1925 Euclid St · Santa Monica, CA 90404

$1,795,000

8 bd · 6.0 ba · 4,482 sqft · MultiFamily · 444 Days on market

Good condition 7,517 sqft lot $400/sqft · 23% below area Est $2346k · 23% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Schools +6.2/10.0
• DSCR +3.9/10.0
• Condition / age +3.8/5.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Appreciation +3.3/10.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

TWO VACANT UNITS!! This incredible investment opportunity is close to Santa Monica College and located in the heart of Santa Monica just 13 blocks to the beach. There are two separate buildings - a two story 4 unit building (upper front 2 bedroom is vacant) in front with a brand new roof and yards and two side by side one story one bedroom cottages with private yards and a brand new roof (one is vacant) at the rear of the property. Off the alley there are 5 side by side open parking spaces. Stairs and deck inspections "passed" by the city of Santa Monica. New copper plumbing. New electrical panel and meters. Brand new roofs. This exciting opportunity sits on a large 7,517 square foot lot. * Inside with an accepted offer only *

Key facts

• Large lot
• Open parking spaces
• 7,517 sq ft lot

Tags

• OWNER USER APARTMENT BUILDING
• TWO SEPARATE BUILDINGS
• ONE STORY ONE BEDROOM COTTAGES
• TWO STORY 4 UNIT BUILDING
• OPEN PARKING SPACES
• LARGE LOT

What this means for you Summary

Snapshot

• This is a 2×2bd/1.5ba + 2×1bd/1.5ba units multifamily listed at $1.79M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-90 ($-1k/yr) — negative. Per door: $-23/mo.
• To cash-flow at today's rent, offer at most $1.78M (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.56M (13.2% below list).
• Recommended offer: $1.56M (13.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 1.2% in Santa Monica — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#178 in CA) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: health & safety C-, crime F, cost of living F.
• Santa Monica-Malibu Unified (urban): math 61% / reading 74% proficiency, ranked #123 of 1,400 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 66 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $15,588/mo this rent would consume 197% of the median local household income ($95k/yr) (locally 1828% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $54k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 444 days — a 12% lower offer ($1.58M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,558,800 (13.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 444 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $2,345,809
• List price: $1,795,000
• Delta: -23.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2007 21st St	0.60mi	8/4.0	4,631 (+3%)	11mo	$2,100,000	$453	50
821 Maple St	0.55mi	8/6.0	3,904 (-13%)	20mo	$1,950,000	$499	36
2408 5th St	0.74mi	8/6.0	3,996 (-11%)	24mo	$2,100,000	$526	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.06% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.32×
• Total profit: $-341,180
• Equity at exit: $267,640

10-year hold

• IRR: -21.1%
• Equity multiple: 0.05×
• Total profit: $-476,866
• Equity at exit: $155,199

Cash invested: $502,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90404

• Home prices YoY: -0.9%
• Rents YoY: 0.1%
• Active inventory: 66
• Price-to-rent: 35.9×

Monthly cashflow live

• Estimated rent: $15,588 high
• Mortgage (P&I): −$9,413
• Tax est. 1.5%: −$2,244 /mo · $26,925/yr
• Insurance: −$748
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,273
• Net cashflow: $-90

Break-even live

Break-even rent $15,702

Max offer price $1,781,930

Occupancy floor 96%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$8,330
▸ 2× units	1	1.5	$7,258
Total (4 units)			$15,588

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $448,750
• Closing costs: $53,850
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $1,795,000 Active 444 DOM
2. 2026-06-17
   days on market $1,795,000 Active 443 DOM
3. 2026-06-16
   days on market $1,795,000 Active 442 DOM
4. 2026-06-15
   days on market $1,795,000 Active 441 DOM
5. 2026-06-13
   days on market $1,795,000 Active 439 DOM
6. 2026-06-13
   days on market $1,795,000 Active 438 DOM
7. 2026-06-09
   days on market $1,795,000 Active 435 DOM
8. 2026-06-08
   days on market $1,795,000 Active 434 DOM
9. 2026-06-07
   days on market $1,795,000 Active 433 DOM
10. 2026-06-04
    days on market $1,795,000 Active 430 DOM
11. 2026-06-03
    days on market $1,795,000 Active 429 DOM
12. 2026-06-02
    days on market $1,795,000 Active 428 DOM
13. 2026-06-01
    days on market $1,795,000 Active 427 DOM
14. 2026-05-31
    days on market $1,795,000 Active 426 DOM
15. 2025-12-01
    status Active 746-char remark

