2333 22nd Street, Santa Monica, California 90405, Santa Monica, 90405 - 2 bed, 2 bath

2333 22nd Street, Santa Monica, California 90405 home-pic-0
ACTIVE$1,999,000$1,175/sqft
Est. Value: $1,863,600
-6%
AboveEstimate
2333 22nd Street, Santa Monica, California 90405
2Beds
2Baths
1,175Sqft
6,745Lot

Price Vs. Estimate

The estimated value ($1,863,599.83) is $135,400.17 (6%) lower than the list price ($1,999,000). This property may be overpriced.

Key pros and cons

Top Pros:
Exceptional Location: Situated on a highly sought-after tree-lined street in Santa Monica's desirable Sunset Park, offering excellent walkability to schools, parks, restaurants, and neighborhood amenities.
Top Cons:
Extensive Renovation/Redevelopment Needed: Being on the market for the first time in over 80 years and priced for land value, the existing structure requires substantial investment for modernization or complete redevelopment.

Compared to the nearby listings

Price:$2.00M vs avg $2.46M ($-463,000)31%
Size:1,175 sqft vs avg 1,549.5 sqft22%
Price/sqft:$1.7K vs avg $1.3K81%

More Insights

Built in 1928 (98 years old).
Condition: Built in 1928 and on the market for the first time in over 80 years, this property explicitly states it is 'Priced for land value' and presents an opportunity to 'reimagine, expand, or redevelop.' The kitchen is original and severely outdated, and the bathrooms are very dated with one showing peeling paint. The description notes 'Age-Related System Concerns' and 'Extensive Renovation/Redevelopment Needed.' While the structure may not be literally crumbling, its value is clearly in the land, aligning with the 'tear-down' criteria where the property's value is based solely on the land and its potential for redevelopment, and the existing structure is not considered a primary asset for renovation.
Year Built
1928
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
$1,701
HOA
-
Days on market
-
Sold On
-
MLS number
26637511
Home ConditionTear down
Features
View-

About this home

First time on the market in over 80 years, this 1928 Spanish-style home sits on an approximately 6,745 sq.ft. lot (50 x 135) with desirable corner alley access, on one of Sunset Park's most sought-after tree-lined streets. Priced for land value, the property presents a rare opportunity to reimagine, expand, or redevelop in a location where new construction is commanding $5M+. A charming front courtyard introduces the existing residence, which includes two bedrooms, one and a half bathrooms, a living room with fireplace, formal dining room, and an original kitchen with breakfast room. Period details remain throughout, including hardwood floors, built-ins, coved ceilings, original windows and doors, plaster walls, and abundant natural light. At the rear of the property is a detached three-car garage with an attached bonus space and laundry area, offering additional flexibility. The generous lot size and alley access create a wide range of possibilities for buyers looking to maximize the potential of this prime setting. Ideally located just a few blocks from Grant Elementary School, parks, restaurants, grocery stores, coffee shops, and neighborhood amenities, this is a compelling opportunity in the heart of Sunset Park.

T
Tregg Rustad
Listing Agent

Price History

Date
Event
Price
09/15/20
Sold
$812,500
Condition Rating
Tear down

Built in 1928 and on the market for the first time in over 80 years, this property explicitly states it is 'Priced for land value' and presents an opportunity to 'reimagine, expand, or redevelop.' The kitchen is original and severely outdated, and the bathrooms are very dated with one showing peeling paint. The description notes 'Age-Related System Concerns' and 'Extensive Renovation/Redevelopment Needed.' While the structure may not be literally crumbling, its value is clearly in the land, aligning with the 'tear-down' criteria where the property's value is based solely on the land and its potential for redevelopment, and the existing structure is not considered a primary asset for renovation.
Pros & Cons

Pros

Exceptional Location: Situated on a highly sought-after tree-lined street in Santa Monica's desirable Sunset Park, offering excellent walkability to schools, parks, restaurants, and neighborhood amenities.
Significant Redevelopment Potential: Priced for land value, this property presents a rare opportunity to reimagine, expand, or redevelop, with new construction in the area commanding $5M+.
Generous & Flexible Lot: An approximately 6,745 sq.ft. lot with desirable corner alley access provides ample space and flexibility for various development possibilities.
Architectural Charm & Original Details: The 1928 Spanish-style home retains charming period details like hardwood floors, built-ins, coved ceilings, and plaster walls, offering a strong foundation for a sensitive renovation.
Valuable Detached Garage & Bonus Space: A detached three-car garage with an attached bonus space and laundry area offers significant utility and potential for conversion or additional uses, complemented by alley access.

Cons

Extensive Renovation/Redevelopment Needed: Being on the market for the first time in over 80 years and priced for land value, the existing structure requires substantial investment for modernization or complete redevelopment.
Limited & Outdated Living Space: The current 1175 sq.ft. home with 2 bedrooms and 2 bathrooms features an original kitchen, making it undersized and functionally outdated for contemporary living without significant upgrades.
Age-Related System Concerns: Built in 1928, the property likely has aging infrastructure (plumbing, electrical, HVAC) and potential for historical materials, which could lead to unforeseen costs and complexities during renovation.
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