1124 7th Street, Santa Monica, California 90403, Santa Monica, 90403 - 2 bed, 2 bath
ACTIVE$3,740,000
1124 7th Street, Santa Monica, California 90403
2Beds
2Baths
1,256Sqft
7,513Lot
Year Built
1907
Close
-
List price
$3.74M
Original List price
$3.95M
Price/Sqft
$2,978
HOA
-
Days on market
-
Sold On
-
MLS number
25541433
Home ConditionTear down
Features
Good View:
View
About this home
We found 3 Cons,5 Pros. Rank: price - $3.74M(53th), sqft - 1256(13th), beds - 2(20th), baths - 2(33th).
Unbeatable location in the heart of Santa Monica! This exceptional development site comes with an APPROVED Vesting Tentative Map and has already received clearance from the Historical Board ready for your building permit. Plans call for four spacious townhomes, each approximately 2,500 sq ft with 2 bedrooms, 2 bathrooms, a bonus room, and private 2-car parking. An outstanding chance to build in one of LA's most desirable coastal neighborhoods, just minutes from the beach, top-tier shopping, dining, and everything Santa Monica has to offer. Approved architectural plans are available to qualified buyers upon request.
Nearby schools
8/10
Roosevelt Elementary School
Public,•K-5•0.5mi
9/10
Franklin Elementary School
Public,•PK-5•1.4mi
8/10
Lincoln Middle School
Public,•6-8•0.6mi
8/10
Santa Monica High School
Public,•9-12•1.0mi
Price History
Date
Event
Price
10/01/25
Price Change
$3,740,000
05/19/25
Listing
$3,950,000
04/18/19
Sold
$2,550,000
02/25/14
Sold
$1,221,000
Condition Rating
Tear down
The property was built in 1907, making it over 100 years old. The listing explicitly states it is a 'development site' with approved plans for new townhomes, and the property analysis notes 'Demolition Required' for the existing structure. There are no interior images, and the focus is entirely on the land's redevelopment potential, indicating the current structure is considered unlivable and beyond repair for its intended use as a development site.
Pros & Cons
Pros
Exceptional Location: Prime Santa Monica address, minutes from the beach, upscale shopping, and dining, ensuring high demand and value for the developed units.
Advanced Development Approvals: Features an APPROVED Vesting Tentative Map and Historical Board clearance, significantly streamlining the building permit process and reducing development risk.
High-Value Project Scope: Approved plans for four spacious 2,500 sq ft townhomes with desirable layouts and private parking, maximizing potential return on investment.
Reduced Development Hurdles: Pre-approved plans and historical clearance mitigate common development challenges, saving considerable time and resources for the buyer.
Strong Market Demand: Located in one of LA's most desirable coastal neighborhoods, guaranteeing robust buyer interest for the completed luxury townhomes.
Cons
Demolition Required: The existing 1907 structure will likely require demolition, incurring additional costs and time before new construction can commence.
Significant Capital Outlay: The high list price combined with substantial construction costs for four luxury units demands a considerable initial investment.
Potential Overpricing: The property's current list price is above its estimated value and has seen a recent price reduction, suggesting it may be at the upper end of market expectations.