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Jorge Merlos
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1124 7TH Street, Santa Monica, CA 90403 (MLS # 19444468)

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PRICE $2,550,000
BEDS 2
BATHS 1 full
HOME SIZE 1,256 sq ft
LOT SIZE 7,511 sqft

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.

DAYS ON MARKET 7 LAST UPDATED 3/15/2019
YEAR BUILT 1907 COMMUNITY Santa Monica
COUNTY Los Angeles STATUS Active
PROPERTY TYPE(S) Residential, Single Family Residence


ADDITIONAL DETAILS
ARCHITECTURALSTYLE Cottage
BATHROOMSFULL 1
BATHROOMSHALF 0
BATHROOMSONEQUARTER 0
BATHROOMSTHREEQUARTER 0
CITY Santa Monica
COOLING See Remarks
COUNTYORPARISH Los Angeles
FIREPLACEFEATURES See Remarks
FLOORING See Remarks
HEATING See Remarks
LAUNDRYFEATURES See Remarks
LISTAGENTAOR CLAW
LISTAGENTSTATELICENSE 01320460
LOTSIZEUNITS Square Feet
MAJORCHANGETYPE New Listing
MLSAREAMAJOR C14 - Santa Monica
PARCELNUMBER 4292005004
PARKINGFEATURES Other
POOLFEATURES None
PRICEPERSQUAREFOOT 2030.25
PROPERTYSUBTYPE Single Family Residence
PROPERTYTYPE Residential
ROOMTYPE See Remarks
SPAFEATURES None
SPECIALLISTINGCONDITIONS Standard
STANDARDSTATUS Active
STATEORPROVINCE CA
STREETSUFFIX Street
VIEW See Remarks

ZESTIMATE
$2722681  1124 7TH Street, Santa Monica, CA

RENT ZESTIMATE
$7500 / mo.  1124 7TH Street, Santa Monica, CA

88 Very Walkable



 
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Listing provided by : David Harrington License # 01320460, Matthews Real Estate Investmen

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 3/21/19 11:34 PM PDT 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. Properties may or may not be listed by the office/agent presenting the information