1925 Euclid St · Santa Monica, CA 90404

$1,795,000

9 bd · 6.0 ba · 4,482 sqft · MultiFamily · 495 Days on market

Good condition 7,517 sqft lot $400/sqft · 21% below area Est $2.266M · 21% 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 +14.1/30.0
• Schools +6.2/10.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Condition / age +3.8/5.0
• 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.

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 $264 ($3k/yr) — positive. Per door: $66/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.60M (10.7% below list).
• Recommended offer: $1.58M (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 1.3% 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: amenities A+, commute A+, employment 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.
• Zoned schools: Will Rogers Elementary (549 students, 35% FRL); John Adams Middle (837 students, 38% FRL); Santa Monica High (2,678 students, 30% FRL).
• Market conditions: 93 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $4,009/mo per unit this rent would consume 51% of the median local household income ($95k/yr) — 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 495 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 $1,579,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 495 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (median comp): $2,266,184
• List price: $1,795,000
• Delta: -20.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1044 Pacific St	0.31mi	9/5.0	4,646 (+4%)	1mo	$2,289,000	$493	74
1904 11th St	0.19mi	9/8.0	5,312 (+18%)	17mo	$2,220,000	$418	44
2206 Oak St	0.94mi	8/6.0 (-1)	4,122 (-8%)	3mo	$2,100,000	$509	44
2007 21st St	0.60mi	8/4.0 (-1)	4,631 (+3%)	12mo	$2,100,000	$453	43
1523 18th St	0.65mi	8/6.0 (-1)	5,238 (+17%)	11mo	$2,176,000	$415	30
821 Maple St	0.55mi	8/6.0 (-1)	3,904 (-13%)	21mo	$1,950,000	$499	30
2601 2nd St	0.98mi	8/5.0 (-1)	3,586 (-20%)	10mo	$2,800,000	$781	22

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-273,786
• Equity at exit: $267,640

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-215,742
• 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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 4 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $4,995,000 ($1078/sqft)
• Median days on market: 99 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -53.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 90404

• Home prices YoY: -0.9%
• Active inventory: 93
• Price-to-rent: 33.2×

Monthly cashflow live

• Estimated rent: $16,037 high
• Mortgage (P&I): −$9,413
• Tax est. 1.5%: −$2,244 /mo · $26,925/yr
• Insurance: −$748
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,368
• Net cashflow: $264

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$9,000
▸ 2× units	1	1.5	$7,036
Total (4 units)			$16,037

Break-even live

Break-even rent $15,702

Max offer price $1,795,000

Occupancy floor 93%

Sensitivity live

Price	-10% $1,505	-5% $885	+0% $264	+5% $-356	+10% $-976
Rent	-10% $-1,003	-5% $-369	+0% $264	+5% $898	+10% $1,531
Rate	-1.0pp $1,168	-0.5pp $721	base $264	+0.5pp $-201	+1.0pp $-674

