1040 4th Street 107, Santa Monica, California 90403, Santa Monica, 90403 - 2 bed, 2 bath
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Santa Monica, California 90403
This Strong Value Opportunity is a 2-bedroom corner unit listed at $595,000—positioned well below the $651,993 Fair Market Value by 8%. This valuation gap provides $56,993 in Instant Equity. With a Condition Rating of 4, the property requires modernization, offering significant upside for value-add renovations. Located four blocks from the ocean near Top-Rated Schools like Franklin Elementary, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a prime Santa Monica location with long-term appreciation potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1040 4th Street 107 Subject | $545,000* List Price | 2 | 2 | 1,346 | $405 | - |
A 901 10th Street 307 Sold | $650,000 | 2 | 2 | 1,267 | $513 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1990, the property is 36 years old, placing it in the dated category. While the exterior of the Dorchester House appears well-maintained, the interior and core systems are likely original and require modernization of the kitchen and bathrooms to meet current market standards.
Elementary School: Franklin Elementary School (9/10).
Situated just four blocks from the ocean and within walking distance to the Third Street Promenade, this property offers an elite Santa Monica lifestyle with immediate access to world-class dining and shopping.
Boasting 1,346 square feet, this 2-bedroom corner unit provides a generous floor plan that offers more privacy and natural light than standard interior units.
The property is subject to deed restrictions and is tenant-occupied, which likely limits the pool of eligible buyers and may constrain future resale value and appreciation.
The association fee of $965 per month is substantial, significantly increasing the monthly overhead and potentially impacting the overall affordability for budget-conscious buyers.
Spacious 2+2 unit, corner unit. shared sun deck. 4 blocks from the ocean, walking distance to the Third Street Promenade. Tenant occupied with Deed Restrictions. See Agent Remarks.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades PK-5 • 1.6 mi
Grades 6-8 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,346 | 1,346 |
| Lot Size | 30,033 | 7,869 |
| Price | $545.0K | $1.33M |
| Price per sq ft | $405 | $977 |
| Built year | 1990 | 1978 |
| HOA | $965.0 | $500 |
| Days on market | 84 | 57 |
Jul 16, 2026
$545,000
$595,000
-8% Price Drop
Initial Listing
Apr 29, 2026
$595,000
Initial Listing
Jul 18, 2002
$86,000
Public Record
Sep 9, 1996
$86,000
Public Record