
Santa Monica, California 90402
This Classic Spanish Residence represents a High-Potential Investment Opportunity, listed at $5,995,000—positioned well below the $5,746,442 Fair Market Value by -4%. While the home maintains a Condition Rating of 4, its authentic 1926 architecture and prime location in the Franklin School District provide a foundation for significant value-add. The property features a private backyard with a coved lanai, offering a rare lifestyle asset. This is an ideal acquisition for Value-Add Investors or Owner-Occupants seeking to modernize a historic Santa Monica estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 249 23rd Street Subject | $5,995,000* List Price | 4 | 3 | 2,845 | $2,020 | - |
A 609 20th Street Sold | $5,995,000 | 3 | 2 | 2,434 | $2,463 | 0.5 mi |
B 224 24th Street Sold | $5,400,000 | 4 | 6 | 3,236 | $1,669 | 0.1 mi |
C 246 16th Street Sold | $4,650,000 | 4 | 3 | 2,388 | $1,947 | 0.6 mi |
D 225 23rd Street Sold | $4,470,000 | 3 | 3 | 2,133 | $2,096 | 0.0 mi |
E 243 Euclid Street Sold | $4,600,000 | 3 | 2 | 1,843 | $2,496 | 0.8 mi |
F 443 16th Street Active | $4,999,999 List Price | 4 | 4 | 3,054 | $1,637 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1926, this home is well-maintained but retains many original features and dated elements. While the kitchen has seen some updates like marble countertops and a Miele dishwasher, the cabinetry and wood-frame windows are aged. The listing's mention of 'significant upside' and 'original tile' suggests that while functional, the systems and finishes are likely over 20 years old and due for modernization.
Elementary School: Franklin Elementary School (9/10).
Built in 1926, this home preserves rare period character including vaulted ceilings, exposed wood beams, and original tile work, offering a level of charm and architectural integrity highly prized in the Santa Monica market.
Situated in the prestigious Franklin School District and walking distance to the Brentwood Country Mart and Montana Avenue, the property occupies an A+ location that ensures long-term desirability and value.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2845, other record living area = 2721.
While well-maintained, the mention of 'significant upside' suggests that the kitchen, bathrooms, and core systems likely require substantial updates to meet the expectations of modern luxury buyers.
The property lacks a comprehensive central HVAC system, with air conditioning currently limited to a split-system in the primary suite, which may be a drawback given the nearly $6 million price point.
Charming Spanish home with beautiful curb appeal and original architectural details throughout. Offering close to 2,900 square feet, the home features four bedrooms, three bathrooms, original tile and hardwood floors, French doors, and exposed wood beams. The grand living room has a vaulted ceiling and fireplace and opens to a covered, coved lanai, ideal for entertaining and enjoying the private backyard. A formal dining room leads to the kitchen and walk-in pantry. The flexible floor plan includes a downstairs fourth-bedroom suite with a separate sitting room, which could also serve as an office or den with direct outdoor access. Upstairs are three bedrooms, including a bright primary suite with generous closet space and split-system air conditioning. Each bedroom enjoys attractive views of the surrounding greenery. The fully hedged backyard offers exceptional privacy, mature trees, citrus trees, and a fire pit. Additional features include a large laundry room and detached garage. A wonderful example of classic Santa Monica Spanish architecture, the home has been lovingly maintained and offers a rare combination of generous scale, warmth, privacy, and authentic period character. Ideally located in the Franklin School District, just moments from the Brentwood Country Mart and the shops and restaurants of Montana Avenue, this is a rare chance to acquire a classic Santa Monica Spanish with exceptional character, generous scale, and significant upside.
No exterior & parking available.
Grades PK-5 • 0.6 mi
Grades K-5 • 1.1 mi
Grades K-5 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.1 |
| Baths | 3.0 | 2.9 |
| Square foot | 2,845 | 1,967.643 |
| Lot Size | 8,689 | 6,981.625 |
| Price | $6.00M | $3.73M |
| Price per sq ft | $2.1K | $1.7K |
| Built year | 1926 | 1940 |
| HOA | $0 | $0 |
| Days on market | 22 | 58 |
Aug 18, 2026
$5,995,000
Initial Listing