
Santa Monica, California 90405
This Sunset Park Development Asset represents a High-Potential Investment Opportunity with a List Price of $2,549,000. The valuation is anchored by Santa Monica City approved RTI plans for a 4,000 square foot residence and ADU, positioned relative to the $2,201,744 Fair Market Value of the land. This "tear down" with a Condition Rating of 6 offers a streamlined path to Significant Equity Potential with a $5,500,000 exit value in the Santa Monica-Malibu Unified district. It is a strategic acquisition for Real Estate Developers or Owner-Users seeking a bespoke coastal lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2636 33rd Street Subject | $2,549,000* List Price | 2 | 1 | 1,035 | $2,127 | - |
A 2333 22nd Street Sold | $2,550,000 | 2 | 2 | 1,175 | $2,170 | 0.8 mi |
B 2416 29th Street Active | $1,899,000 List Price | 2 | 2 | 916 | $2,073 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The listing explicitly identifies the property as a 'tear down' with value concentrated in the 6,402 sqft lot and RTI architectural plans. The existing 1,035 sqft structure is over 50 years old, shows significant exterior wear, and is marketed for demolition rather than habitation.
The sale includes Santa Monica City approved architectural plans for a 4,000 total square foot residence and ADU, allowing construction to begin immediately and bypassing lengthy permitting processes.
Situated in a highly sought-after coastal enclave, the property offers proximity to Ocean Park Boulevard, top-rated schools, and the beach, supporting high resale values for new construction.
With finished new construction in the immediate area valued up to $5,500,000, this project presents a substantial value-add opportunity for developers or owner-users.
The property was recently sold within the past year on 2025-11-18. The sold price is $2,026,000.00.
The existing structure is a total tear-down, providing no immediate residential utility or rental income and requiring additional costs for demolition and site preparation.
Beyond the $2.5M+ acquisition cost, the project requires significant liquidity for construction, estimated at approximately $600 per square foot.
Tear down: 6,402 square foot lot. An exceptional opportunity for an owner-user in the highly sought-after coastal enclave of Sunset Park, Santa Monica. This sale includes Santa Monica City approved RTI (Ready-To-Issue) architectural plans allowing construction to begin immediately on a thoughtfully designed approximately 3,400 square foot two-story residence with an approximately 600 square foot detached guest house/ADU (approximate total of house + guest house = 4,000 square feet of living space). The seller is a highly experienced local general contractor who has built many beautiful homes in the neighborhood, bringing valuable insight to the design, efficiency, and planning of this project. Approximate cost to build is $600 per square foot and construction financing can also be available to qualified Buyers. The architectural plans envision a sophisticated main residence with an attached two-car garage and a flexible open-concept floor plan tailored for modern indoor outdoor California living. The main level offers an airy layout that includes formal living and dining areas, along with an expansive family room that seamlessly connects to a chef's kitchen with a center island and walk-in pantry. Designed for effortless entertaining, the living spaces flow naturally to a private resort-style backyard retreat featuring a large turf lawn, swimming pool, spa, and generous outdoor entertaining areas. The setting is ideal for al fresco dining, relaxing in the sun, and enjoying cool ocean breezes. A main-level Jr. ADU with its own private entrance offers versatility and can function as a first-floor bedroom suite, guest quarters, media room, or private office. Toward the front of the home, a mudroom and powder room are conveniently located adjacent to the direct-entrance two-car garage. Upstairs, the expansive primary suite serves as a luxurious retreat with a balcony, a spa-inspired bathroom featuring a separate soaking tub and shower, and dual walk-in closets. Two additional bedroom suites, a centrally located laundry room, and a spacious flex area ideal for an upstairs family lounge complete the second level. At the rear of the property, the detached guest house/ADU features a comfortable living area, kitchen, bathroom, and laundry. The space is ideal for guests, extended family, rental income, a pool house, gym, art studio, or a dedicated home office. Sunset Park is one of Santa Monica's most charming and desirable neighborhoods, known for its vibrant sense of community and relaxed coastal lifestyle. The property is just moments from boutique shopping, cafes, and acclaimed restaurants along Ocean Park Boulevard and the popular Main Street district. Residents enjoy easy access to the beach, scenic bike paths, the beloved local farmers markets, neighborhood parks, and some of the Westside's most highly regarded schools. Finished new construction homes in the surrounding area range in price up to $5,500,000, offering an exceptional value add opportunity.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.5 |
| Baths | 1.0 | 3.5 |
| Square foot | 1,035 | 2,285.5 |
| Lot Size | 6,402 | 7,496 |
| Price | $2.55M | $3.70M |
| Price per sq ft | $2.5K | $1.7K |
| Built year | 0 | 1936 |
| HOA | $0 | $0 |
| Days on market | 82 | 51 |
May 1, 2026
$2,549,000
Initial Listing
Nov 18, 2025
$2,026,000
Public Record