
Santa Monica, California 90402
This property presents a Strong Value Opportunity with a List Price of $7,900,000—positioned well below the $8,711,682 Fair Market Value by 9%. This valuation gap offers $811,682 in Instant Equity for buyers capable of completing this architectural project. Featuring a Condition Rating of 5, the residence includes a structural steel frame and high-end materials in the prestigious Gillette Regent Square. Ideally located near Franklin Elementary (9/10), this is a high-reward acquisition for Custom Home Builders or Visionary Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 628 18th Street Subject | $7,900,000* List Price | 4 | 3 | 3,994 | $2,181 | - |
A 609 20th Street Sold | $5,995,000 | 3 | 2 | 2,434 | $2,463 | 0.2 mi |
B 506 Georgina Avenue Sold | $6,250,000 | 4 | 4 | 2,451 | $2,550 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property is currently an unfinished architectural shell under construction. Although the structure is brand new (2026), it lacks functional kitchens, bathrooms, and completed HVAC/electrical systems, requiring a full interior build-out to be habitable.
Elementary School: Franklin Elementary School (9/10).
Situated in one of Santa Monica's most prestigious neighborhoods, the property offers an expansive 8,951 sq ft lot within walking distance to Montana Avenue and top-rated schools like Franklin Elementary.
Designed by the renowned firm Minarc, the project features a high-quality structural steel frame and premium window packages already installed, significantly reducing the timeline for a custom architectural build.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3994, other record living area = 1930. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
As an unfinished project sold 'as-is,' the buyer assumes all responsibility for completion costs, contractor management, and navigating city approvals, which may lead to budget overruns.
The property is currently a construction site and uninhabitable, making it unsuitable for buyers requiring a move-in ready residence or those unable to manage a long-term development project.
Currently under construction. Rare opportunity to acquire a significant architectural project in Santa Monica's coveted Gillette Regent Square neighborhood. Set on an expansive 8,954 sq ft lot, this pre-completion offering presents the chance to take ownership of a residence already well underway in one of the Westside's most sought-after locations. Designed by renowned Santa Monica-based architectural firm Minarc, the property is being offered in its current unfinished state and features a structural steel frame, light-gauge steel interior partitions, and installed high-end window and door packages. Current approved plans call for a 4-bedroom, 3-bath residence of approximately 4,000 square feet, with a generous rear yard area that may accommodate additional outdoor amenities, subject to buyer verification and city approval. Buyers are advised to independently verify all plans, permits, specifications, and remaining scope of work. Further enhancing the opportunity, the sale includes an inventory of selected materials and components acquired for the project, including certain stone slabs, lighting fixtures, plumbing fixtures and appliances, together with a paid-for Solar Forward solar panel system. With substantial progress already completed, the property may appeal to buyers seeking the opportunity to bring their own vision and design preferences to the final stages of construction. Buyers may elect to explore working with the existing architect and construction team, subject to availability and separate agreement, or engage professionals of their choosing. Seller makes no representation regarding completion costs, timelines, or future approvals. Located just moments from Montana Avenue, premier dining, shopping, parks, and Santa Monica's iconic coastline, Gillette Regent Square remains one of the city's most desirable residential neighborhoods, known for its tree-lined streets, larger lot sizes, and architectural character. Opportunities to acquire a project of this scale and location are increasingly rare.
No exterior & parking available.
Grades PK-5 • 0.5 mi
Grades K-5 • 0.7 mi
Grades K-5 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.5 | 50% |
| Baths | 3.0 | 4.0 | 48% |
| Square foot | 3,994 | 2,739 | 72% |
| Lot Size | 8,954 | 8,691.5 | 65% |
| Price | $7.90M | $5.10M | 83% |
| Price per sq ft | $2.0K | $2.0K | 52% |
| Built year | 2026 | 1944 | 96% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 115 | 2% |
Jun 2, 2026
$7,900,000
Initial Listing
May 31, 1994
$650,000
Public Record