928 26th Street, Santa Monica, California 90403, Santa Monica, 90403 - 3 bed, 3 bath
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Santa Monica, California 90403
This shovel-ready development asset represents a High-Potential Investment Opportunity with a List Price of $3,275,000—positioned well below the $3,415,246 Fair Market Value by 4%. This valuation gap secures $140,246 in Instant Equity for buyers bypassing the complex entitlement process. While the 1926 structure carries a Condition Rating of 4, the value is anchored by RTI permits for a 4,285 total SF estate on a 8,312 sq ft lot. Located near Franklin Elementary, this high-yield project is ideal for Developers or Luxury Home Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 928 26th Street Subject | $3,275,000* List Price | 3 | 3 | 1,655 | $2,049 | - |
A 2832 Washington Sold | $2,833,000 | 2 | 2 | 1,455 | $1,947 | 0.1 mi |
B 2832 Washington Avenue Sold | $2,675,000 | 2 | 2 | 1,455 | $1,838 | 0.2 mi |
C 943 Princeton Street Active | $3,649,000 List Price | 2 | 2 | 1,633 | $2,235 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property features a 1926 original home that is described as livable and appears well-maintained from exterior aerial views, but it is significantly outdated. While the listing includes modern renderings for a future development project with RTI permits, the current structure lacks recent renovations and represents an aged home maintained through regular upkeep.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8312, living area = 1655.
The property comes with RTI (Ready-to-Issue) permits for a 3,340 SF main residence and a 945 SF ADU, allowing builders to bypass the lengthy and complex Santa Monica entitlement process.
Situated just steps from Montana Avenue and within the Franklin Elementary school district, the property is located in one of the Westside's most prestigious and high-demand neighborhoods.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1655, other record living area = 1255. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
At over $3.275M, the purchase price is primarily for the land and permits, requiring a buyer with significant additional capital to execute the construction project.
While the current 1926 home is livable, the property's highest and best use requires a full-scale development project, which may not appeal to buyers looking for a move-in ready residence.
Located just steps from Montana Ave, this is a rare shovel-ready, approved demolition-ready opportunity in Santa Monica's coveted North of Wilshire within the Wilshire Montana neighborhood. Builders, developers, and end users can take advantage of the RTI permits already in place, or live in the current home and renovate or reimagine what exists today. Set on an 8,312 sq ft lot, the property comes with RTI permits for a 3,340 sq ft main residence with 4 bedrooms and 4 bathrooms, plus a 945 sq ft ADU with 2 bedrooms and 3 bathrooms, totaling 4,285 sq ft, in addition to a 400 sq ft garage, pool, and landscaped grounds. Final approvals are underway, allowing for an expedited path to construction. Surrounded by multi million dollar homes and located near Franklin Elementary and Santa Monica's top schools, this offering presents an exceptional opportunity to build a premier estate or develop for resale in one of the Westside's most desirable neighborhoods. Image shown is a rendering for illustrative purposes only. The completed residence may vary in design, finishes, and features.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,655 | 1,920.5 | 38% |
| Lot Size | 8,312 | 7,880.5 | 69% |
| Price | $3.27M | $3.33M | 44% |
| Price per sq ft | $2.0K | $1.8K | 75% |
| Built year | 1926 | 1937 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 57 | 159 | 25% |
Feb 24, 2026
$3,275,000
Initial Listing
Mar 6, 2017
$1,725,000
Public Record