1121 Princeton Street 5, Santa Monica, California 90403, Santa Monica, 90403 - 2 bed, 3 bath

1121 Princeton Street 5
Santa Monica, California 90403
Property Price
SUMMARY
Analysis of 1121 Princeton Street 5, Santa Monica, California 90403 is currently available with a list price of $1,345,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Santa Monica Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1989, this townhouse is well-maintained and move-in ready, featuring hardwood floors and updated stainless steel kitchen appliances. However, the kitchen cabinets and backsplash are dated, and the primary bathroom's tile work and vanity are significantly outdated. The property also lacks central air conditioning, which is a notable drawback. While functional, it requires minor updates to modernize the aesthetics and improve comfort.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Santa Monica Location
Situated in the highly desirable 'college streets' North of Wilshire, this property offers unparalleled access to top-rated schools (Franklin Elementary), boutique shopping and dining on Montana Avenue, Douglas Park, Brentwood Country Mart, and is a short drive to the beach.
- Immediate Rental Income & Investment Potential
Currently leased through November 2026 at $3,850/month, providing guaranteed rental income for investors or a planned future primary residence, offering flexibility and financial stability.
- Desirable End Unit Townhouse Features
As an end unit, it offers enhanced privacy, a desirable layout with hardwood floors throughout, a private patio, and direct access to a communal yard, which is ideal for pet owners.
CONSRISKS & DEFICIENCIES
- Tenant Occupancy & Delayed Possession
The property is tenant-occupied with a lease extending through November 2026, which means an owner-occupant cannot take immediate possession, limiting the buyer pool to those willing to wait or investors.
- Lack of Central Air Conditioning
The property description does not mention a central cooling system, which could be a significant drawback during warmer months in Santa Monica, potentially requiring future installation.
- Potential for Dated Systems/Finishes
Built in 1989, while some updates like hardwood floors are mentioned, certain systems (e.g., plumbing, electrical, windows) or other finishes may be original or nearing the end of their lifespan, potentially requiring future investment for modernization or maintenance.
About 1121 Princeton Street 5
One or more photo(s) has been virtually staged. PRICE IMPROVEMENT. Seller is motivated and ready to move quickly for the right offer. Welcome to this 2-bedroom, 3-bathroom townhouse in a charming 5-unit Spanish-style building on a quiet, tree-lined street in the prestigious college streets of Santa Monica. Currently leased through November 2026 at $3,850/month, this property offers immediate rental income for investors or a future primary residence for buyers planning ahead. Ideally located blocks from top-rated schools and all the boutique shopping, cafes and restaurants that Montana Ave has to offer, not to mention, just a short drive to the beach! This end unit features a desirable layout with hardwood floors throughout. The kitchen opens to a combined dining and living area that flows to a private patio. As an end unit, the property backs directly onto a communal yard, perfect for pet owners seeking outdoor space. The main level includes a powder room and direct access to an enclosed two-car garage with ample storage and secure, gated entry exclusive to residents. Upstairs, the primary suite offers soaring ceilings and an en-suite bathroom with dual vanities, tile finishes, a spacious shower, and a soaking tub. The second bedroom includes its own en-suite bath. An upstairs laundry area adds convenience. Located North of Wilshire in the highly sought-after Franklin Elementary School boundary, just a stroll to Douglas Park, Montana Avenue, and the Brentwood Country Mart. This end-unit townhouse presents a rare opportunity in one of Santa Monica's most desirable neighborhoods whether as an income-producing investment or future dream home. Tenant-occupied with lease through November 2026. Showings available with 24-hour notice.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1989
- Lot Size
- 7,851 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $275.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,587 | 1,410 | 58% |
| Lot Size | 7,851 | 7,689 | 50% |
| Price | $1.34M | $1.40M | 48% |
| Price per sq ft | $848 | $984 | 18% |
| Built year | 1989 | 1976 | 72% |
| HOA | $275.0 | $600 | 2% |
| Days on market | 109 | 167 | 20% |
Pricing History
Listed for Sale
Jan 7, 2026
$1,345,000
$1,395,000
-4% Price Drop
Initial Listing
Price Change
Nov 17, 2025
$1,395,000
Initial Listing


















