2960 Neilson Way 304, Santa Monica, California 90405, Santa Monica, 90405 - 2 bed, 2 bath
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2960 Neilson Way 304
Santa Monica, California 90405
ACTIVE UNDER CONTRACT
CONDITION: FAIR
2Beds
2Baths
1,305Sq Ft
134,148Lot Size
Property Price
LIST PRICE$999,000
EST. MARKET VALUE
$929,954
7% AboveMARKET VALUE
SUMMARY
This Strong Value Opportunity is a 2-bedroom condominium listed at $999,000, positioned well below the $929,955 Fair Market Value by -7%. While the unit maintains a Condition Rating of 4, the dated finishes provide a clear path for value-add modernization. Located in the guard-gated Sea Colony II, the property features resort-style amenities including a pool, three spas, and fitness center. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a prime Santa Monica lifestyle with significant renovation upside.
Estimated Market Value
$929,954
Based on Realkey algorithm analyzing recent comparable sales in Santa Monica.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2960 Neilson Way 304 Subject | $999,000* List Price | 2 | 2 | 1,305 | $713 | - |
A 821 Bay St Sold | $1,050,000 | 2 | 2 | 1,404 | $748 | 1.0 mi |
B 1017 Pearl Street E Sold | $1,010,000 | 3 | 2 | 1,422 | $710 | 0.9 mi |
C 2930 Neilson Way 406 Sold | $1,000,000 | 2 | 2 | 1,352 | $740 | - |
D 3115 6th Street 4 Active | $995,000 List Price | 2 | 2 | 1,110 | $896 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1980 (44 years old) with no mention of recent major renovations. While the unit is well-maintained and staged, the visible finishes such as the fireplace surround and carpeting appear dated (>20 years), suggesting that the kitchen and bathrooms likely require modernization to meet current standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated just steps from the beach and the vibrant shops and dining of Main Street, this property offers an unparalleled Santa Monica lifestyle in the highly sought-after, guard-gated Sea Colony II community.
- Extensive Resort Amenities
Residents benefit from a comprehensive amenity package including a pool, three spas, a fitness center, and rare conveniences like side-by-side parking and a large private storage room.
- Exceptional Value Proposition
Priced under $1 million, this spacious 2-bedroom residence represents a rare entry point for a home in a premium oceanfront complex, offering significant value for the Santa Monica market.
CONSRISKS & DEFICIENCIES
- High Association Fees
The monthly HOA fee of $1,685 is substantial, which significantly increases the monthly carrying costs and may impact the overall affordability for some buyers.
- Limited Ocean Views
Despite the proximity to the sand, the unit only offers 'peek-a-boo' views, which may be a drawback for buyers specifically seeking expansive ocean vistas at this price point.
About 2960 Neilson Way 304
A rare opportunity to own the beach lifestyle at an incredible value! Tucked inside the coveted guard-gated Sea Colony II, this bright and inviting 2-bedroom, 2-bath residence delivers the best of Santa Monica living with resort-style amenities and the beach just moments away. Set against lush gardens and overlooking the spa, the home feels private, peaceful, and wonderfully removed from the everyday. A flexible bonus space is perfect for a home office, reading nook, or creative retreat, while the spacious floor plan offers a fireplace, in-unit laundry, two side-by-side parking spaces, and a large private storage room. Enjoy an exceptional collection of amenities including a pool, three spas, fitness center, sauna, guest parking, EV charging, and security. And the location? Steps from the sand and minutes from the restaurants, cafes, boutiques, and energy of Main Street. With this location, this lifestyle, and a price that is hard to beat, this is an opportunity you won't want to miss.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1980
- Lot Size
- 134,148 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $1685.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,305 | 1,332.636 |
| Lot Size | 134,148 | 8,171.182 |
| Price | $999.0K | $1.30M |
| Price per sq ft | $766 | $979 |
| Built year | 1980 | 1976 |
| HOA | $1685.0 | $553 |
| Days on market | 26 | 57 |
Pricing History
Listed for Sale
Aug 14, 2026
$999,000
Initial Listing
Sold
Jul 9, 2007
$867,000
Public Record
Sold
Mar 23, 2006
$840,000
Public Record