1427 Euclid St · Santa Monica, CA 90404

$2,275,000

2 bd · 2.0 ba · 840 sqft · MultiFamily public records · 156 Days on market

Built 1949 7,483 sqft lot $2708/sqft · 304% above area Est $2323k · at est. ↓ 3% since listing

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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).

• Cash flow +17.2/30.0
• ARV discount +8.4/15.0
• Schools +6.2/10.0
• DSCR +5.4/10.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Appreciation +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

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

NOW PRICED AT AN IN PLACE 5.6% CAP RATE! 1427 Euclid Street presents a rare opportunity to acquire a high-performing 6-unit multifamily property in Santa Monica with meaningful ADU and income upside. The property features four detached bungalow units and two units above four garages, creating an exceptional layout for garage-to-ADU conversion. Upon completion of the ADUs, the property is projected to achieve an in-place 7.4% cap rate without factoring in any rent increases or unit upgrades. One of the garages is already generating $400 per month as a rented storage unit. The sellers have recently completed foundation upgrades, providing investors with confidence in the building's structural integrity and long-term durability. Located on a 7,483 SF R3-zoned lot, the property offers spacious units, strong existing cash flow, and multiple value-add pathways, including both ADU development and future rent growth. Situated just off Santa Monica Boulevard, residents enjoy excellent walkability and connectivity to major employers, retail, transit, and the beach, with convenient access to both freeways and Metro lines.

Key facts

• Foundation upgrades
• R3 zoned lot
• 7,483 sq ft lot

Tags

• 6 UNIT MULTIFAMILY PROPERTY
• FOUR DETACHED BUNGALOW UNITS
• GARAGE TO ADU CONVERSION
• FOUNDATION UPGRADES
• R3 ZONED LOT
• EXCELLENT WALKABILITY

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/8.0-bath units multifamily listed at $2.27M.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $269/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 $2.14M (5.9% below list).
• Recommended offer: $2.00M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $21,405/mo this rent would consume 270% 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 $16k of loan paydown is wiped out by about $68k 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 156 days — a 12% lower offer ($2.00M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask is 103545% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,002,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.94% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.04%
• DSCR: 1.14
• GRM: 8.9

CMA / ARV

• ARV (median comp): $2,323,429
• List price: $2,275,000
• Delta: -2.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.8%
• Equity multiple: 0.49×
• Total profit: $-327,347
• Equity at exit: $339,210

10-year hold

• IRR: -11.8%
• Equity multiple: 0.39×
• Total profit: $-390,489
• Equity at exit: $196,700

Cash invested: $637,000 (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: 53.1×

Monthly cashflow live

• Estimated rent: $21,405 high
• Mortgage (P&I): −$11,930
• Tax from tax record: −$2,418 /mo · $29,021/yr
• Insurance: −$948
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,495
• Net cashflow: $1,613

Break-even live

Break-even rent $19,363

Max offer price $2,275,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	8	$21,408
Total (6 units)			$21,405

