943 Princeton Street, Santa Monica, California 90403, Santa Monica, 90403 - 2 bed, 2 bath
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Santa Monica, California 90403
This Premier Development Asset enters the market at $3,649,000, representing a rare opportunity in Santa Monica’s prestigious Collegiate Street neighborhood. While the price reflects a premium for the land value relative to the $3,377,580 Fair Market Value, the investment relies on the oversized 8,665 sqft lot and rare dual alley access, which offers significant ADU potential. With a Condition Rating of 4, the property includes a patio but primarily serves as a foundation for a custom estate. Located near top-rated Santa Monica schools, this is a strategic acquisition for Developers or Luxury Home Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 943 Princeton Street Subject | $3,649,000* List Price | 2 | 2 | 1,633 | $2,068 | - |
A 2832 Washington Sold | $2,833,000 | 2 | 2 | 1,455 | $1,947 | 0.2 mi |
B 2832 Washington Avenue Sold | $2,675,000 | 2 | 2 | 1,455 | $1,838 | 0.1 mi |
C 928 26th Street Active | $3,275,000 List Price | 3 | 3 | 1,655 | $1,979 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is well-maintained and described as 'very livable,' but it is fundamentally outdated. While it underwent updates in the 1990s and early 2000s, including the kitchen and custom cabinetry, these renovations are now 20 to 30 years old. The interior features, such as the honey-oak built-ins and older light fixtures, meet the 'Fair' criteria of being functional but showing significant signs of age without recent modern updates.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8665, living area = 1633.
Situated in the prestigious Collegiate Street neighborhood, the property offers proximity to Montana Avenue, top-rated schools, and luxury amenities, ensuring high demand and long-term value.
The oversized 8,665 square foot lot features rare dual alley access, providing a perfect canvas for a custom luxury estate or a primary residence with a high-value ADU.
While livable, the 1947 structure with early 2000s updates lacks modern luxury finishes and layout, likely requiring a full renovation or teardown to maximize the site's potential.
With a list price of over $3.6 million, the acquisition cost is substantial for a project that primarily offers land value, potentially tightening margins for developers.
Never before on the open market! Set on a prime parcel in Santa Monica's Collegiate Street neighborhood, 943 Princeton Street presents an exceptional opportunity in an A+ Westside location. What makes this property so desirable is the oversized 8,665 square foot lot - perfect for those looking to design and build a custom dream home or for developers seeking a premier site in a high-demand market. With alley access on two sides of the property, this opens an excellent opportunity for an ADU with it's own exclusive parking and access points (to be verified by Buyer). The 2 bedroom, 2 bathroom home was built in 1947 but went through remodels/updates in the 90's and early 2000's including the kitchen and custom cabinetry. The home is very livable and workable for a Buyer looking to do a smaller project. Perfectly positioned just minutes from Montana Avenue, the iconic Brentwood Country Mart, Wilshire Boulevard's renowned shops and restaurants, the beach, and Santa Monica Pier, this address offers the quintessential Santa Monica lifestyle. The property is also located within highly rated Santa Monica schools, further enhancing its long-term value. Surrounded by established luxury homes and new construction, this is a rare chance to renovate, redesign, or build new in a neighborhood where location truly defines the investment. 943 Princeton Street delivers the foundation for something truly exceptional in one of the Westside's most prestigious enclaves
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 38% |
| Baths | 2.0 | 3.0 | 38% |
| Square foot | 1,633 | 1,920.5 | 38% |
| Lot Size | 8,665 | 7,880.5 | 75% |
| Price | $3.65M | $3.49M | 50% |
| Price per sq ft | $2.2K | $1.8K | 88% |
| Built year | 1947 | 1938 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 16 | 158 | 6% |
Apr 6, 2026
$3,649,000
Initial Listing