515 Ocean Avenue 503s, Santa Monica, California 90402, Santa Monica, 90402 - 2 bed, 2 bath
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Santa Monica, California 90402
This Spacious Ocean Avenue Condominium is a Prime Investment Opportunity, listed at $1,595,000—positioned well below the $1,657,554 Fair Market Value by 3%. This valuation gap offers $62,554 in Instant Equity. While maintaining a Functional Condition Rating, the unit features partial ocean views, a private balcony, and access to a pool and spa. Located in a full-service building near top-rated schools like Roosevelt Elementary, it serves as a "clean canvas" for customization. This is an ideal acquisition for Owner-Occupants or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 515 Ocean Avenue 503s Subject | $1,595,000* List Price | 2 | 2 | 1,490 | $1,112 | - |
A 201 Ocean Avenue 1204b Sold | $1,845,000 | 3 | 3 | 1,554 | $1,187 | 0.3 mi |
B 515 Ocean Avenue 303s Sold | $1,800,000 | 2 | 2 | 1,490 | $1,208 | - |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1976 and owned by the same family for over 45 years, the property is well-maintained but largely original in style. While it has been refreshed with new carpet and paint, the kitchen and bathrooms appear dated and do not meet modern luxury standards. The listing is explicitly marketed as a 'clean canvas' for customization, fitting the criteria for a functional but outdated home requiring updates.
Welcome to an exceptional opportunity on Ocean Avenue in prime Santa Monica. This light-filled 2 bedroom, 2 bath residence offers just under 1,500 square feet of living space, partial ocean views, and a private balcony accessible from every room that invites in fresh coastal breezes. Owned by the same family for over 45 years, the unit has been freshly painted and newly carpeted, providing a clean canvas to design your ideal home by the beach.Located in the coveted Park Plaza, the building offers 24-hour security, pool, spa, fitness center, and conference room, creating a true full-service living experience. Moments from the Santa Monica Pier, Montana Avenue, Venice, top Los Angeles restaurants, neighborhood coffee spots, and everything that defines the best of Westside living. Bright and airy, this is Santa Monica living at its finest and a rare opportunity to create something truly custom by the ocean, just in time for summer.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 6-8 • 1.2 mi
Grades 9-12 • 1.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,490 | 1,568 | 39% |
| Lot Size | 67,427 | 38,613.5 | 61% |
| Price | $1.59M | $2.11M | 22% |
| Price per sq ft | $1.1K | $1.4K | 11% |
| Built year | 1976 | 1976 | 50% |
| HOA | $2064.0 | $2.2K | 50% |
| Days on market | 58 | 206 | 11% |
Feb 23, 2026
$1,595,000
Initial Listing