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: $568,750
• Closing costs: $68,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1433 Euclid St Unit 9 Santa Monica, CA	2.0	1.0	600	$2,895	$4.83	43d	1	0.03mi
1418 14th St Santa Monica, CA	2.0	2.0	1000	$3,650	$3.65	43d	1	0.04mi
1433 14th St #3 Santa Monica, CA	2.0	2.0	1007	$4,995	$4.96	2d	1	0.09mi
1338 14th St Unit 104 Santa Monica, CA	2.0	2.0	1000	$3,180	$3.18	43d	1	0.10mi
1424 12th St Unit 1428-C-R Santa Monica, CA	2.0	1.5	850	$3,895	$4.58	43d	1	0.11mi
1424 12th St Unit 1424-B-R Santa Monica, CA	2.0	1.5	850	$3,695	$4.35	43d	1	0.11mi
1424 12th St Unit 1428-E-R Santa Monica, CA	2.0	1.5	850	$3,795	$4.46	43d	1	0.11mi
1424 12th St Unit 1428-H: R Santa Monica, CA	2.0	1.5	850	$3,595	$4.23	43d	1	0.11mi
1424 12th St Unit J Santa Monica, CA	1.0	1.0	635	$2,090	$3.29	24d	1	0.11mi
1428 12th St Unit H Santa Monica, CA	2.0	1.5	1100	$3,595	$3.27	43d	1	0.11mi
1428 12th St Apt E Santa Monica, CA	2.0	1.5	1100	$3,795	$3.45	43d	1	0.11mi
1444 15th St Unit 6 Santa Monica, CA	2.0	1.5	1000	$3,195	$3.19	24d	1	0.13mi
1317 Euclid St Unit 6 Santa Monica, CA	1.0	1.0	800	$2,450	$3.06	14d	1	0.13mi
1518 Euclid St Unit 1522-11 Santa Monica, CA	2.0	2.0	1000	$3,195	$3.19	7d	1	0.14mi
1417 11th St Santa Monica, CA	1.0	1.0	750	$2,095	$2.79	24d	1	0.14mi
1314 Euclid St Apt 11 Santa Monica, CA	2.0	1.0	1000	$2,895	$2.90	43d	1	0.14mi
1437 11th St Unit 5 Santa Monica, CA	1.0	1.0	650	$2,595	$3.99	43d	1	0.14mi
1437 11th St Unit 2 Santa Monica, CA	1.0	1.0	650	$2,495	$3.84	43d	1	0.14mi
1437 11th St Santa Monica, CA	1.0	1.0	616	$2,322	$3.77	43d	2	0.14mi
1423 15th St Unit 6 Santa Monica, CA	1.0	1.0	825	$2,095	$2.54	24d	1	0.16mi
1423 15th St Unit 5 Santa Monica, CA	2.0	1.0	825	$2,695	$3.27	7d	1	0.16mi
1543 Euclid St Santa Monica, CA	2.0	1.0	850	$3,550	$4.18	43d	1	0.17mi
1428 11th St Unit 10 Santa Monica, CA	1.0	1.0	700	$2,500	$3.57	10d	1	0.19mi
1428 11th St Unit 5 Santa Monica, CA	1.0	1.0	1000	$2,600	$2.60	24d	1	0.19mi
1438 11th St Unit B Santa Monica, CA	2.0	2.0	900	$3,800	$4.22	43d	1	0.19mi
1502 Broadway Santa Monica, CA	1.0	1.0	531	$3,464	$6.52	7d	7	0.20mi
1251 14th St Santa Monica, CA	2.0	2.0	1024	$3,598	$3.51	1d	3	0.20mi
1251 14th St Santa Monica, CA	2.0	2.0	1024	$3,622	$3.54	6d	2	0.20mi
1244 Euclid St Apt 7 Santa Monica, CA	1.0	1.0	799	$2,695	$3.37	7d	1	0.21mi
1543 11th St Unit D Santa Monica, CA	1.0	1.0	562	$2,898	$5.16	1d	1	0.23mi
1433 9th St Unit F Santa Monica, CA	2.0	1.0	750	$3,000	$4.00	43d	1	0.29mi
1437 17th St Unit B Santa Monica, CA	2.0	2.0	800	$4,500	$5.62	17d	1	0.30mi
1437 17th St Unit A Santa Monica, CA	2.0	1.0	800	$5,500	$6.88	17d	1	0.30mi
1417 17th St Apt D Santa Monica, CA	1.0	1.0	635	$2,395	$3.77	24d	1	0.31mi
1224 10th St Unit 1228-4 Santa Monica, CA	1.0	1.0	644	$2,125	$3.30	43d	1	0.36mi
1212 10th St Unit 15 Santa Monica, CA	1.0	1.0	700	$3,800	$5.43	24d	1	0.36mi
1212 10th St Santa Monica, CA	1.0	1.0	700	$3,800	$5.43	43d	1	0.36mi
1212 10th St Unit 12 Santa Monica, CA	1.0	1.0	700	$4,000	$5.71	10d	1	0.36mi
1212 10th St Unit 2 Santa Monica, CA	1.0	1.0	700	$3,900	$5.57	43d	1	0.36mi
1144 15th St Unit 7 Santa Monica, CA	1.0	1.0	650	$3,700	$5.69	43d	1	0.36mi

Listing history 31 events

1. 2026-06-18
   days on market $2,275,000 Active 156 DOM
2. 2026-06-17
   days on market $2,275,000 Active 155 DOM
3. 2026-06-16
   days on market $2,275,000 Active 154 DOM
4. 2026-06-15
   days on market $2,275,000 Active 153 DOM
5. 2026-06-13
   days on market $2,275,000 Active 151 DOM
6. 2026-06-13
   days on market $2,275,000 Active 150 DOM
7. 2026-06-09
   days on market $2,275,000 Active 147 DOM
8. 2026-06-08
   days on market $2,275,000 Active 146 DOM
9. 2026-06-07
   days on market $2,275,000 Active 145 DOM
10. 2026-06-04
    days on market $2,275,000 Active 142 DOM
11. 2026-06-03
    days on market $2,275,000 Active 141 DOM
12. 2026-06-02
    days on market $2,275,000 Active 140 DOM
13. 2026-06-01
    days on market $2,275,000 Active 139 DOM
14. 2026-05-31
    days on market $2,275,000 Active 138 DOM
15. 2026-05-04
    price $2,275,000 1128-char remark