    Show marketing remark (746 chars)

    TWO VACANT UNITS!! This incredible investment opportunity is close to Santa Monica College and located in the heart of Santa Monica just 13 blocks to the beach. There are two separate buildings - a two story 4 unit building (upper front 2 bedroom is vacant) in front with a brand new roof and yards and two side by side one story one bedroom cottages with private yards and a brand new roof (one is vacant) at the rear of the property. Off the alley there are 5 side by side open parking spaces. Stairs and deck inspections "passed" by the city of Santa Monica. New copper plumbing. New electrical panel and meters. Brand new roofs. This exciting opportunity sits on a large 7,517 square foot lot. * Inside with an accepted offer only *

16. 2025-07-20
    historical Backup Offers Accepted 746-char remark

    Show marketing remark (746 chars)

    TWO VACANT UNITS!! This incredible investment opportunity is close to Santa Monica College and located in the heart of Santa Monica just 13 blocks to the beach. There are two separate buildings - a two story 4 unit building (upper front 2 bedroom is vacant) in front with a brand new roof and yards and two side by side one story one bedroom cottages with private yards and a brand new roof (one is vacant) at the rear of the property. Off the alley there are 5 side by side open parking spaces. Stairs and deck inspections "passed" by the city of Santa Monica. New copper plumbing. New electrical panel and meters. Brand new roofs. This exciting opportunity sits on a large 7,517 square foot lot. * Inside with an accepted offer only *

17. 2025-03-31
    listed $1,795,000 Active 746-char remark

    Show marketing remark (746 chars)

    TWO VACANT UNITS!! This incredible investment opportunity is close to Santa Monica College and located in the heart of Santa Monica just 13 blocks to the beach. There are two separate buildings - a two story 4 unit building (upper front 2 bedroom is vacant) in front with a brand new roof and yards and two side by side one story one bedroom cottages with private yards and a brand new roof (one is vacant) at the rear of the property. Off the alley there are 5 side by side open parking spaces. Stairs and deck inspections "passed" by the city of Santa Monica. New copper plumbing. New electrical panel and meters. Brand new roofs. This exciting opportunity sits on a large 7,517 square foot lot. * Inside with an accepted offer only *

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥80°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $187,056
• − Mortgage interest: −$100,548
• − Property taxes: −$26,925
• − Insurance: −$8,975
• − Repairs & maintenance: −$14,964
• − Management: −$14,964
• − Depreciation: −$52,218
• Taxable loss: −$31,539
• Est. tax savings @ 24.0%: +$7,569
• After-tax cash flow: $6,486/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab

This multi-family property offers a good investment opportunity with two vacant units and new roofs. A fresh coat of paint and updates to kitchens and bathrooms would significantly enhance its value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Update kitchens and bathrooms — Modernizes the property and increases both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Update kitchens and bathrooms — Modernizes the property and increases both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Santa Monica-Malibu Unified
• NCES district ID: 0635700
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $81,489
• Composite: 61.58/100
• National rank: #1535
• State rank: #123 of 1400 in CA

Livability — Santa Monica

• Score: 72/100
• State rank: #178
• US rank: #5878

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing B- Health & safety C- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Monica, CA
• County: Los Angeles County · 9,444,647 people
• City population: 93,581
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 22,978
• Household income: $95,139
• Rent vs Own: 78.6% rent · 21.4% own
• Severe rent burden: 1828.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 45% Hispanic / Latino 27% Two or more races 17% Asian 11% Black 10%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Italian 4% Scotch-Irish 2% Romanian 2%
• Foreign-born: 24% · Canada, China, South Korea
• Languages at home: 65% English-only · Spanish 19% Other Indo-European 5% Chinese 3%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.36%
• Current HPI: 376.4711
• Rent YoY: ▲ 0.06%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

3 events — show timeline

• 2025-12-01 Relisted — TheMLS
• 2025-07-20 Contingent — TheMLS
• 2025-03-31 Listed $1,795,000 TheMLS