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1937 Euclid Ct Santa Monica, CA	2.0	3.5	1466	$4,500	$3.07	93d	1	0.03mi
1937 Euclid St #105 Santa Monica, CA	2.0	2.5	1466	$4,500	$3.07	93d	1	0.03mi
1855 Euclid St Unit 1851 Santa Monica, CA	1.0	1.0	—	$2,299	—	65d	1	0.06mi
1855 Euclid St Unit 1851C Santa Monica, CA	1.0	1.0	—	$2,299	—	71d	1	0.06mi
1313 Pico Blvd Unit A Santa Monica, CA	2.0	1.0	—	$2,495	—	30d	1	0.07mi
1837 Euclid St Unit 1839 C Santa Monica, CA	1.0	1.0	800	$2,800	$3.50	39d	1	0.09mi
1837 Euclid St Unit 1839 B Santa Monica, CA	1.0	1.0	800	$3,100	$3.88	4d	1	0.09mi
1837 Euclid St Santa Monica, CA	1.0	1.0	425	$2,399	$5.64	93d	1	0.09mi
1132 Pico Blvd Apt E Santa Monica, CA	—	1.0	395	$1,875	$4.75	4d	1	0.10mi
1132 Pico Blvd Apt E Santa Monica, CA	—	1.0	500	$1,850	$3.70	93d	1	0.10mi
2016 Euclid St #16 Santa Monica, CA	2.0	2.0	1082	$3,650	$3.37	93d	1	0.11mi
2027 Euclid St Unit A Santa Monica, CA	1.0	1.0	650	$2,795	$4.30	93d	1	0.12mi
2027 Euclid St Unit C Santa Monica, CA	1.0	1.0	650	$2,975	$4.58	48d	1	0.12mi
2027 Euclid St Unit A Santa Monica, CA	1.0	1.0	650	$2,725	$4.19	71d	1	0.12mi
1819 Euclid St Unit B Santa Monica, CA	1.0	1.0	600	$3,250	$5.42	23d	1	0.12mi
1122 Pico Blvd Santa Monica, CA	2.0	2.0	979	$4,295	$4.39	22d	1	0.13mi
2033 Euclid St Santa Monica, CA	2.0	1.0	—	$2,995	—	4d	1	0.14mi
1913 11th St Unit 6 Santa Monica, CA	2.0	2.0	960	$2,765	$2.88	73d	1	0.14mi
1823 11th St #5 Santa Monica, CA	2.0	2.5	1500	$4,495	$3.00	13d	1	0.18mi
1301 Michigan Ave Santa Monica, CA	2.0	1.0	—	$3,595	—	4d	1	0.18mi
1904 11th St Unit 8 Santa Monica, CA	2.0	1.0	726	$3,500	$4.82	25d	1	0.18mi
1908 11th St Unit 5 Santa Monica, CA	2.0	2.0	1000	$2,975	$2.98	0d	1	0.19mi
1844 16th St Unit D Santa Monica, CA	2.0	1.0	800	$3,995	$4.99	36d	1	0.21mi
1844 16th St Santa Monica, CA	2.0	2.0	1000	$5,295	$5.29	70d	1	0.21mi
1844 16th St Santa Monica, CA	2.0	2.0	1000	$5,295	$5.29	57d	1	0.21mi
1844 16th St Santa Monica, CA	2.0	1.0	800	$3,995	$4.99	32d	1	0.21mi
1863 10th St Unit 031M Santa Monica, CA	2.0	2.0	—	$3,250	—	93d	1	0.21mi
1024 Pico Blvd Unit 1 Santa Monica, CA	1.0	1.0	681	$2,275	$3.34	42d	1	0.22mi
1828 16th St Unit 01 Santa Monica, CA	1.0	1.0	—	$2,200	—	73d	1	0.23mi
1828 16th St Unit 01 Santa Monica, CA	1.0	1.0	550	$2,200	$4.00	42d	1	0.23mi
1828 16th St Unit 6 Santa Monica, CA	1.0	1.0	—	$2,200	—	93d	1	0.23mi
1824 16th St Unit 8 Santa Monica, CA	1.0	1.0	600	$2,250	$3.75	30d	1	0.23mi
1010 Pico Blvd Unit 10 Santa Monica, CA	1.0	1.0	600	$2,195	$3.66	73d	1	0.24mi
1840 10th St Unit B Santa Monica, CA	1.0	1.0	—	$2,000	—	9d	1	0.26mi
1840 10th St Unit C Santa Monica, CA	—	1.0	400	$1,700	$4.25	8d	1	0.26mi
1846 10th St Unit K Santa Monica, CA	1.0	1.0	594	$2,995	$5.04	93d	1	0.27mi
1836 10th St Unit D Santa Monica, CA	2.0	1.0	815	$3,250	$3.99	67d	1	0.27mi
1808 10th St #6 Santa Monica, CA	1.0	1.0	550	$2,100	$3.82	93d	1	0.29mi
1808 10th St Unit 5 Santa Monica, CA	—	1.0	600	$1,650	$2.75	4d	1	0.29mi
1007 Pacific St Apt A Santa Monica, CA	2.0	1.0	1300	$4,650	$3.58	71d	1	0.31mi