    Show marketing remark (1128 chars)

    NOW PRICED AT AN IN PLACE 5.6% CAP RATE! 1427 Euclid Street presents a rare opportunity to acquire a high-performing 6-unit multifamily property in Santa Monica with meaningful ADU and income upside. The property features four detached bungalow units and two units above four garages, creating an exceptional layout for garage-to-ADU conversion. Upon completion of the ADUs, the property is projected to achieve an in-place 7.4% cap rate without factoring in any rent increases or unit upgrades. One of the garages is already generating $400 per month as a rented storage unit. The sellers have recently completed foundation upgrades, providing investors with confidence in the building's structural integrity and long-term durability. Located on a 7,483 SF R3-zoned lot, the property offers spacious units, strong existing cash flow, and multiple value-add pathways, including both ADU development and future rent growth. Situated just off Santa Monica Boulevard, residents enjoy excellent walkability and connectivity to major employers, retail, transit, and the beach, with convenient access to both freeways and Metro lines.

16. 2026-04-13
    historical $2,290
17. 2026-04-11
    price $2,290
18. 2026-03-21
    price $2,190
19. 2026-02-23
    listed $2,195
20. 2026-01-13
    listed $2,325,000 Active 1128-char remark

    Show marketing remark (1128 chars)

    NOW PRICED AT AN IN PLACE 5.6% CAP RATE! 1427 Euclid Street presents a rare opportunity to acquire a high-performing 6-unit multifamily property in Santa Monica with meaningful ADU and income upside. The property features four detached bungalow units and two units above four garages, creating an exceptional layout for garage-to-ADU conversion. Upon completion of the ADUs, the property is projected to achieve an in-place 7.4% cap rate without factoring in any rent increases or unit upgrades. One of the garages is already generating $400 per month as a rented storage unit. The sellers have recently completed foundation upgrades, providing investors with confidence in the building's structural integrity and long-term durability. Located on a 7,483 SF R3-zoned lot, the property offers spacious units, strong existing cash flow, and multiple value-add pathways, including both ADU development and future rent growth. Situated just off Santa Monica Boulevard, residents enjoy excellent walkability and connectivity to major employers, retail, transit, and the beach, with convenient access to both freeways and Metro lines.

21. 2026-01-01
    historical $3,695
22. 2025-12-18
    listed $3,695
23. 2025-12-15
    historical $3,795
24. 2025-12-05
    listed $3,795
25. 2024-11-14
    listed Active
26. 2024-06-24
    price
27. 2024-05-22
    listed Active
28. 2024-03-18
    soldstatus $2,220,000 Sold
29. 2024-02-02
    status Pending
30. 2023-09-28
    historical Backup Offers Accepted
31. 2023-09-12
    listed $2,350,000 Active

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

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $29,021 · $2,418/mo
• Projected year-2 tax: $29,021 · $2,418/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 20 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: $256,860
• − Mortgage interest: −$127,435
• − Property taxes: −$29,021
• − Insurance: −$11,375
• − Repairs & maintenance: −$20,549
• − Management: −$20,549
• − Depreciation: −$66,182
• Taxable loss: −$18,251
• Est. tax savings @ 24.0%: +$4,380
• After-tax cash flow: $23,739/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.

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

-3.2% since first listed

17 events — show timeline

• 2026-05-04 Price Changed $2,275,000 TheMLS
• 2026-04-13 Rental Removed $2,290 SHOWMOJO
• 2026-04-11 Price Changed $2,290 SHOWMOJO
• 2026-03-21 Price Changed $2,190 SHOWMOJO
• 2026-02-23 Listed for Rent $2,195 SHOWMOJO
• 2026-01-13 Listed $2,325,000 TheMLS
• 2026-01-01 Rental Removed $3,695 SHOWMOJO
• 2025-12-18 Listed for Rent $3,695 SHOWMOJO
• 2025-12-15 Rental Removed $3,795 APPFOLIO
• 2025-12-05 Listed for Rent $3,795 APPFOLIO
• 2024-11-14 Listed — TheMLS
• 2024-06-24 Price Changed — TheMLS
• 2024-05-22 Listed — TheMLS
• 2024-03-18 Sold (MLS) $2,220,000 TheMLS
• 2024-02-02 Pending — TheMLS
• 2023-09-28 Contingent — TheMLS
• 2023-09-12 Listed $2,350,000 TheMLS

Property tax history

+15.8%/yr

Latest (2025): $29,021 · +747.4% YoY. Source: county tax records.