1040 4th 203, Santa Monica, California 90403, Santa Monica, 90403 - 2 bed, 3 bath
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1040 4th 203
Santa Monica, California 90403
ACTIVE
CONDITION: FAIR
2Beds
3Baths
1,743Sq Ft
30,033Lot Size
Property Price
LIST PRICE$1,550,000
EST. MARKET VALUE
$1,528,820
SUMMARY
This Spacious Corner Condominium represents a Strong Value Opportunity, listed at $1,680,000—positioned above the $1,599,745 Fair Market Value. While priced at a premium, the property offers a Condition Rating of 4, featuring a 1,743 sq. ft. layout with three private balconies and rare three-car parking. Located in a premier Santa Monica neighborhood near top-rated schools like Franklin Elementary (9/10), this residence provides an elevated coastal lifestyle. It is an ideal acquisition for Owner-Occupants seeking a prestigious address or discerning professionals prioritizing location and amenities.
Estimated Market Value
$1,528,820
Based on Realkey algorithm analyzing recent comparable sales in Santa Monica.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1040 4th 203 Subject | $1,550,000* List Price | 2 | 3 | 1,743 | $877 | - |
A 928 7th Street 3 Sold | $1,380,000 | 3 | 3 | 1,590 | $868 | 0.3 mi |
B 832 15th Street 4 Sold | $1,784,000 | 2 | 3 | 1,683 | $1,060 | 0.9 mi |
C 1207 California Avenue Sold | $1,580,000 | 3 | 3 | 1,740 | $908 | 0.6 mi |
D 915 12th Street 2 Sold | $1,760,000 | 2 | 3 | 1,641 | $1,073 | 0.7 mi |
E 1013 16th Street 104 Sold | $1,425,000 | 3 | 3 | 1,701 | $838 | 1.0 mi |
F 1133 9th Street 102 Sold | $1,513,000 | 2 | 2 | 1,410 | $1,073 | 0.4 mi |
G 1043 11th Street 3 Active | $1,799,000 List Price | 2 | 3 | 1,777 | $1,012 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1990 (34+ years old), the property is well-maintained but significantly dated. While the listing mentions a 'refresh' with new carpet and modern appliances, the kitchen and bathrooms feature original 1990s-style cabinetry, white tile countertops, and gold-tone fixtures. The central HVAC is a plus, but the core aesthetic and finishes require updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Franklin Elementary School (9/10).
- Prime Coastal Location
Situated in one of Santa Monica's most coveted neighborhoods, this property offers exceptional walkability to Montana Avenue, the 3rd Street Promenade, and the beach, ensuring high long-term desirability.
- Exceptional Parking and Storage
The unit includes three side-by-side parking spaces and private on-site storage, a rare and highly valuable asset for a condominium in a high-density coastal area.
CONSRISKS & DEFICIENCIES
- High Association Fees
The monthly HOA fee of $1,412.83 is substantial and may be a deterrent for buyers sensitive to high recurring carrying costs.
- Dated Building Era
Built in 1990, the property may require additional interior modernization beyond the recent 'refresh' to align with the contemporary luxury standards expected at this price point.
About 1040 4th 203
Rare opportunity to own this corner residence, offered for the first time since the prestigious Dorchester House was built. Ideally located in one of Santa Monica's most desirable neighborhoods, just moments from Montana Avenue, the 3rd Street Promenade, Ocean Avenue, and the beach. This refreshed 2BR/2.5BA home offers approximately 1,743 sq. ft. of bright living space with new carpet, fireplace, and three French doors opening to two private balconies overlooking a tree-lined street. The kitchen features custom countertops, designer tile, modern appliances, abundant storage, and a breakfast nook. Spacious primary suite with two walk-in closets plus an additional closet, double vanities, jacuzzi tub, and separate shower. Additional highlights include central HVAC, in-unit laundry, three side-by-side parking spaces, and private on-site storage. The community amenities include an indoor pool, spa, sauna, fitness center, and elegant lobby.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1990
- Lot Size
- 30,033 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $1412.83 / Month
Neighborhood Insights
Santa Monica Unified Schools
Roosevelt Elementary School
Grades K-5 • 0.5 mi
8/10
Franklin Elementary School
Grades PK-5 • 1.6 mi
9/10
Lincoln Middle School
Grades 6-8 • 0.9 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,743 | 1,332.636 |
| Lot Size | 30,033 | 8,171.182 |
| Price | $1.55M | $1.30M |
| Price per sq ft | $889 | $979 |
| Built year | 1990 | 1976 |
| HOA | $1412.83 | $553 |
| Days on market | 39 | 57 |
Pricing History
Listed for Sale
Sep 8, 2026
$1,550,000
$1,599,900
-3% Price Drop
Initial Listing
Price Change
Aug 25, 2026
$1,599,900
$1,680,000
-5% Price Drop
Initial Listing
Price Change
Aug 1, 2026
$1,680,000
Initial Listing