1111 Berkeley Street, Santa Monica, California 90403, Santa Monica, 90403 - 3 bed, 2 bath
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Santa Monica, California 90403
This Prime Development Asset is listed at $3,275,000, representing a strategic acquisition in Santa Monica’s coveted North of Wilshire neighborhood. While positioned near its $3,119,142 Fair Market Value, the property’s true worth is anchored by the oversized 9,000 sq ft lot and a Condition Score of 6, signaling a primary candidate for a total teardown or major value-add project. Located in the elite Franklin School District near Montana Avenue, the site offers immense ROI potential for new construction. This is an ideal flagship project for Real Estate Developers and Luxury Custom Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1111 Berkeley Street Subject | $3,275,000* List Price | 3 | 2 | 1,762 | $1,770 | - |
A 939 25th St Sold | $2,900,000 | 2 | 1 | 1,746 | $1,661 | 0.5 mi |
B 2832 Washington Sold | $2,833,000 | 2 | 2 | 1,455 | $1,947 | 0.5 mi |
C 2832 Washington Avenue Sold | $2,675,000 | 2 | 2 | 1,455 | $1,838 | 0.2 mi |
D 917 Princeton Street Active Under Contract | $2,995,000 List Price | 3 | 2 | 1,712 | $1,749 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1936 (88 years old) with no evidence of major system or structural renovations. The listing explicitly markets the property for its 'exceptional upside potential' and the ability to 'build a custom dream home' on the large 9,000 sq ft lot, indicating the value is primarily in the land.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9000, living area = 1762.
Situated in one of Santa Monica's most coveted enclaves, the property boasts exceptional walkability to Montana Avenue’s upscale boutiques and premium grocers like Erewhon and Bristol Farms.
The oversized 9,000 sq ft lot offers a rare opportunity for investors or end-users to remodel, expand, or construct a custom luxury estate in a high-demand, supply-constrained market.
Built in 1936, the existing 1,760 sq ft structure likely requires substantial modernization or a complete rebuild to meet contemporary luxury standards and functional needs.
At a list price of $3.275M for a relatively small original home, the value is heavily weighted in the land, which may necessitate a large additional capital investment for development.
Located in the highly desirable North of Wilshire neighborhood between Montana Ave and Wilshire Blvd, 1111 Berkeley Street presents a rare opportunity to own in one of Santa Monica's most sought-after enclaves. Set on a generous 9,000 sq ft lot, this 1,760 sq ft property offers both comfortable living and exceptional upside potential. The home enjoys outstanding walkability, with Bristol Farms just walking distance, and Erewhon moments away, making everyday errands effortless while enhancing the coveted Westside lifestyle.Positioned within the award-winning Franklin School District, this location is ideal for families seeking access to top-tier education in a vibrant, community-oriented neighborhood. Tree-lined streets, proximity to Montana Ave's boutiques and cafs, and easy access to the beach further elevate the appeal.For investors, developers, or end-users, the expansive lot provides incredible potential to remodel, expand, or build a custom dream home in a prime Santa Monica location. Whether you're looking to create a personal residence or capitalize on development opportunities, this property offers the perfect blend of location, lifestyle, and long-term value.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 38% |
| Square foot | 1,762 | 1,920.5 | 44% |
| Lot Size | 9,000 | 7,880.5 | 81% |
| Price | $3.27M | $3.33M | 44% |
| Price per sq ft | $1.9K | $1.8K | 56% |
| Built year | 1936 | 1937 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 35 | 159 | 6% |
Mar 18, 2026
$3,275,000
Initial Listing