10-Unit Apartment Building with
For Sale
$2,800,000
1444 Euclid, Santa Monica, CA 90404
Built in 1958, this 10-unit multifamily property offers a mix of studios and one- and three-bedroom units with on-site parking.
Property Size6,248 SF
Lot Size0.17 Acres
Price / SF$448.14
Days on Market48
Property Features for 1444 Euclid
General Information
Standard status
Active
Size
6,248 SF
Total Parking Spaces
8
Lot size
0.17 Acres
Property subtype
MULTI_FAMILY
Additional Details
Cap Rate
5.75%
Multifamily Units
10
Building Details
Building Size
6,248 SF
Year Built
1958
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
Listed By:
Brett Lyon · License #01717818
(310) 425-9838
Source:
Jademillsestates
Added: Jul 23
Changed: Aug 28
Last Checked: Sep 8 at 10:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lyon Stahl Investment Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 10-unit apartment building was built in 1958 and includes two non-conforming units. The unit mix consists of one 3-bedroom/2-bath unit, eight 1-bedroom/1-bath units, and three studio units. On-site parking is available with three one-car garages, five carport parking spaces, and additional driveway space.
Located in Santa Monica, the property provides convenient access to Downtown Santa Monica, the Third Street Promenade, Santa Monica Beach, and major employment centers, along with nearby shopping and dining.
The offering represents a multifamily acquisition with in-place income and an investor-oriented return profile, with a stated current CAP rate of 5.75% and current GRM of 11.24.
Located in Santa Monica, the property provides convenient access to Downtown Santa Monica, the Third Street Promenade, Santa Monica Beach, and major employment centers, along with nearby shopping and dining.
The offering represents a multifamily acquisition with in-place income and an investor-oriented return profile, with a stated current CAP rate of 5.75% and current GRM of 11.24.
Key Highlights
- 10‑unit apartment building built in 1958 with approximately 6,248 SF on a 7,495 SF lot
- Unit mix includes one 3BD/2BA, eight 1BD/1BA, and three studio units (plus two non‑conforming units)
- Parking includes three one‑car garages, five carport spaces, and additional driveway space for tenant parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$100,535
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,010,700
$2.0M
Cap Rate 7%
$1,436,214
$1.4M
Cap Rate 9%
$1,117,056
$1.1M
Market Conditions
NOI Build-Up for 6,248 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$198.7K $31.80/SF
− Vacancy
−$15.9K −$2.54/SF
EGI
$182.8K $29.26/SF
− OpEx
−$82.3K −$13.17/SF
NOI
$100.5K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,010,700
Cap Rate 7%
$1,436,214
Cap Rate 9%
$1,117,056
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,535 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.90M
NOI $234,161 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
9,244
Businesses Nearby
Explore this area
Business Placement
Demographics for 90404, CA
21,995
Population
11,499
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
10,998
Density / Sq Mi
$85,081
Median Household Income
$66,349
Median Earnings
$2,095
Median Rent
$1,159,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1958, this 10-unit multifamily property offers a mix of studios and one- and three-bedroom units with on-site parking.
Where is this apartment building located?
The property is located at 1444 Euclid Santa Monica, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 10‑unit apartment building built in 1958 with approximately 6,248 SF on a 7,495 SF lot; Unit mix includes one 3BD/2BA, eight 1BD/1BA, and three studio units (plus two non‑conforming units); Parking includes three one‑car garages, five carport spaces, and additional driveway space for tenant parking
