2331 4th Street, Santa Monica, California 90405, Santa Monica, 90405 - bed, 1 bath

2331 4th Street, Santa Monica, California 90405 home-pic-0
ACTIVE$2,900,000
2331 4th Street, Santa Monica, California 90405
0Bed
1Bath
2,388Sqft
5,587Lot

Price Vs. Estimate

The estimated value ($2,900,000) is $0 (0%) lower than the list price ($2,900,000). This property may be overpriced.

Key pros and cons

Top Pros:
Desirable Location: Situated in highly sought-after Santa Monica, specifically on 4th Street, offering a prestigious address and excellent access to local amenities.
Top Cons:
High Investment Cost: The $2.9 million list price represents a significant investment, potentially narrowing the buyer pool.

Compared to the nearby listings

Price:$2.90M vs avg $2.53M (+$372,500)64%
Size:2,388 sqft vs avg 1,657 sqft69%
Price/sqft:$1.2K vs avg $1.3K26%

More Insights

Built in 1925 (100 years old).
Condition: While built in 1925, this former commercial site has undergone significant recent renovations, including new HVAC, a new roof, an upgraded power panel, and a remodeled bathroom. The interior images show a clean, modern, loft-style space with good flooring and well-maintained exposed ductwork. These updates bring the major systems and visible areas to a 'good' condition. However, as a 'conversion opportunity,' a full residential kitchen is likely not present and would need to be installed by the buyer, preventing it from being truly 'move-in ready' as a traditional home. The existing renovated components are of good quality.
Year Built
1925
Close
-
List price
$2.9M
Original List price
$2.9M
Price/Sqft
$1,214
HOA
-
Days on market
-
Sold On
-
MLS number
25581607
Home ConditionGood
Features
Good View: Ocean
ViewOcean

About this home

Unique opportunity to acquire a former general market site and convert to an extraordinary residential property. Building has new HVAC, new roof, new slurry coat in the parking lot, remodeled bathroom, upgraded power panel. The OP2, or "Ocean Park Low Density Residential" Zoning District is intended to provide a variety of low-density housing types that reflect the distinct identity of the Ocean Park neighborhood. These types include single-unit dwellings, accessory dwelling units, junior accessory dwelling units, duplexes and triplexes, townhouses, and courtyard housing with at least 2,000 sq. ft. of parcel area per unit. In addition to low density residential development, this District provides for uses such as transitional housing or hospice facilities, family day care, and neighborhood serving uses such as childcare, neighborhood grocery stores, and community facilities that may be appropriate in a residential environment.

Price History

Date
Event
Price
09/06/18
Sold
$3,295,000
12/28/05
Sold
$1,500,000
Condition Rating
Good

While built in 1925, this former commercial site has undergone significant recent renovations, including new HVAC, a new roof, an upgraded power panel, and a remodeled bathroom. The interior images show a clean, modern, loft-style space with good flooring and well-maintained exposed ductwork. These updates bring the major systems and visible areas to a 'good' condition. However, as a 'conversion opportunity,' a full residential kitchen is likely not present and would need to be installed by the buyer, preventing it from being truly 'move-in ready' as a traditional home. The existing renovated components are of good quality.
Pros & Cons

Pros

Desirable Location: Situated in highly sought-after Santa Monica, specifically on 4th Street, offering a prestigious address and excellent access to local amenities.
Versatile Zoning: The OP2 (Ocean Park Low Density Residential) zoning allows for diverse residential development, including multi-unit configurations (ADUs, duplexes, triplexes, townhouses), and even neighborhood-serving commercial uses, providing significant investment flexibility.
Redevelopment Opportunity: A unique chance to transform a former general market site into an extraordinary residential property, offering a rare blank canvas for a bespoke, high-value conversion.
Recent Capital Improvements: Key infrastructure updates including new HVAC, roof, upgraded power panel, and a remodeled bathroom reduce immediate capital expenditure for the buyer.
Scenic Views: The property boasts desirable ocean views, enhancing its appeal and potential resale value.

Cons

High Investment Cost: The $2.9 million list price represents a significant investment, potentially narrowing the buyer pool.
Limited Existing Bathrooms: With only one bathroom for a 2388 sqft property, significant plumbing and renovation work will be required, especially for multi-unit conversion or a larger family residence.
Building Age: Built in 1925, the property's age, despite recent upgrades, may present unforeseen structural or foundational challenges requiring additional due diligence and potential investment.

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