket are currently $3,839 and projected to grow by 4.27% over the next three years
- Average annual mortgage payment in Santa Monica ($103,297) is nearly 2.75 times higher than the average annual rent payment ($37,536), fueling strong demand for rental properties in the submarket
- Median home value of $1,746,543 within a three-mile radius
- The average household income within a three-mile radius is $191,292
- Within a five-mile radius of the property, the population is 478,003
- Ideally positioned near Silicon Beach’s thriving tech corridor, with immediate access to major employers including Snap Inc., Google’s Venice campus, and Adweek, and just minutes from Santa Monicabased companies such as Hulu, Amazon Studios, Activision Blizzard, and Bird
- Prime Santa Monica location less than two miles from both the iconic Third Street Promenade and vibrant Main Street, offering access to upscale shopping and dining destinations including Elephante, Water Grill, Cassia, Cobi’s, Blue Bottle Coffee, and Urth Caffé
- Located just two miles from the world-famous Santa Monica Beach and
Pier, providing residents with direct access to beach bike and walking
paths and a year-round outdoor lifestyle
Listing Contacts
Listed by Colliers - Los Angeles - Brentwood, California
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$173,196.00
$14,433.00/mo
Valuation Metrics
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DSCR
4.98%
Cap Rate
4.98%
ROI
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