515 Ocean Avenue 504n, Santa Monica, California 90402, Santa Monica, 90402 - 2 bed, 2 bath
515 Ocean Avenue 504n
Santa Monica, California 90402
Property Price
SUMMARY
Analysis of 515 Ocean Avenue 504n, Santa Monica, California 90402 is currently available with a list price of $2,200,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Santa Monica Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1976, this property has received recent cosmetic updates in the kitchen and primary bathroom, including new quartz countertops, contemporary faucets, a stainless steel hood, and a new cooktop. However, the kitchen still features a visibly dated built-in double oven, and the primary bathroom's tub surround also appears outdated. The main living areas and bedrooms are carpeted, which, while clean, is not a modern premium finish. These factors indicate that while the property is well-maintained and move-in ready, it has not undergone a full, extensive renovation and retains several components that show its age and may require further updates to meet contemporary standards.
PROSSTRENGTHS & OPPORTUNITIES
- Unbeatable Location & Views
Southwest-facing residence offering direct ocean and Palisades Park views from a prestigious Santa Monica address, with immediate proximity to the Third Street Promenade, Ocean Avenue dining, and Montana Avenue shops.
- Luxury Building Amenities
The Park Plaza building provides comprehensive services including a 24-hour concierge, security, pool, spa, fitness facility, and conference room, enhancing resident lifestyle and convenience.
- Modernized Interior Finishes
The kitchen has been recently updated with a new stainless steel hood, cooktop, and quartz countertops, while the primary bathroom also features newly installed quartz countertops and contemporary faucets, offering a fresh and appealing aesthetic.
CONSRISKS & DEFICIENCIES
- High Association Fees
The substantial monthly association fee of $2064.0 represents a significant ongoing cost that potential buyers must factor into their budget.
- Building Age
Built in 1976, the building is nearly 50 years old, which could imply potential future assessments or maintenance needs for the building's core systems and common areas, despite recent unit updates.
- Virtual Staging
The property was 'virtually staged,' meaning the actual appearance and feel of the space without furniture may differ from the marketing images, potentially setting different expectations for in-person viewings.
About 515 Ocean Avenue 504n
Southwest-facing residence with ocean, and Palisades Park views located in the prestigious Park Plaza. This light-filled home features an open floor plan with floor-to-ceiling walls of glass and sliding doors, an open kitchen, and a private laundry room. The kitchen was recently updated with a stainless steel hood and new cooktop, and both the kitchen and primary bathroom include newly installed quartz countertops and contemporary faucets. Multiple windows and doors open to a balcony that perfectly embodies the California indoor-outdoor lifestyle. The building offers a 24-hour concierge, security, pool, spa, fitness facility, and conference room. Ideally situated close to everything Santa Monica has to offer, including the Third Street Promenade, dining along Ocean Avenue, Montana Avenue shops, and Palisades Park. Property was virtually staged.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1976
- Lot Size
- 67,427 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $2064.0 / Month
Neighborhood Insights
Santa Monica Unified Schools
Roosevelt Elementary School
Grades K-5 • 0.6 mi
Lincoln Middle School
Grades 6-8 • 1.2 mi
Santa Monica High School
Grades 9-12 • 1.7 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,490 | 1,536 | 50% |
| Lot Size | 67,427 | 32,778 | 78% |
| Price | $2.20M | $2.07M | 61% |
| Price per sq ft | $1.5K | $1.4K | 67% |
| Built year | 1976 | 1975 | 56% |
| HOA | $2064.0 | $1.7K | 61% |
| Days on market | 109 | 185 | 17% |
Pricing History
Listed for Sale
Feb 28, 2026
$2,200,000
$2,395,000
-8% Price Drop
Initial Listing
Price Change
Nov 17, 2025
$2,395,000
Initial Listing
Sold
Apr 6, 2018
$416,500
Public Record