Description
1311 Euclid Street is a beautifully renovated 11-unit apartment building in Prime Santa Monica, just south of Wilshire. Boasting an incredible unit mix of large 3-bedrooms, mostly 2-bedrooms, and 1-bedroom units. Almost every unit has been extensively remodeled with modern flooring and fixtures, waterfall quartz counter tops, and beautiful accent wall designs and kitchen lighting. On top of the building's clean condition, the price metrics the most attractive of any multi-family property in Santa Monica: 13.99 GRM, 4.65% cap rate, $515,455/ unit, and $546.03/SF. There is still 20% upside remaining in the rents. There is also an optional loan that can be assumed: $2,660,000 at a fixed rate of 4.56% until 2025. The loan is not due in full until 2048. The building is fully occupied, so please do not disturb the tenants. For a detailed OM please email the listing agents.
Location
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Listing Agent: Chase Simonton
Listing Office: RE/MAX One
Attribution contact:
