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2801 Virginia Avenue, Santa Monica, California 90404, Santa Monica, 90404 - bed, bath

2801 Virginia Avenue, Santa Monica, California 90404 home-pic-0
ACTIVE$1,699,999$2,187/sqft
2801 Virginia Avenue, Santa Monica, California 90404
0Bed
0Bath
2,187Sqft
6,750Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Premier Location: Situated in a highly coveted Santa Monica area, ensuring strong rental demand, high occupancy rates, and potential for significant property appreciation.
Top Cons:
As-Is Sale Condition: The property is being sold 'as-is,' indicating that the buyer will be responsible for all necessary repairs and upgrades, which may require substantial immediate capital investment.

Compared to the nearby listings

Price:$1.70M vs avg $1.60M (+$97,999.5)50%
Size:2,187 sqft vs avg 2,093 sqft50%
Price/sqft:$777 vs avg $75475%

More Insights

Built in 1948 (78 years old).
Condition: Built in 1948 and sold 'as-is,' this triplex shows significant signs of age despite recent cosmetic updates in some units. While some bathrooms and flooring have been refreshed, at least one kitchen remains very dated with original-style tile counters and older appliances. The roof appears old, and there is no central HVAC. The 'as-is' condition, coupled with the property's age and the AI's assessment of 'Older Infrastructure' (plumbing, electrical, roofing) likely requiring substantial maintenance or replacement, indicates that significant rehabilitation is needed beyond minor updates.
Year Built
1948
Close
-
List price
$1.7M
Original List price
$1.7M
Price/Sqft
$777
HOA
-
Days on market
-
Sold On
-
MLS number
SR25224734
Home ConditionPoor
Features
Good View:
Patio
View-

About this home

Prime Santa Monica Location! Don't miss out on this fantastic opportunity to own a multi-family property in the coveted Santa Monica area! This spacious Triplex features 3 different addresses. 2801 Virginia features a 2 bedroom 1 bath, a large living room and dining space. New Laminate flooring, New Carpet flooring in the bedrooms, Updated bathroom along with a fresh coat of paint throughout. 1925 Stuart is also a 2 bedroom 1 bath with a large living room. 1929 Stuart is a 1 bedroom 1 bath good size living room, dining space and updated bathroom. 3 Car garage with potential of making it a 4rth Unit. (Buyer to verify with City of Santa Monica) 2 additional parking spaces. A separate room that used to be the laundry area. This property is being sold as-is, making it an ideal investment opportunity whether you're an investor, developer, or owner-user, the possibilities here are truly exceptional. Call to schedule a showing. Prospective buyers are encouraged to conduct their own due diligence and confirm all details with the City of Santa Monica. Short walk to the Metro...

R
Raquel Lopez
Listing Agent
Condition Rating
Poor
Built in 1948 and sold 'as-is,' this triplex shows significant signs of age despite recent cosmetic updates in some units. While some bathrooms and flooring have been refreshed, at least one kitchen remains very dated with original-style tile counters and older appliances. The roof appears old, and there is no central HVAC. The 'as-is' condition, coupled with the property's age and the AI's assessment of 'Older Infrastructure' (plumbing, electrical, roofing) likely requiring substantial maintenance or replacement, indicates that significant rehabilitation is needed beyond minor updates.
Pros & Cons

Pros

Premier Location: Situated in a highly coveted Santa Monica area, ensuring strong rental demand, high occupancy rates, and potential for significant property appreciation.
Multi-Unit Income Stream: As a Triplex, the property provides diversified rental income from three separate units, appealing to investors and owner-users seeking multiple revenue sources and reduced vacancy risk.
Value-Add Potential: The existing 3-car garage presents a clear opportunity for conversion into a fourth income-generating unit, which could substantially increase the property's cash flow and overall market value (subject to city verification).
Recent Unit Upgrades: At least two of the three units have received recent updates, including new laminate/carpet flooring, fresh paint, and updated bathrooms, enhancing tenant appeal and reducing immediate renovation needs for those units.
Transit-Oriented & Ample Parking: The property's short walk to the Metro enhances tenant desirability, complemented by generous parking options including a 3-car garage and two additional spaces, a significant advantage in Santa Monica.

Cons

As-Is Sale Condition: The property is being sold 'as-is,' indicating that the buyer will be responsible for all necessary repairs and upgrades, which may require substantial immediate capital investment.
Older Infrastructure: Built in 1948, the property's age suggests that major systems such as plumbing, electrical, and roofing may require significant maintenance, repair, or replacement in the near future, despite some cosmetic updates.
Development Uncertainty: The attractive potential for converting the garage into a fourth unit is contingent on buyer verification and approval from the City of Santa Monica, introducing an element of risk, potential delays, and unforeseen costs.
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