402 Pacific Street, Santa Monica, California 90405, Santa Monica, 90405 - bed, bath
ACTIVE$3,795,000
402 Pacific Street, Santa Monica, California 90405
0Bed
0Bath
3,912Sqft
5,357Lot
Year Built
1954
Close
-
List price
$3.79M
Original List price
$3.79M
Price/Sqft
$970
HOA
-
Days on market
-
Sold On
-
MLS number
SB25043750
Home ConditionGood
Features
Good View:
View-
About this home
We found 3 Cons,5 Pros.
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.
Price History
Date
Event
Price
02/27/25
Listing
$3,795,000
02/28/20
Sold
$3,645,000
10/18/17
Sold
$3,570,000
06/22/15
Sold
$1,840,000
Condition Rating
Good
The property, built in 1954, has undergone a significant renovation, as indicated by 'new kitchen cabinetry and stainless-steel appliances,' 'in-unit washer & dryers,' and 'air conditioning.' The exterior images show a modern, well-maintained building. While the exact renovation date is not provided, the description suggests recent updates that make the property move-in ready with modern amenities. The absence of interior photos prevents a detailed assessment of all components, but the listed features align with a 'Good' condition, implying extensive renovation within the last 5-15 years.
Pros & Cons
Pros
Prime Coastal Location: The property is exceptionally located, only steps away from the iconic beaches of Santa Monica, and ideally close to the historic Santa Monica Pier and Third Street Promenade, offering unparalleled lifestyle and tenant appeal.
Income-Generating Asset: This is a renovated 6-unit residential income property, providing a significant opportunity for steady rental income in a highly desirable market.
Modern Unit Amenities: Units feature new kitchen cabinetry, stainless-steel appliances, in-unit washer & dryers, and air conditioning, offering modern comforts highly sought after by tenants.
Enhanced Security Features: The building benefits from controlled entry and a video communication security system, providing residents with an added layer of safety and peace of mind.
Diverse Unit Mix: The complex offers a desirable mix of 3 top-floor single-level units and 3 townhome-style units with tree-top vistas, catering to a broader range of potential tenants.
Cons
Building Age: Constructed in 1954, despite renovations, the underlying infrastructure of an older building may lead to higher long-term maintenance costs and potential for unforeseen repairs.
Lack of Explicit Parking: The property description does not mention dedicated parking facilities for its 6 units, which could be a significant drawback for tenants and impact rental desirability in a dense urban area like Santa Monica.
Regulatory Environment: Santa Monica is known for its stringent rent control and tenant protection laws, which could limit an investor's flexibility in rent adjustments and property management strategies.