1923 Euclid Street

Description

We are excited to offer 1923 Euclid St, a prime infill development site in Santa Monica, CA. This 7,500-square-foot parcel, zoned SMR2*, is strategically located just 1.2 miles from world-class beaches and only a 6-minute walk from the main campus of Santa Monica College. The property benefits from its proximity to significant development projects, with over 1,000 new apartment units either planned or under construction nearby, including a notable 280-unit mixed-use complex by Related California. Additionally, major office property is being planned at 1630 Euclid, which is expected to further increase demand from local business owners and professionals. Santa Monica's median home sale prices consistently exceed $1,900,000, highlighting the potential value of this vacant site. An owner-user could design a multi-unit building, living in one unit while renting out others to generate passive income. The site features convenient front access along Euclid St and rear alley access on the east side, situated on a quiet street with a mix of condominiums, single-family homes, and multifamily residences. This creates an ideal balance of a tranquil beach town atmosphere and an eclectic city environment. Moreover, the property offers exceptional accessibility to the 10 freeway and Metro Expo Line, ensuring swift connections to major employment centers from the west side to downtown Los Angeles. It is also close to local amenities, including Bay Cities Italian Deli and Bakery, Memorial Park, Shutters on the Beach Hotel, and an array of cafes and restaurants along Pico Blvd. Developing a multi-unit structure at 1923 Euclid St presents a compelling investment opportunity. With favorable zoning, high rental demand, and a prime location, the property is a rare opportunity to own a well sized site at an exceptional $217 per square foot.

Listing information courtesy of: Zachary Rosen, Marcus & Millichap 323-305-4374. *Based on information from the Association of REALTORS/Multiple Listing as of 11/29/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.