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928 26th Street, Santa Monica, California 90403, Santa Monica, 90403 - 3 bed, 2 bath

928 26th Street, Santa Monica, California 90403 home-pic-0
ACTIVE$3,549,000
928 26th Street, Santa Monica, California 90403
3Beds
2Baths
1,655Sqft
8,338Lot

Price Vs. Estimate

The estimated value ($3,494,662.89) is $54,337.11 (1%) lower than the list price ($3,549,000). This property may be overpriced.

Key pros and cons

Top Pros:
Advanced Permitting (RTI): Ready-To-Issue plans are at the final stage of city acceptance, drastically reducing development timelines and risk for a new custom build.
Top Cons:
Significant Construction Investment: The property's primary value is in its development potential, requiring a substantial multi-million dollar construction project beyond the initial purchase price.

Compared to the nearby listings

Price:$3.55M vs avg $3.55M (+$0)50%
Size:1,655 sqft vs avg 2,259 sqft33%
Price/sqft:$2.1K vs avg $1.6K80%

More Insights

Built in 1926 (99 years old).
Condition: The property was built in 1926, making it nearly 100 years old. While the listing emphasizes its potential as a development opportunity with ready-to-issue plans for a new, modern residence, it also states the existing home has a 'solid foundation' and 'could be a great place to live while you work on plans.' This indicates the current structure is functional and livable, but not modern. Given its age and the lack of specific details about recent renovations, it's highly probable that the kitchen, bathrooms, appliances, light fixtures, and other systems are significantly outdated and would require substantial updates to meet contemporary standards. The mention of 'virtually staged' photos further suggests the actual interior condition is not modern. Therefore, it fits the 'Fair' category, as it's aged but maintained, with major components functional but showing signs of being outdated, requiring minor to significant updates.
Year Built
1926
Close
-
List price
$3.55M
Original List price
$3.55M
Price/Sqft
$2,144
HOA
-
Days on market
-
Sold On
-
MLS number
25485949
Home ConditionFair
Features
Good View: Park/Greenbelt, Trees/Woods
ViewPark/Greenbelt, Trees/Woods

About this home

Exceptional Developer/Owner-User Opportunity in Santa Monica's Wilshire-Montana Neighborhood ! Presenting a rare and exciting opportunity to acquire an expansive 8,338 sq ft lot in the highly sought-after Wilshire-Montana area of Santa Monica. .The offering includes fully developed architectural and structural plans for a sophisticated, custom-built residence that seamlessly blends the indoors and outdoors. These meticulously designed plans encompass a luxurious 3,340 sq ft primary home with 4 bedrooms, 4 full bathrooms, and an expansive 945 sq ft ADU (Accessory Dwelling Unit) featuring 2 bedrooms, 3 full bathrooms, and a 400 sq ft garage. With the addition of a stunning swimming pool plans and beautifully landscaped ground plans this property is poised to become a masterpiece that embraces the best of Southern California living.Not only does this property come with detailed plans, but it also includes a soils report and surveys. The biggest advantage is that the RTI (meaning ready to issue)has already navigated the first approval process and are now at the final stage of acceptance with the City's Building and Safety division allowing you to move forward swiftly with construction.For those looking to enjoy the property in its current form, the existing home offers a solid foundation and space for family gatherings while could be a great place to live while you work on plans for the home of your dreams. Whether you're an investor looking to create a high-end rental or a family seeking a location to build your dream home, this site offers the perfect canvas. Located in the vibrant, evolving Wilshire-Montana neighborhood, just a short walk to the top Santa Monica schools, local shops, cafes, the Brentwood Farmers Market, and Douglas Park, this location promises a lifestyle of convenience, sophistication, and accessibility.Some of the photos are virtually staged.

Price History

Date
Event
Price
03/06/17
Sold
$1,725,000
Condition Rating
Fair
The property was built in 1926, making it nearly 100 years old. While the listing emphasizes its potential as a development opportunity with ready-to-issue plans for a new, modern residence, it also states the existing home has a 'solid foundation' and 'could be a great place to live while you work on plans.' This indicates the current structure is functional and livable, but not modern. Given its age and the lack of specific details about recent renovations, it's highly probable that the kitchen, bathrooms, appliances, light fixtures, and other systems are significantly outdated and would require substantial updates to meet contemporary standards. The mention of 'virtually staged' photos further suggests the actual interior condition is not modern. Therefore, it fits the 'Fair' category, as it's aged but maintained, with major components functional but showing signs of being outdated, requiring minor to significant updates.
Pros & Cons

Pros

Advanced Permitting (RTI): Ready-To-Issue plans are at the final stage of city acceptance, drastically reducing development timelines and risk for a new custom build.
Prime Santa Monica Location: Situated in the highly sought-after Wilshire-Montana neighborhood, offering excellent walkability to top schools, shops, cafes, and parks.
Expansive Developable Lot: An generous 8,338 sq ft lot in a prime Santa Monica location provides ample space for a substantial custom home and ADU.
Comprehensive Development Plans: Includes fully developed architectural and structural plans for a luxurious main residence, a substantial ADU, pool, and landscaping, offering a clear vision for a high-value property.
Versatile Opportunity: Appeals to both owner-users seeking to build a dream home and investors aiming for a high-end rental or resale project, with the existing home offering temporary living during construction.

Cons

Significant Construction Investment: The property's primary value is in its development potential, requiring a substantial multi-million dollar construction project beyond the initial purchase price.
Dated Existing Structure: The 1926-built home is likely a tear-down candidate, necessitating demolition costs and offering limited immediate utility beyond temporary occupancy.
Niche Buyer Pool: The opportunity primarily targets buyers with the financial capacity and expertise to undertake a large-scale custom build, which narrows the potential market.

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