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$8,500,000

Beds
29
Baths
24.0
sq ft
13,052

413 Ocean Ave, Santa Monica, CA 90402

413 Ocean Ave

Santa Monica, CA 90402

  • 414 days on market
    • Price drop $2,000,000↓
Breathtakingly located on a bluff overlooking the sparkling Pacific Ocean, 413 Ocean Avenue is an unprecedented opportunity to build your coastal dream estate (pending city approval) on Santa Monica’s prestigious Ocean Avenue. One of Los Angeles, California most Iconic locations. No one comes to LA without driving past this infamous stretch of the coast. This 11,202 SF lot with SMR4 zoning currently houses a 2-story, 13,052 SF structure previously utilized as an assisted living community. Built in 1959, this structure includes 29 individual suites, including 26 with balconies and ocean views, which is no longer operational. With tremendous view potential and a truly iconic location within easy walking distance of world-renowned shopping, dining & nightlife, 413 Ocean Avenue is the blank canvas your dreams have been waiting for. Whether your goals include multi-family redevelopment, a luxury condo development, land banking or a future dream home, this Santa Monica gem is the answer. Note: believe it or not, a second ocean-view property of similar size (11,257 SF) and opportunity is available just 4 blocks south at 825 Ocean Avenue. Take a look at both before deciding which of these bluff top beauties speaks to you the most.

Details

Property type

Mixed Use

Lot size

0.2574 acres

Price per sq ft

$652

Year built

1959

Price History

04/16/2024
CRMLS

CRMLS #SB23080738

Listed
$8,500,000
03/06/2024
CRMLS

CRMLS #SB23080738

Pending
$8,500,000
05/16/2023
CRMLS

CRMLS #SB23080738

Listed
$8,500,000

Schools & Community

Neighborhood: 

North of Montana

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Street Lights, Sidewalks

High school district: 

Santa Monica-Malibu Unified

Number of units in community: 

29

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Crosswind Mortgage Reit Lp

Loan start date

November 2023

Original loan amount

$7,000,000

Est. remaining balance

Not provided

Interest rate

7.19%

Loan type

Building or Construction Loan, 2 year

Seller

Bfg Santa Monica Propco Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Similar Homes Nearby

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CRMLS
$7,999,000
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|
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|
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825 Ocean Ave, Santa Monica, CA 90403

CLAW
$8,999,000
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|
7.5 ba
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House

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Price drop
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Status: Active

Tomo last checked: 07/03/2024 at 9:15 AM

Listing updated: 06/10/2024 at 3:33 PM

Listed by: Edward Kaminsky, eXp Realty of California, Inc Phone #: (310) 798-1277

MLS: CRMLS #SB23080738

CRMLS logo

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