2002 4th Street 111, Santa Monica, California 90405, Santa Monica, 90405 - 2 bed, 2 bath
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2002 4th Street 111
Santa Monica, California 90405
ACTIVE
CONDITION: POOR
2Beds
2Baths
961Sq Ft
25,990Lot Size
Property Price
LIST PRICE$799,000
EST. MARKET VALUE
$906,101
11% BelowMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $799,000—positioned well below the $906,101 Fair Market Value by 11%. This valuation gap offers $107,101 in Instant Equity for buyers willing to execute a comprehensive renovation. With a Condition Rating of 5, the unit requires a full rehab, but its elevated corner positioning and pool views provide significant upside. This is a value-add asset ideal for Fix-and-Flip Investors or Contractors seeking a prime Santa Monica location.
Estimated Market Value
$906,101+$107,101 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Santa Monica.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2002 4th Street 111 Subject | $799,000* List Price | 2 | 2 | 961 | $943 | - |
A 2045 4th Street 301b Sold | $730,000 | 1 | 1 | 699 | $1,044 | 0.1 mi |
B 2002 4th Street 208 Active | $599,000 List Price | 1 | 1 | 864 | $693 | - |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1962 and explicitly marketed as a 'fixer' for investors, this unit shows no signs of renovation in over 50 years. The kitchen is missing appliances and has original cabinetry, the bathroom is severely dated, and the flooring is heavily worn, requiring a complete rehab to be move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated in a highly sought-after Santa Monica neighborhood, the property is within walking distance to the beach, Main Street shops, and the Third Street Promenade, ensuring long-term desirability.
- Significant Equity Potential
Priced under $800,000 as a fixer-upper, this unit offers a rare value-add opportunity for investors or DIYers to build immediate equity in a high-demand market.
- Optimal Corner Positioning
As an elevated corner unit with three sides of exposure, the property benefits from enhanced natural light and pleasant views of the pool and sundeck compared to interior units.
CONSRISKS & DEFICIENCIES
- Extensive Renovation Required
The property is in 'fixer' condition, necessitating a substantial additional investment in time and capital to make the space habitable or competitive with renovated units.
- High Monthly Carrying Costs
The association fee of $721 per month is relatively high for a sub-1,000 square foot unit, which may impact the overall affordability and net ROI for investors.
About 2002 4th Street 111
Bring your investors, contractors and DIYers to this beach-close fixer opportunity at Bay West Condominiums! Highly elevated first floor corner unit with 3 sides exposure with view of pool & sundeck. Don't wanna fix it? Looking for something already done? Then check out Unit 211 directly above - it's BEAUTIFULLY renovated @ only $899,000. See MLS# 26-633181. Building amenities include pool, sundeck, controlled access front entrance, gated parking, bike storage room, professional property management and earthquake insurance. The unit is a quick walk to Santa Monica High School and is in close proximity to Third Street Promenade, Main Street shops, dining, night life, bike path and the beach! Come explore this rare opportunity to get a be a unit like this under 800k!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1962
- Lot Size
- 25,990 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $721.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 961 | 1,332.636 |
| Lot Size | 25,990 | 8,171.182 |
| Price | $799.0K | $1.30M |
| Price per sq ft | $831 | $979 |
| Built year | 1962 | 1976 |
| HOA | $721.0 | $553 |
| Days on market | 26 | 57 |
Pricing History
Listed for Sale
Aug 14, 2026
$799,000
Initial Listing