2218 24th Street, Santa Monica, California 90405, Santa Monica, 90405 - 3 bed, 2 bath
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Santa Monica, California 90405
This Income-Generating Santa Monica Compound is a Prime Investment Opportunity listed at $2,995,000—positioned well below the $3,102,387 Fair Market Value by 3%. This valuation gap provides $107,387 in Instant Equity. The property features a Completely Remodeled Main Home with a New Quartz Kitchen and 4 Detached Rental Units, earning a Condition Rating of 2. Located in Prime Sunset Park near the beach, it offers a rare blend of luxury living and high-yield potential. This is an elite acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2218 24th Street Subject | $2,995,000* List Price | 3 | 2 | 3,412 | $878 | - |
A 2658 34th Street Sold | $3,004,454 | 5 | 4 | 2,667 | $1,127 | 0.8 mi |
B 2682 34th Street Active | $2,650,000 List Price | 3 | 3 | 2,458 | $1,078 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite being built in 1947, the property has been 'COMPLETELY REMODELED' with 'brand new flooring throughout,' a 'NEW KITCHEN' featuring 'top of the line stainless steel appliances' and 'quartz countertops,' and 'lavish bathrooms.' Images confirm a modern, high-quality renovation with new fixtures, lighting, and finishes, including a 'BRAND NEW AC.' All components appear new or virtually new, meeting current quality standards.
The property includes 4 detached rental units in the rear, offering significant potential for rental income to offset ownership costs or provide investment returns.
Situated in the 'PRIME Sunset Park area' of Santa Monica, the property is minutes from the beach and a stone's throw away from popular amenities like Trader Joe's, Whole Foods, Erewhon, Santa Monica Pier, Venice Beach, and Main St. nightlife, with easy freeway access.
The main home has been completely and tastefully remodeled with brand new flooring, a new kitchen featuring top-of-the-line stainless steel appliances, quartz countertops, and lavish bathrooms, ensuring a move-in ready experience.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 5.
Despite extensive remodeling, the main structure was built in 1947, which may imply potential for older underlying infrastructure or unforeseen maintenance needs not addressed by cosmetic updates.
While offering income, managing four additional detached rental units on the property can introduce complexities such as tenant relations, increased maintenance demands, and potential for reduced privacy for the main residence compared to a standalone home.
Imagine living in a COMPLETELY REMODLED home w/ an OPEN FLOOR PLAN in the PRIME Sunset Park area of Santa Monica. ***COLLECT RENTAL INCOME from 4 detached units in the rear of the property*** There are 5 units in total at this property. MINUTES TO THE BEACH!!! This fully remodeled home has been tastefully redone w/ brand new flooring throughout, NEW KITCHEN, top of the line stainless steel appliances, quartz countertops, & lavish bathrooms. Very private home in the heart of Santa Monica. Kitchen has a beautiful large island, bright & spacious family & dining area. Great for entertaining and comfortable living. BRAND NEW AC. ***FULL SIZE WASHER & DRYER INCLUDED*** Home has two bedrooms plus a bright bonus room with plenty of windows & sunlight that can be utilized as an extra bedroom, home office, or bonus room. Kitchen has plenty of drawers, storage, & also modern open shelving. Dining & kitchen area open up to a covered patio, perfect for entertaining, al-fresco dining or sitting outdoors & enjoying the outdoor after a long day at work. Stone's throw away from Trader Joe's, Whole Foods, Erewhon, World Famous Santa Monica Pier, Venice Beach, night life on Main St. & easy freeway access.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 3,412 | 2,082 | 83% |
| Lot Size | 7,514 | 6,414 | 94% |
| Price | $3.00M | $2.77M | 60% |
| Price per sq ft | $878 | $1.4K | 6% |
| Built year | 1947 | 1947 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 79 | 140 | 20% |
Feb 2, 2026
$2,995,000
Initial Listing
Sep 24, 2021
$2,290,000
Public Record