452 18th Street, Santa Monica, California 90402, Santa Monica, 90402 - 5 bed, 6 bath
Loading property details...
Santa Monica, California 90402
This High-Potential Investment Opportunity is a rare RTI development site listed at $6,500,000, positioned well below the $6,406,436 Fair Market Value (Note: Market value reflects current land/permit valuation). With Ready-to-Issue Permits for an 8,000 sq. ft. luxury residence, this project offers significant upside, with a projected $16,000,000 resale value. Located in the prestigious North of Montana neighborhood near Franklin Elementary (9/10), this asset is ideal for Real Estate Developers or Custom Home Builders seeking to bypass entitlement delays and execute a high-end build.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 452 18th Street Subject | $6,500,000* List Price | 5 | 6 | 8,000 | $801 | - |
A 618 10th Street Sold | $4,600,000 | 6 | 7 | 5,018 | $917 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
This listing is a Ready-to-Issue (RTI) development opportunity for a brand-new luxury home with a projected completion date of 2027. As a new construction project, it will feature completely modern systems, kitchens, and baths in mint condition with no maintenance required.
Elementary School: Franklin Elementary School (9/10).
The property comes with RTI permits already in place, allowing builders or end-users to bypass the lengthy and costly entitlement process and begin construction immediately.
Situated in one of Santa Monica's most prestigious neighborhoods, the lot is located on a beautiful tree-lined street near Montana Avenue and top-rated schools like Franklin Elementary.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 8000, other record living area = 1433. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
As a vacant lot, the buyer must commit significant additional capital, time, and oversight to manage the construction of the 8,000 square foot residence from the ground up.
The property does not offer any scenic or panoramic views, which is often a highly sought-after feature for luxury builds in this price tier.
Exceptional RTI development opportunity in Santa Monica's highly sought-after North of Montana neighborhood. Situated on a beautiful tree-lined street, this 8,935 sq. ft. vacant lot comes with RTI permits in place, allowing builders, developers, and end users to begin construction without the delays of the entitlement process. Surrounded by multi-million-dollar homes and located near Montana Avenue, Franklin Elementary, and Santa Monica's top public and private schools, this is a rare opportunity to build a custom residence in one of the Westside's most desirable neighborhoods. Renderings are for illustrative purposes only. The completed residence may vary in design, finishes, and features. Based on $2,000 price per foot resale value would be $16,000,000.
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 | 5.0 | 3.5 |
| Baths | 6.0 | 3.5 |
| Square foot | 8,000 | 2,285.5 |
| Lot Size | 8,937 | 7,496 |
| Price | $6.50M | $3.70M |
| Price per sq ft | $812 | $1.7K |
| Built year | 2027 | 1936 |
| HOA | $0 | $0 |
| Days on market | 34 | 51 |
Jun 18, 2026
$6,500,000
Initial Listing
Nov 27, 2024
$4,020,000
Public Record