1124 7th Street

    Santa Monica, CA 90403
    • $2,550,000
    • STATUS: Active
    • ON SITE: 9 days
    • MLS #: 19444468
    UPDATED: 13 min ago
    $2,550,000
    • 2
      BEDS
    • 0.17
      ACRES
    • 1
      BATHS
    • 0
      1/2 BATHS
    • 1,256
      SQFT
    • $2,030
      $/SQFT
    Neighborhood:
    Type:
    Villa/Townhouse
    Built:
    1907
    County:
    Area:

    School Ratings & Info

    Description

    The subject property is a historical home with potential to rehabilitate the existing cottage on the property and add 3 units as per plans. The comparables used to evaluate the property are recent townhome sales in the area. The comparable with the most effective data to project a value is 954-956 A-C 5th St. This property had development potential at the time of sale, the existing historic home on the property was rehabilitated and the developer added 3 additional units all approximately the same size as our subject property's architectural assumptions. Condominiums in this highly desired pocket of Santa Monica sell for $2,500,000 on average, and a developer would have the opportunity to build 3 more units behind the existing cottage and later sell all four (4) condos for a total of $10,000,000. This is a huge spread and a great value-add opportunity for any developer to capitalize on the hot condominium market in Santa Monica.

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    ©2019 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The John Jay Group - Bennion Deville Homes. Based on information from the California Desert Association of Realtors as of 2019-03-25T17:36:31.763. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
    www.searchdesertrealestate.com/homes/92736413

    1124 7th Street Santa Monica, CA 90403

    • Price: $2,550,000
    • Status: Active
    • Updated: 13 min ago
    • MLS #: 19444468
    2
    Beds
    1
    Baths
    0
    ½ Baths
    0.17
    Acres
    1,256
    SQFT
    $2,030
    $/SQFT
    1907
    Built
    Neighborhood:
    Santa Monica
    County:
    Los Angeles
    Area:
    Santa Monica
    Property Description
    The subject property is a historical home with potential to rehabilitate the existing cottage on the property and add 3 units as per plans. The comparables used to evaluate the property are recent townhome sales in the area. The comparable with the most effective data to project a value is 954-956 A-C 5th St. This property had development potential at the time of sale, the existing historic home on the property was rehabilitated and the developer added 3 additional units all approximately the same size as our subject property's architectural assumptions. Condominiums in this highly desired pocket of Santa Monica sell for $2,500,000 on average, and a developer would have the opportunity to build 3 more units behind the existing cottage and later sell all four (4) condos for a total of $10,000,000. This is a huge spread and a great value-add opportunity for any developer to capitalize on the hot condominium market in Santa Monica.
    Exterior Features

    Building Style Cottage Carport Or Covered Spaces 0 Parking Other Private Pool YN No Spa Hot Tub YN No Total Other Spaces 0 Total Parking Spaces 0 View Yes

    Interior Features

    Bathrooms 1.00 Cooling Type Other Fireplace Yes Fireplace Location Other Flooring Other Furnished Unfurnished Heating Type Other Quarter Bathrooms 0 Rooms Other

    Property Features

    Annual Land Lease Amount 0.00 Disclosures Property As Is Green Certification Rating 0.00 Green Hta Index 0.00 Green Walk Score 0 Green Year Certified 0 Hoa Fee1 0.00 Hoa Fee2 0.00 Hoa YN No Lot Size Source (Other) MLS Claw Mls Property Subtype Single Family Attach Realtor Association Palm Springs Assocation Of Realtors Sale Type Standard Sale Senior Community No Square Footage Source Other Total Units In Complex 0

    Listing information © 2019 California Desert Association of Realtors.
    Listing provided courtesy of David Harrington of Matthews Real Estate Investment Services.
    ©2019 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The John Jay Group - Bennion Deville Homes. Based on information from the California Desert Association of Realtors as of 2019-03-25T17:36:31.763. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
     
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