1124 7th Street, Santa Monica, California 90403, Santa Monica, 90403 - 2 bed, 1 bath
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Santa Monica, California 90403
This High-Potential Development Asset commands a $3,395,000 list price, positioned near its $3,331,044 Fair Market Value due to the significant land value and entitlement progress. Featuring a 7,513 sqft flat lot and approved architectural plans by Howard Laks, the property offers immense redevelopment upside beyond its current Condition Rating of 4. Residents enjoy a private deck, distant ocean views, and access to top-tier schools like 9-rated Franklin Elementary and Lincoln Middle School. This is a premier coastal opportunity for Luxury Developers or Custom Home Builders seeking a high-value Santa Monica project.
Property is moderate renovation needed.
Built in 1907, this Craftsman home appears well-maintained and livable, featuring original wood trim and hardwood flooring. However, it is functionally outdated with only one bathroom and likely aged systems. The listing's heavy emphasis on redevelopment potential and the absence of kitchen or bathroom photos suggest these areas require modernization to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7513, living area = 1256.
Elementary School: Franklin Elementary School (9/10).
Situated in the heart of Santa Monica, the property offers immediate proximity to the beach, luxury shopping, and world-class dining in one of LA's most coveted neighborhoods.
Given the 1907 construction date, the home likely requires significant capital investment to update major systems and interior finishes to modern standards.
The current configuration of only one bathroom for a two-bedroom plus loft residence is insufficient for the $3.395M price point and modern buyer expectations.
The listing price is heavily weighted toward land value and development potential, resulting in a high cost basis for the existing 1,256 square feet of living space.
Unbeatable location in the heart of Santa Monica! This craftsman 2 bed plus loft SFR residence is located on a large flat lot 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. Property may be enjoyed as-is or offers excellent redevelopment potential. There are Proposed approved architectural plans by Architect Howard Laks and are available to qualified buyers upon request.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades PK-5 • 1.4 mi
Grades 6-8 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 38% |
| Baths | 1.0 | 3.0 | 19% |
| Square foot | 1,256 | 1,920.5 | 13% |
| Lot Size | 7,513 | 7,857.5 | 38% |
| Price | $3.40M | $3.36M | 50% |
| Price per sq ft | $2.7K | $1.8K | 94% |
| Built year | 1907 | 1937 | 6% |
| HOA | $0 | $0 | 50% |
| Days on market | 90 | 158 | 31% |
Jan 22, 2026
$3,395,000
Initial Listing
Apr 18, 2019
$2,550,000
Public Record
Feb 25, 2014
$1,221,000
Public Record