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2823 2nd St, Santa Monica, CA, 90405

$6,850,000

12 Bedrooms
12 Baths
House
Schools Nearby

Location

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Property Highlights

Home TypeOther
ParkingPermit Required
MLS #24371870
Lot Size0.30 Acres
StatusActive

About 2823 2nd St

INCLUDES TO-BE-BUILT 3 PERMIT READY ADUs! CBRE, as exclusive agent, is pleased to present for sale an exceptionally located Santa Monica value-add opportunity comprised of 12 existing apartment units, together with approved and permit-ready plans to build three accessory dwellings units (ADUs), for a potential total of 15 apartment units, walking distance to the Pacific Ocean. Located at the northeast corner of 2nd Street and Ashland Avenue in Santa Monica's Main Street neighborhood, 2823 2nd Street includes an existing 12-unit apartment property, of which four units were recently gut renovated and completely modernized with copper plumbing, tankless water heaters, mini-split HVACs in the living rooms and bedrooms, and in-unit washer/dryers, among other upgrades. The Seller also made capital improvements to the property including a new electrical panel with individual meters, new landscaping, and new wrought iron fencing. Of the remaining eight unrenovated units, two will be delivered vacant at the close of escrow. As well, Seller obtained Architectural Review Board and Building Department approval to add a 450 square foot patio space for Unit G (a vacant second-story unit). The Seller also secured pre-approval to build another 450 square foot patio space for Unit H (the other second-story unit) in the future. Additionally, Seller procured entitlements to build three ADUs. Each of these ADUs would be one bedroom and one bathroom. The ADUs will replace an existing garage structure on Ashland Avenue, which was previously leased out as nine storage spaces. The storage spaces will be delivered vacant at the close of escrow and are not subject to any leases. A buyer may choose to either build out the three ADUs or may choose to lease out the nine storage spaces for additional income. Renovated Units Feature: Copper Plumbing, Tankless Water Heaters, Mini Split HVAC in Living Room & Bedroom, In-Unit Washer/Dryer, Recessed Lighting, New or Refinished Flooring Throughout, Beautiful White Cabinetry and Quartz Countertops in Kitchen & Bathroom, New Stainless Steel Appliances Including, Cooktop, Oven, Refrigerator, Dishwasher & Microwave, Renovated Bathrooms with Walk-In Showers, New Fixtures in Kitchens & Bathrooms, Low-Profile Ceiling Fans, New Windows & Blinds and New Electrical Subpanels with Upgraded Wiring Throughout. Non-renovated Units Feature: Separate Water Heaters, Hardwood Floors and Gas Stoves. Property Features Include: New Wrought Iron Fence Around Perimeter of Property, New Stamped Concrete Pavers in the Courtyard, New Electrical Panel with Individual Meters (400A), Newly Painted Exterior and New Landscaping. Offers Due: Friday, April 19, 2024 by 5 p.m.

Property Details

Property Features

Property Information:

  • Stories: 2

Listing Office:

  • Office Name: Laurie J. Lustig
  • Office Phone: (310) 550-2500
  • Listing Agent: Laurie Lustig

Interior Features

Bedroom and Bathroom Information:

  • Total Bedroom Count: 12

Exterior Features

Parking Information:

  • Attached Garage: No
  • Parking: Permit Required

Lot Features

Lot Information:

  • Lot Size: 0.30 Acres

School Info

Assigned Schools Information:

  • Santa Monica High School, Public District Grades 9-12
  • John Adams Middle School, Public District Grades 6-8
  • John Muir Elementary School, Public District Grades KG-5

Other

Directions Information:

  • Directions: Main Street Neighborhood

Price Information

Listing Price Info

Price Summary:

  • List Price: $6,850,000

Tax Information:

  • Annual Amount: $48,696
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Santa Monica, CA.

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Santa Monica, CA

City

Med. Sold Price

$1.7M

Med. Price/SqFt

$1,109

Avg. Days On Market

45

# of Sold Homes

35

2823 2nd St vs Santa Monica

35 DAYS ON ROCKET

-10 Days

$6,850,000

+$5.0M More

KEY TAKEAWAY

This property is $5.0M more than the Median Sold Price in Santa Monica, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24371870

Listing Office:

  • Office Name: Laurie J. Lustig
  • Office Phone: (310) 550-2500
  • Listing Agent: Laurie Lustig

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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 or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/27/2024, 8:20:24 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jul 29, 2020Home Sold
$4,000,000
Dec 10, 1993Home Sold
$106,000

Tax History

YEARPROP. TAXASSESSMENT
2021$48,696$4,000,000
2020$11,498$808,608
2019$10,722$792,754
2018$10,616$777,211
2017$10,616$761,972

History based on county public records data.

Payment Calculator

$34.2K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$20.6K

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-1105060
6
/10

  • John Muir Elementary School

  • 2526 6th St

  • 0.37 miles

  • Public District Grades KG-5

Middle School

school-card-donut-1105061
7
/10

  • John Adams Middle School

  • 2425 16th St

  • 1.09 miles

  • Public District Grades 6-8

High School

school-card-donut-1105062
9
/10

  • Santa Monica High School

  • 601 Pico Blvd

  • 0.81 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $68,172. Typical income of Santa Monica, CA residents is between $35k-100k annually. Most families are single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 2823 2nd St

What is the listing price of this property?

The listing price of 2823 2nd St property is $6,850,000.

What type of property is this?

The property 2823 2nd St is a house located in Santa Monica, California, 90405.

Is this property for sale now?

Active Listing: 2823 2nd St is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 2823 2nd St are:
John Muir Elementary School: GreatSchools Rating 6/10
John Adams Middle School: GreatSchools Rating 7/10
Santa Monica High School: GreatSchools Rating 9/10

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $48,696 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on July 29, 2020 for $4,000,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 2823 2nd St has 12 bedrooms and 12 bathrooms.
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Rocket Homes›California›Los Angeles County›Santa Monica›90405›2823 2nd St

This home is located at 2823 2nd St in Santa Monica, CA and zip code 90405 in the Ocean Park neighborhood. This home sits on a 0.30 acre lot. Features: 12 bedrooms, 12 bathrooms. It has been listed on Rocket Homes since March 23, 2024 and is currently priced at $6,850,000.

In March 2024, from all listings sold in Santa Monica, CA there were more than 13 sold above asking price, over 19 sold below and more than 3 were sold right at the asked price. The inventory of homes for sale in Santa Monica, CA between February 2024 and March 2024 increased by 22.3%. In March 2024, listings were on the market for 45 days. During the same period, the median list price in this real estate market was $1,790,666.

From Rocket Homes Real Estate and based on county public records data.

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