515 Ocean Avenue Nph B, Santa Monica, California 90402, Santa Monica, 90402 - 2 bed, 4 bath
515 Ocean Avenue Nph B
Santa Monica, California 90402
Property Price
SUMMARY
Analysis of 515 Ocean Avenue Nph B, Santa Monica, California 90402 is currently available with a list price of $6,900,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. 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 new construction or fully renovated.
Although the building was constructed in 1976, this penthouse has undergone an extensive high-end renovation within the last few years. The property features a contemporary chef's kitchen with premium integrated appliances, modern cabinetry, and stone surfaces. The bathrooms are updated with luxury fixtures, and the unit boasts high-quality flooring, floor-to-ceiling glass walls, and custom built-ins throughout, meeting the highest current quality standards for a luxury residence.
PROSSTRENGTHS & OPPORTUNITIES
- Panoramic Coastal Views
This southwest-facing penthouse offers breathtaking, unobstructed views of the Pacific Ocean, mountains, and city lights through floor-to-ceiling glass walls and an expansive wrap-around balcony.
- Expansive Luxury Layout
With over 3,100 square feet of living space, the residence features a rare open floor plan with a chef's kitchen, library, and versatile bonus space, providing a scale of living typically found in single-family homes.
- Elite Full-Service Amenities
Located in the prestigious Park Plaza, residents enjoy 24-hour concierge, security, and resort-style facilities including a pool, spa, and fitness center in a prime Ocean Avenue location.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3175, other record living area = 1900.
- High Monthly Carrying Costs
The association fee of $4,582 per month is significantly high, which may deter buyers concerned with long-term overhead or those comparing the property to lower-HOA alternatives.
- Limited Bedroom Count
Despite the large square footage and nearly $7 million price point, the property only offers two bedrooms, which may limit its appeal to families or buyers requiring more private suites.
About 515 Ocean Avenue Nph B
A rare penthouse offering on Ocean Avenue in the prestigious Park Plaza, this southwest-facing residence showcases breathtaking ocean, mountain, and city views. Natural light pours into this expansive two-bedroom, four-bath home with a versatile bonus space. Designed for both comfort and entertaining, the open floor plan features floor-to-ceiling walls of glass and sliding doors, custom built-ins, and a private laundry room. The chef's kitchen flows seamlessly into the dining area, living room, and library with wet bar. Multiple doors open to a wrap-around balcony that captures the essence of the California indoor-outdoor lifestyle, perfect for enjoying coastal breezes and sunset views. Residents enjoy full-service amenities including 24-hour concierge, security, pool, spa, fitness center, and conference facilities. Ideally located near Ocean Avenue dining, the Third Street Promenade, Montana Avenue boutiques, and Santa Monica's finest coastal attractions. 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
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $4582.0 / 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 | 4.0 | 2.0 | 94% |
| Square foot | 3,175 | 1,583.5 | 94% |
| Lot Size | 67,427 | 32,778 | 78% |
| Price | $6.90M | $2.07M | 89% |
| Price per sq ft | $2.2K | $1.4K | 89% |
| Built year | 1976 | 1975 | 56% |
| HOA | $4582.0 | $1.7K | 94% |
| Days on market | 14 | 185 | 6% |
Pricing History
Listed for Sale
Feb 20, 2026
$6,900,000
Initial Listing
Sold
Aug 16, 2024
$2,200,000
Public Record
Sold
Oct 4, 2023
$2,098,000
Public Record
Sold
Feb 27, 2004
$1,195,000
Public Record
Sold
Aug 28, 1998
$635,000
Public Record