
Santa Monica, California 90403
This North of Wilshire Condominium represents a Strong Value Opportunity, listed at $799,000—positioned well below the $892,720 Fair Market Value by 10%. This valuation gap offers $93,720 in Instant Equity. While the unit maintains a Condition Rating of 4, its 1,474 sqft layout, EV-ready parking, and location within the Santa Monica-Malibu Unified School District provide significant long-term stability. This residence is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a prime coastal lifestyle with immediate value.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1040 4th Street 106 Subject | $799,000* List Price | 2 | 2 | 1,474 | $606 | - |
A 901 10th Street 307 Sold | $650,000 | 2 | 2 | 1,267 | $513 | 0.5 mi |
B 1131 12th Street 104 Sold | $890,000 | 2 | 2 | 1,394 | $638 | 0.7 mi |
C 1021 12th Street 102 Active | $799,000 List Price | 2 | 2 | 1,337 | $598 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1990 (34 years old) and appears to maintain most of its original finishes. While the unit is clean and functional with updated laminate flooring and central HVAC, the kitchen and bathrooms are dated, featuring 1990s-era white tile countertops and brass fixtures that exceed the 20-year threshold for modern updates.
Elementary School: Franklin Elementary School (9/10).
Situated North of Wilshire in a highly desirable Santa Monica neighborhood, this property offers immediate proximity to Montana Avenue, the Third Street Promenade, and the beach.
The unit features a spacious 1,474 sqft open-concept layout, central HVAC, in-unit laundry, and two side-by-side parking spaces equipped with a rare EV charging outlet.
The property is subject to deed restrictions, which typically involve income limits or resale price controls that can significantly limit the pool of eligible buyers and future appreciation.
At $1,001.25 per month, the association fees are relatively high, increasing the total monthly carrying costs and potentially impacting buyer affordability.
Experience the best of Santa Monica living in this spacious single-level 2-bedroom, 2-bathroom condominium offering 1,474 square feet at the prestigious Dorchester House, a well-maintained building built in 1990. This bright, front-facing residence enjoys abundant natural light, with all main windows overlooking a beautiful tree-lined street. Designed for comfortable everyday living and effortless entertaining, the open-concept floor plan features a kitchen that opens to a spacious living room and dining area, creating an inviting space for gatherings. The expansive primary suite offers a large walk-in closet and a luxurious en-suite bathroom complete with a soaking tub, separate shower, and dual vanities. The generously sized second bedroom also features a walk-in closet. Additional highlights include abundant storage with plenty of closets throughout, laminate and tile flooring, central air and heat, and an in-unit laundry closet with an LG washer and dryer. The home includes two gated, secure side-by-side parking spaces equipped with an EV charging outlet. Ideally located in the highly acclaimed Santa Monica-Malibu Unified School District, this exceptional residence is just moments from Montana Avenue, the Third Street Promenade, Palisades Park, and Santa Monica State Beach. Enjoy world-class dining, shopping, entertainment, parks, convenient public transportation, and close proximity to the California Incline, providing easy access to the beach, oceanfront boardwalk, and scenic bike path. This is North of Wilshire beach-city living at its finest. Deed restriction applies. Please contact the listing agent for details.
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 | 1,474 | 1,346 |
| Lot Size | 30,033 | 7,869 |
| Price | $799.0K | $1.33M |
| Price per sq ft | $542 | $977 |
| Built year | 1990 | 1978 |
| HOA | $1001.25 | $500 |
| Days on market | 6 | 57 |
Jul 16, 2026
$799,000
Initial Listing