2432 3rd Street, Santa Monica, California 90405, Santa Monica, 90405 - bed, bath
2432 3rd Street
Santa Monica, California 90405
Property Price
SUMMARY
Analysis of 2432 3rd Street, Santa Monica, California 90405 is currently available with a list price of $5,668,888. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Santa Monica Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Despite being built in 1918, the property has undergone an extensive and legal remodel and expansion completed between 2020 and 2023. The images confirm this with modern, white shaker-style kitchen cabinets, light quartz-like countertops, updated appliances (some stainless steel, some white, with stackable washer/dryer units), and contemporary light wood-look flooring. Bathrooms feature modern vanities, updated fixtures, and clean tile work. Throughout the living spaces and bedrooms, there are well-maintained hardwood floors, modern ceiling fans, and mini-split AC units, indicating recent upgrades to major systems and aesthetics. The overall condition reflects a property that is virtually new in its finishes and functionality, meeting current quality standards.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Location & Lifestyle
Located just 3 blocks from Santa Monica Beach and steps from world-famous Main Street, offering unparalleled coastal living, vibrant nightlife, dining, and high rental demand.
- Strong Income-Generating Asset
A multi-family triplex with large, breathtaking units, recently remodeled and expanded (2020-2023), designed for easy short or long-term rentals with solid return on investment and long-term growth potential.
- Historic Charm with Modern Updates
The property retains its unique 1918 historic character, featuring 1920s Spanish style and classic Craftsman bungalows, while benefiting from extensive and legal remodels completed in recent years.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 4400, other record living area = 2400.
- Premium Price Point
The listing price of $5.66 million positions this property in a very high-end market segment, potentially limiting the pool of prospective buyers and requiring substantial capital investment.
- Potential for Hidden Costs in Historic Structure
Despite recent remodels, the core structure dating back to 1918 may still present unforeseen maintenance or upgrade requirements for original systems not covered by the stated renovations.
About 2432 3rd Street
Welcome to 2432 3rd St, a historic and charming multi-family property located in the heart of Santa Monica, CA. Built in 1918, this unique home boasts a total of 7 bathrooms and a spacious finished area of 4,400 square feet. Situated on a generous lot size of 6,495 square feet, this property offers plenty of outdoor space for relaxing and entertaining. Incredible and spacious 1920s Spanish style two-story duplex in front and classic craftsman shotgun bungalows nestled in back inside separate private compound. Entire property is gated for privacy and serenity. In historic Ocean Park, just 3 blocks from the beach and steps to world famous Main St with delicious and exciting nightlife, but also the calming quiet of the waves heard at night, and soothing breeze during the day. Fruit, flowering and other privacy trees and hedges see occasional southern California squirrels, hummingbirds and doves at play. Has driveway parking for up to 5 cars (one being in the carport.) An extensive and legal remodel and expansion completed in 2020, 2021, and 2023, the large breathtaking units are able to be quickly and easily rented out short or long term with a solid return on investment with the enticement of the beach location locking in a solid long term growth potential. Important note: square footage and rooms here are correct.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1918
- Lot Size
- 6,534 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 4,400 | 3,715.5 | 50% |
| Lot Size | 6,534 | 5,974.5 | 50% |
| Price | $5.67M | $3.68M | 50% |
| Price per sq ft | $1.3K | $925 | 50% |
| Built year | 1918 | 1919 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 91 | 145 | 50% |
Pricing History
Listed for Sale
Dec 5, 2025
$5,668,888
Initial Listing
Sold
Jan 4, 2008
$1,480,000
Public Record
Sold
Feb 2, 2006
$1,000,000
Public Record