402 Pacific Street, Santa Monica, California 90405, Santa Monica, 90405 - bed, bath
402 Pacific Street
Santa Monica, California 90405
Property Price
SUMMARY
Analysis of 402 Pacific Street, Santa Monica, California 90405 is currently available with a list price of $3,795,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Santa Monica Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Although originally built in 1954, the property has been extensively renovated with modern finishes. It features new kitchen cabinetry, stainless-steel appliances, in-unit laundry, and air conditioning. The inclusion of a video security system and the high-quality interior updates meet current luxury standards, qualifying it for an excellent condition rating.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated just steps from Santa Monica's iconic beaches, the Pier, and Third Street Promenade, this property occupies a highly desirable 'A+' location that ensures consistent tenant demand.
- Modernized Amenities
The units feature high-value upgrades including new cabinetry, stainless steel appliances, in-unit laundry, and air conditioning, which are premium features that command higher rental rates.
- Diverse Unit Composition
The mix of single-level and townhome-style units with tree-top vistas provides a versatile rental offering that appeals to a wide range of high-quality tenants seeking a luxury lifestyle.
CONSRISKS & DEFICIENCIES
- Vintage Infrastructure
Originally constructed in 1954, the building may require ongoing maintenance of older core systems and structural components despite the recent cosmetic and interior renovations.
- Investment Yield Compression
The high list price per unit in a strictly regulated rent-control market like Santa Monica may result in a lower initial capitalization rate for investors.
About 402 Pacific Street
Southern California lifestyle, This renovated 6 unit residential income property is only steps away from the iconic beaches of Santa Monica. The complex is comprised of 3 top floor single level units, and 3 townhome style units with tree top vistas, new kitchen cabinetry, and stainless-steel appliances. This beautiful complex has the luxury of an in-unit washer & dryers as well as air conditioning. The building has controlled entry, with a video com security system. Ideally located close to the historic Santa Monica pier and Third Street Promenade.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1954
- Lot Size
- 5,357 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1954 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Pricing History
Listed for Sale
Feb 27, 2025
$3,795,000
Initial Listing
Sold
Feb 28, 2020
$3,645,000
Public Record
Sold
Oct 18, 2017
$3,570,000
Public Record
Sold
Jun 22, 2015
$1,840,000
Public Record