422 18th Street, Santa Monica, California 90402, Santa Monica, 90402 - 3 bed, 2 bath
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Santa Monica, California 90402
This property presents a High-Potential Investment Opportunity with a List Price of $5,195,000—positioned above the $4,490,074 Fair Market Value. While the current Condition Rating of 6 reflects a dated 1925 structure, the 8,938 sqft lot in the prestigious Gillette Regent Square offers significant development upside. Zoned for top-tier schools like Franklin Elementary (9/10), this asset is a prime candidate for a custom luxury build. This is an ideal acquisition for Real Estate Developers or Owner-Occupants seeking a premier Santa Monica location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 422 18th Street Subject | $4,595,000* List Price | 3 | 2 | 1,539 | $2,784 | - |
A 739 18th Street Sold | $4,800,000 | 2 | 1 | 1,529 | $3,139 | 0.3 mi |
B 704 17th Street Sold | $3,800,000 | 3 | 2 | 1,488 | $2,554 | 0.3 mi |
C 243 Euclid Street Sold | $4,600,000 | 3 | 2 | 1,843 | $2,496 | 0.4 mi |
D 321 17th Street Active Under Contract | $4,499,000 List Price | 2 | 2 | 1,584 | $2,840 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1925 and on the market for the first time in decades, this property shows no signs of modern renovation. Interior images reveal significant water damage, peeling plaster, and severely worn flooring. The kitchen and bathrooms are original or extremely dated, and the listing explicitly markets the property as a canvas to build a new estate, indicating the value is primarily in the 8,938 sqft lot.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8939, living area = 1539.
Elementary School: Franklin Elementary School (9/10).
Situated North of Montana in the prestigious Gillette Regent Square, this property offers an elite coastal lifestyle within walking distance of Montana Avenue's high-end boutiques and dining.
At a list price of over $5.1M for a modest 1,539 square foot home, the value is almost entirely in the land, requiring a substantial additional capital investment for renovation or rebuilding.
Built in 1925 and held by the same owners for decades, the residence likely requires comprehensive modernization of systems and finishes to meet contemporary luxury standards.
Significant Price Improvement! First time on the market in decades, this is an extraordinary opportunity to acquire a legacy property in one of Santa Monica's most prestigious neighborhoods. Ideally situated North of Montana in the coveted Gillette Regent Square, 422 18th Street presents timeless character, exceptional potential, and an expansive 8,938 square foot lot. Originally built in 1925, the residence offers approximately 1,539 square feet of living space with three bedrooms and two bathrooms, providing the perfect canvas to restore, renovate, expand, or build your dream estate (buyer to verify). Surrounded by distinguished homes and tree-lined streets, this premier location places you just moments from the boutiques, cafes, and acclaimed dining along Montana Avenue, the Brentwood Country Mart, Palisades Park, Santa Monica Pier, and the world-famous Santa Monica beaches. Convenient access to award-winning schools, scenic parks, and major Westside destinations further enhances this exceptional offering. Whether you're an owner-user, builder, or investor, this rare North of Montana opportunity combines an irreplaceable location with unlimited possibilities in one of Southern California's most sought-after coastal communities.
No exterior & parking available.
Grades PK-5 • 0.6 mi
Grades K-5 • 0.8 mi
Grades K-5 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.5 |
| Baths | 2.0 | 3.5 |
| Square foot | 1,539 | 2,285.5 |
| Lot Size | 8,939 | 7,496 |
| Price | $4.59M | $3.70M |
| Price per sq ft | $3.0K | $1.7K |
| Built year | 1925 | 1936 |
| HOA | $0 | $0 |
| Days on market | 21 | 51 |
Jul 16, 2026
$4,595,000
$5,195,000
-12% Price Drop
Initial Listing
Jul 1, 2026
$5,195,000
Initial Listing