
Santa Monica, California 90404
This Santa Monica Quadruplex Asset is listed at $1,965,000—positioned well below the $1,988,465 Fair Market Value by 1%. This valuation gap offers $23,465 in Instant Equity. Boasting a Good Condition Rating, the property features three renovated units with Stainless Steel Appliances and Private Patios. The SMR2 Zoning on a rare Triple Corner Lot provides significant upside for ADU development or expansion. This strategic acquisition is ideal for Buy-and-Hold Investors or Owner-Occupants looking to leverage rental income in a prime coastal market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2117 Stewart Street Subject | $1,965,000* List Price | 0 | 0 | 2,544 | $782 | - |
A 2801 Virginia Sold | $1,600,000 | 0 | 0 | 2,187 | $732 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1941, the property is classified as 'Good' because three of the four units have undergone extensive recent renovations. These updates include modern stainless steel appliances, shaker-style cabinetry, quartz countertops, recessed lighting, and updated laminate flooring. The bathrooms in these units have been remodeled with contemporary tile and fixtures. Although one unit remains unrenovated and the building's exterior reflects its vintage age, the majority of the property is move-in ready and well-maintained.
The property features SMR2 zoning on a rare triple corner lot with separate metering for all four units, providing significant opportunities for ADU addition, redevelopment, or high-yield rental income.
Three of the four units have been extensively updated with new flooring, stainless steel appliances, and remodeled bathrooms, reducing immediate maintenance costs and allowing for premium rental rates.
Located on a desirable tree-lined street near Virginia Ave Park and major freeways, the property offers a blend of neighborhood charm and urban convenience that ensures high tenant desirability.
Originally built in 1941, the property may possess aging core systems or infrastructure typical of older builds, which could necessitate future capital improvements beyond the recent cosmetic updates.
With only three units renovated, the remaining unit and potentially the building's exterior may require additional investment to achieve a uniform, high-end standard across the entire asset.
Whether you're looking for your next savvy investment or want to make the most out of your purchase, don't pass up this incredible opportunity in Santa Monica! Situated with easy access to major freeways, the property is just half a mile from Virginia Ave Park and a quick three-mile trip to the iconic Santa Monica Pier. This prime location combines the charm of a quiet neighborhood with the convenience of proximity to the city's vibrant lifestyle offerings. Along a tree-lined street in a prime location, this excellent property features (4) units, each separately metered for gas and electric. Discover (3) units, 1-bedroom, 1-bath layouts on the main level and (1) large unit, 2-bedroom, 1-bath upstairs. The optimal design allows you to secure a quadruple income or live in one while renting the others. Find extensive updates across 3 units, including freshly painted walls, newly installed flooring, stainless steel appliances, and revamped fixtures. You'll also have remodeled baths, along with access to private patios overlooking the lush landscaping and mature fruit trees. Convenience is yours with in-unit laundry hookups available. Plus, the 5,600 sq ft property accommodates 4-car garages, an additional 1 parking space, and off-street parking for an additional vehicle. With SMR2 zoning on a triple corner lot, you'll have plenty of room for expansion or redevelopment options. As a premium bonus, two-car garages occupied by the owner can be added to the units' income, along with potential income from an ADU or from renting the additional garages. Limitless possibilities await you in this rare gem that surely won't last long. So, what are you waiting for?
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,544 | 1,999 | 80% |
| Lot Size | 5,589 | 6,752 | 40% |
| Price | $1.97M | $1.60M | 60% |
| Price per sq ft | $772 | $755 | 60% |
| Built year | 1941 | 1948 | 40% |
| HOA | $0 | $0 | 50% |
| Days on market | 53 | 147 | 20% |
Feb 28, 2026
$1,965,000
Initial Listing
Feb 1, 2018
$1,749,000
Public Record
Apr 5, 2017
$1,500,000
Public Record