515 Ocean Avenue Nph B, Santa Monica, California 90402, Santa Monica, 90402 - 2 bed, 4 bath
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Santa Monica, California 90402
This Renovated Luxury Penthouse is a Strong Value Opportunity, listed at $6,900,000—positioned well below the $7,343,970 Fair Market Value by 6%. This valuation gap offers $443,970 in Instant Equity for buyers. Featuring a High-End Condition Rating, the residence showcases Panoramic Coastal Views, a Chef's Kitchen, and proximity to Top-Rated Schools including Roosevelt Elementary and Lincoln Middle. While monthly fees are high, the expansive 3,175 sqft layout and full-service amenities define elite coastal living. This is an ideal acquisition for Luxury Owner-Occupants or Discerning Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 515 Ocean Avenue Nph B Subject | $6,900,000* List Price | 2 | 4 | 3,175 | $2,313 | - |
A 101 Ocean Avenue B200 Sold | $7,000,000 | 3 | 3 | 2,920 | $2,397 | 0.4 mi |
B 401 Ocean Avenue 2 Active | $7,995,000 List Price | 4 | 6 | 3,655 | $2,187 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
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.
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.
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.
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.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3175, other record living area = 1900.
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.
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.
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.
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 | 4.0 | 2.5 | 94% |
| Square foot | 3,175 | 1,583.5 | 94% |
| Lot Size | 67,427 | 38,613.5 | 61% |
| Price | $6.90M | $2.13M | 89% |
| Price per sq ft | $2.2K | $1.4K | 89% |
| Built year | 1976 | 1976 | 50% |
| HOA | $4582.0 | $2.2K | 94% |
| Days on market | 61 | 207 | 11% |
Feb 20, 2026
$6,900,000
Initial Listing
Aug 16, 2024
$2,200,000
Public Record
Oct 4, 2023
$2,098,000
Public Record
Feb 27, 2004
$1,195,000
Public Record
Aug 28, 1998
$635,000
Public Record