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859 22nd Street, Santa Monica, California 90403, Santa Monica, 90403 - 2 bed, 2 bath

859 22nd Street, Santa Monica, California 90403 home-pic-0
ACTIVE UNDER CONTRACT$3,450,000
859 22nd Street, Santa Monica, California 90403
2Beds
2Baths
1,375Sqft
7,989Lot
Year Built
1925
Close
-
List price
$3.45M
Original List price
$3.7M
Price/Sqft
$2,509
HOA
-
Days on market
-
Sold On
-
MLS number
25545497
Home ConditionPoor
Features
View-

About this home

Possibly Over-Priced:The estimated price is 14% below the list price. We found 3 Cons,5 Pros. Rank: price - $3.45M(47th), sqft - 1375(20th), beds - 2(20th), baths - 2(33th).

Calling all developers, investors, and visionary homeowners. This is your chance to create something extraordinary. Situated on a stunning ~8,000 SF corner lot just south of Montana, this property is set in one of Santa Monica's most desirable neighborhoods and within coveted Franklin Elementary school district. Plan approval is imminent for a beautifully designed 4,407 SF - 5 bed, 6 bath custom home plus a 440 SF ADU. Enjoy tree-lined streets, world-class surroundings, and the rare opportunity to bring your dream home or high-end development project to life in one of L.A.'s most sought-after neighborhoods.

Price History

Date
Event
Price
02/27/24
Sold
$3,071,500
Condition Rating
Poor
The property, built in 1925, appears to be in need of substantial repairs. The listing mentions plan approval for a new construction, suggesting the existing structure is not in good condition. The images show a dilapidated backyard and an aging exterior, indicating significant deferred maintenance. The description targets developers and investors, further suggesting the existing structure's value is limited.
Pros & Cons

Pros

Prime Location: Located in one of Santa Monica's most desirable neighborhoods, just south of Montana.
Large Corner Lot: Situated on a stunning ~8,000 SF corner lot, offering ample space and potential.
Development Opportunity: Ideal for developers, investors, and visionary homeowners looking to create something extraordinary.
Approved Plans: Plan approval is imminent for a beautifully designed 4,407 SF custom home plus a 440 SF ADU.
School District: Located within the coveted Franklin Elementary school district.

Cons

Active Under Contract: The property is currently under contract, which may limit immediate availability.
Existing Structure: While offering development potential, the existing 1,375 sqft structure may require demolition or significant renovation.
Price Point: The list price of $3,450,000 reflects the land value and development potential, which may be a barrier for some buyers.

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