507 W Rustic Road, Santa Monica, California 90402, Santa Monica, 90402 - 3 bed, 3 bath

507 W Rustic Road, Santa Monica, California 90402 home-pic-0
ACTIVE$3,750,000
507 W Rustic Road, Santa Monica, California 90402
3Beds
3Baths
2,176Sqft
13,752Lot
Year Built
1973
Close
-
List price
$3.75M
Original List price
$3.75M
Price/Sqft
$1,723
HOA
-
Days on market
-
Sold On
-
MLS number
SR25058844
Home ConditionFair
Features
Patio
View-

About this home

Fairly Priced:The estimated price is in line with the list price. We found 3 Cons,6 Pros. Rank: price - $3.75M(19th), sqft - 2176(25th), beds - 3(38th), baths - 3(40th).

Tucked away in Rustic Canyon, this classic Santa Monica home is brimming with charm and endless possibilities. Featuring 3 bedrooms, 2.5 bathrooms, and 2,176 sqft of living space, this home sits on an expansive 13,748 sqft lot, offering ample room to create your dream retreat. The grand entryway with soaring ceilings sets the tone, leading to a living room with a fireplace and original wood flooring. The formal dining room and kitchen open to the backyard through French doors, creating a seamless flow for entertaining. Upstairs, the primary suite is a spacious retreat, boasting a private balcony, high ceilings, a second fireplace, walk-in closet, and ensuite bath. The spacious layout allows for a sitting area, TV entertainment space, or office nook, making it a versatile sanctuary.  The oversized two-car garage with direct access and gated pedestrian entry add convenience and security. Located just a 10-minute walk to the beach, and minutes from Santa Monica Stairs, hiking trails, premier dining, shopping, and Santa Monica’s famed 3rd Street Promenade, this home offers a rare opportunity to create something spectacular.

Price History

Date
Event
Price
04/12/17
Sold
$2,050,000
Condition Rating
Fair

Built in 1973, this home retains much of its original character and some dated features. While the property boasts 'original wood flooring' and 'soaring ceilings,' the kitchen is significantly outdated with tile countertops, older cabinets, and a missing cabinet door, indicating a need for immediate renovation. The bathrooms also show dated styles, particularly the secondary bath with older flooring and accent tiles, and the primary bath's tub appears aged. The property is functional and well-maintained in general, but requires substantial cosmetic updates to meet modern standards and buyer expectations, aligning with the 'fair' condition criteria of requiring minor updates or repairs and showing signs of being outdated.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13752, living area = 2176.
Exceptional Location: Prime Santa Monica location in Rustic Canyon, offering a 10-minute walk to the beach and minutes from Santa Monica Stairs, hiking trails, premier dining, shopping, and 3rd Street Promenade.
Generous Lot Size: An expansive 13,752 sqft lot provides ample outdoor space and significant potential for landscaping, expansion, or creating a dream retreat.
Spacious Primary Suite: The primary suite is a luxurious retreat featuring a private balcony, high ceilings, a second fireplace, walk-in closet, and ensuite bath, with versatile space for a sitting area or office nook.
Architectural Charm & Potential: Described as a 'classic Santa Monica home brimming with charm and endless possibilities,' indicating good foundational quality and significant customization potential for a discerning buyer.
Desirable Interior Features & Flow: Features a grand entryway with soaring ceilings, original wood flooring, and French doors connecting the formal dining room and kitchen seamlessly to the backyard for entertaining.

Cons

Age and Implied Renovation Needs: Built in 1973, the home's age and description of 'endless possibilities' suggest it may require significant updates or renovations to meet modern buyer preferences and standards.
Lack of Views: The property explicitly states 'view: None,' which can be a notable drawback in a desirable coastal market like Santa Monica where ocean or city views often command a premium.
Potential Overpricing: The current list price of $3,750,000 is higher than the estimated property value of $3,638,129, potentially indicating it is priced above current market expectations.

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