2960 Neilson Way 304, Santa Monica, California 90405, Santa Monica, 90405 - 2 bed, 2 bath
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Santa Monica, California 90405
This Sea Colony II Condominium represents a High-Potential Investment Opportunity, listed at $1,129,000—positioned well above the $1,072,509 Fair Market Value by 5%. While the property carries a Fair Condition Rating due to its 1980s-era finishes, it offers a prime coastal lifestyle with resort-style amenities, including a pool, spa, and 24-hour security. The unit features a functional layout with a bonus office and private storage. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add project in a premier Santa Monica location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2960 Neilson Way 304 Subject | $1,129,000* List Price | 2 | 2 | 1,305 | $822 | - |
A 1017 Pearl Street E Sold | $1,010,000 | 3 | 2 | 1,422 | $710 | 0.9 mi |
B 2510 4th Street A Sold | $866,000 | 2 | 1 | 899 | $963 | 0.4 mi |
C 821 Bay St Pending | $1,100,000 List Price | 2 | 2 | 1,404 | $783 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1980 (44 years old), the property exceeds the 20-year threshold for the 'Fair' category. While the listing notes it is 'freshly painted' and move-in ready, the visible finishes—including wall-to-wall carpeting and older green tile on the kitchen breakfast bar—suggest the kitchen and baths are dated and have not undergone a major renovation in the last 15-20 years.
Situated in the exclusive Ocean Park neighborhood of Santa Monica, the property offers an enviable lifestyle just steps from the beach and the vibrant shops and restaurants of Main Street.
The Sea Colony II community provides an impressive suite of amenities, including 24-hour security, a fitness center, pool, three spas, and rare conveniences like side-by-side parking and EV chargers.
The 1,305 sqft unit is thoughtfully designed with a bonus office area, in-unit laundry, and a large private storage space specifically for bicycles and surfboards.
The monthly HOA fee of $1,685 is substantial and may represent a significant ongoing carrying cost that could deter budget-conscious buyers.
Built in 1980, the property may require additional modern updates to the kitchen and bathrooms to compete with newer luxury developments in the area.
Welcome to coastal living at its finest in the highly sought-after Sea Colony II community, ideally situated in Santa Monica's exclusive Ocean Park neighborhood. This 2 bed/2 bath residence has been freshly painted and offers a bright, inviting atmosphere throughout. Bonus area off the kitchen can be used for an office. The unit enjoys tranquil views overlooking the lush garden and spa, creating a serene retreat just moments from the ocean. Thoughtfully designed for comfort and convenience, the home features an in-unit washer and dryer and a well-proportioned layout perfect for both everyday living and entertaining. Two side-by-side parking spaces in a secure garage. Sea Colony II offers resort-style amenities including a sparkling pool, three spas, a fully equipped fitness center, and a sauna. Residents also benefit from 24-hour security, a controlled-access building, and an elegant lobby. On site guest parking and EV chargers. Bonus large storage space with key for bicycles, surfboards, etc. Located just steps from the beach and the vibrant shops and award-winning restaurants along Main Street, this is a rare opportunity to experience the best of Santa Monica coastal living.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,305 | 1,404 | 44% |
| Lot Size | 134,148 | 12,003 | 80% |
| Price | $1.13M | $1.23M | 46% |
| Price per sq ft | $865 | $980 | 32% |
| Built year | 1980 | 1980 | 50% |
| HOA | $1685.0 | $600 | 95% |
| Days on market | 31 | 156 | 2% |
May 14, 2026
$1,129,000
Initial Listing
Jul 9, 2007
$867,000
Public Record
Mar 23, 2006
$840,000
Public Record