1423 Cloverfield Blvd, Santa Monica, CA 90404

Jan 30

Written By Jake Glaser

Triplex in Prime Santa Monica | Sold to Owner-User Buyer

Sold: $1,575,000

Property Highlights

Extensively rehabbed triplex in prime Santa Monica
Larger unit downstairs opens to serene backyard
Sold to owner-user who will occupy one of the upstairs units
Seller exiting California multifamily market for out-of-state 1031 exchange
Buyer paid all commissions, escrow and title fees
Both upstairs 1+1 units have all new stainless steel appliances, washer/dryer and A/C
2,459 total SqFt on 2,896 SF lot
Perfect owner-user or investor opportunity
Two single car garages and 2 tandem parking spaces behind the building
ADU drawings available to convert garages into 300 SqFt attached unit
Prime location in close proximity to Schader Park, Bay Club Gym, Whole Foods, LA Metro, etc.

The Deal Story

The Glaser Group is proud to announce the successful closing of 1423 Cloverfield Blvd in Santa Monica, CA — a three-unit multifamily asset with large 1-bed/1-bath layouts, one of which was delivered vacant. This marks our 25th closing of 2025.

The property sold for $1,575,000, equating to $525,000 per unit, $640.50 per square foot, at a 4.68% Cap Rate and 14.77 GRM. Each unit is individually metered for gas, water, and electricity, and features modern upgrades including stainless steel appliances, in-unit washer/dryer, and air conditioning. Additional amenities include two garages and gated parking behind the building.

The Seller has been a longtime client of The Glaser Group, entrusting us once again after we successfully marketed and sold all of their other Santa Monica apartment buildings. This deal marks our 4th transaction with this Seller in 2025 alone.

The Buyers, local Southern California investors, originally engaged with us through another Westside listing. With a goal of securing an owner-user unit for their son while adding a Santa Monica trophy asset to their portfolio, we guided them to the perfect fit at Cloverfield.

The Glaser Group represented both parties, ensuring a seamless and on-schedule closing — with the Buyer covering all commissions and closing costs.

In today’s market, relationships and precision make all the difference. The Glaser Group continues to deliver results that align with client goals and unlock value at every stage of the deal. Contact us at 310-230-5157 if you'd like to discuss a similar sale or explore a 1031 exchange.