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 However, it is functionally outdated with only one bathroom and likely aged systems.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.
Beautiful Craftsman residence in the prime Wilshire-Montana neighborhood of Santa Monica. Situated on a large flat lot north of Wilshire, this rare 2 bed plus loft, 2 bath single-family home is filled with character, natural light, and refreshing ocean breezes. Features include real hardwood floors throughout, stainless steel appliances, inside laundry, and charming living spaces that preserve the home's timeless appeal.The versatile loft space offers excellent flexibility for a home office, guest area, creative studio, or additional living space. Lushly landscaped front and back yards create a private and inviting outdoor setting, while the detached and spacious 2-car garage can also function as a workspace or art studio.Unbeatable location just minutes from the beach, Montana Avenue, Third Street Promenade, the Santa Monica Pier, parks, farmers markets, top-tier dining, shopping, and the renowned Proper Hotel. Located within the award-winning Roosevelt Elementary School district. Property may be enjoyed as-is or offers exceptional redevelopment potential. Proposed approved architectural plans by Architect Howard Laks are available to qualified buyers upon request.Buyer to independently verify all property information, including but not limited to square footage, permits, bed/bath count, and accuracy of all marketing information.
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 | 25% |
| Baths | 1.0 | 3.0 | 15% |
| Square foot | 1,256 | 1,824 | 10% |
| Lot Size | 7,513 | 7,864.5 | 40% |
| Price | $3.40M | $3.36M | 50% |
| Price per sq ft | $2.7K | $1.8K | 90% |
| Built year | 1907 | 1936 | 5% |
| HOA | $0 | $0 | 50% |
| Days on market | 135 | 138 | 50% |
Jan 22, 2026
$3,395,000
Initial Listing
Apr 18, 2019
$2,550,000
Public Record
Feb 25, 2014
$1,221,000
Public Record