Listing history 50 events

1. 2026-08-08
   days on market $1,795,000 Active 495 DOM
2. 2026-08-06
   days on market $1,795,000 Active 493 DOM
3. 2026-08-05
   days on market $1,795,000 Active 492 DOM
4. 2026-08-04
   days on market $1,795,000 Active 491 DOM
5. 2026-08-03
   days on market $1,795,000 Active 490 DOM
6. 2026-07-31
   days on market $1,795,000 Active 487 DOM
7. 2026-07-30
   days on market $1,795,000 Active 486 DOM
8. 2026-07-30
   days on market $1,795,000 Active 485 DOM
9. 2026-07-28
   days on market $1,795,000 Active 484 DOM
10. 2026-07-26
    days on market $1,795,000 Active 482 DOM
11. 2026-07-24
    days on market $1,795,000 Active 480 DOM
12. 2026-07-23
    days on market $1,795,000 Active 479 DOM
13. 2026-07-22
    days on market $1,795,000 Active 478 DOM
14. 2026-07-21
    days on market $1,795,000 Active 477 DOM
15. 2026-07-20
    days on market $1,795,000 Active 476 DOM
16. 2026-07-18
    days on market $1,795,000 Active 474 DOM
17. 2026-07-18
    days on market $1,795,000 Active 473 DOM
18. 2026-07-16
    days on market $1,795,000 Active 472 DOM
19. 2026-07-15
    days on market $1,795,000 Active 471 DOM
20. 2026-07-14
    days on market $1,795,000 Active 470 DOM
21. 2026-07-13
    days on market $1,795,000 Active 469 DOM
22. 2026-07-13
    days on market $1,795,000 Active 468 DOM
23. 2026-07-11
    days on market $1,795,000 Active 467 DOM
24. 2026-07-10
    days on market $1,795,000 Active 466 DOM
25. 2026-07-09
    days on market $1,795,000 Active 465 DOM
26. 2026-07-07
    days on market $1,795,000 Active 463 DOM
27. 2026-07-06
    days on market $1,795,000 Active 462 DOM
28. 2026-07-06
    days on market $1,795,000 Active 461 DOM
29. 2026-07-05
    days on market $1,795,000 Active 460 DOM
30. 2026-07-03
    days on market $1,795,000 Active 459 DOM
31. 2026-07-02
    days on market $1,795,000 Active 458 DOM
32. 2026-07-01
    days on market $1,795,000 Active 457 DOM
33. 2026-06-30
    days on market $1,795,000 Active 456 DOM
34. 2026-06-29
    days on market $1,795,000 Active 455 DOM
35. 2026-06-28
    days on market $1,795,000 Active 454 DOM
36. 2026-06-27
    days on market $1,795,000 Active 453 DOM
37. 2026-06-26
    days on market $1,795,000 Active 452 DOM
38. 2026-06-24
    days on market $1,795,000 Active 450 DOM
39. 2026-06-22
    days on market $1,795,000 Active 448 DOM
40. 2026-06-21
    days on market $1,795,000 Active 447 DOM
41. 2026-06-18
    days on market $1,795,000 Active 444 DOM
42. 2026-06-17
    days on market $1,795,000 Active 443 DOM
43. 2026-06-16
    days on market $1,795,000 Active 442 DOM
44. 2026-06-15
    days on market $1,795,000 Active 441 DOM
45. 2026-06-13
    days on market $1,795,000 Active 439 DOM
46. 2026-06-13
    days on market $1,795,000 Active 438 DOM
47. 2026-06-09
    days on market $1,795,000 Active 435 DOM
48. 2026-06-08
    days on market $1,795,000 Active 434 DOM
49. 2026-06-07
    days on market $1,795,000 Active 433 DOM
50. 2026-06-04
    days on market $1,795,000 Active 430 DOM

ⓘ 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: $192,444
• − Mortgage interest: −$100,548
• − Property taxes: −$26,925
• − Insurance: −$8,975
• − Repairs & maintenance: −$15,396
• − Management: −$15,396
• − Depreciation: −$52,218
• Taxable loss: −$27,013
• Est. tax savings @ 24.0%: +$6,483
• After-tax cash flow: $9,656/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 Est. rehab $22,410–$67,230 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Will Rogers Elementary Middle John Adams Middle High Santa Monica High

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

B Composite livability gradescore 72/100

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 · 10,940,515 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: 10% of renters

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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%

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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%

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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: —
• Metro: —
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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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