NOT LISTED FOR SALE

1401 Palisades Beach Rd Santa Monica, CA 90401

Downtown Santa Monica Neighborhood

Estimated Value: $6,756,538

9 Beds
11 Baths
4,780 Sq Ft
$1,414/Sq Ft Est. Value

Last Sold March 03, 2022

Last sale price $6,250,000 $1,308 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $42,346/month

218 Days on Market

Highlights

  • Spa
  • Card or Code Access
  • Gated Home
  • Roosevelt Elementary School Rated A+

About This Home

As of March 2022

1401 Palisades Beach Rd is located on the sand of Santa Monica Beach. Offering investors a once-in-a-lifetime opportunity to reposition a 11-unit building with an attractive unit mix. Steps from world famous Santa Monica Pier, 3rd Street Promenade and Montana Avenue. The property has 1920s charm with modern updates, hardwood flooring, lots of natural light and breathtaking ocean views. The large beach front patio has a fully functioning kitchen including Viking grill and stainless steel appliances. Only blocks from bustling Santa Monica Blvd and the Pacific Ocean, this desirable location earns a Walk Score of 91. Tenants can enjoy the amenities of Third Street Promenade boutique shops, dining and nightlife. 15 minute walk to the new Santa Monica Expo, allowing access to areas all over LA County. With it's convenient Westside location Santa Monica is hub for world-class tech, e-commerce, media & entertainment companies. Delivered vacant with 22 parking spaces.

Last Agent to Sell the Property

Kimberly Roberts Stepp

Keller Williams Beverly Hills License #01251767 Listed on: 02/01/2021

Keller Williams Beverly Hills

Last Buyer's Agent

Jason Vogel

License #01815890

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $76,181

Year Built

  • Built in 1912

Lot Details

  • 4,763 Sq Ft Lot
  • Gated Home

Interior Spaces

  • 4,780 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 11 Bathrooms

Pool

  • Spa

Listing and Financial Details

  • Assessor Parcel Number 4291-031-008

Community Details

Overview

  • 2 Buildings
  • 11 Units

Security

  • Card or Code Access

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$76,181

Year Built

Built in 1912

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 4780
  • Lot Acreage: 0.1094
  • Stories: 2
  • Year Built: 1912
  • Number Of Photos: 12
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 9
  • Total Bathrooms: 11.00
  • Price Per S Q F T: 1516.74

Exterior Features

  • Other Structures: None
  • Spa: Hot Tub
  • Spa Yn: Yes

Utilities

  • Security: Gated, Card/Code Access

Lot Info

  • Assessed Improvement Percent: 18.87
  • Assessed Improvement Value: 1056244
  • Assessed Land Percent: 81.13
  • Assessed Land Value: 4541854
  • Total Assessed Value: 5598098
  • Assessor Parcel Number: 4291-031-008
  • Lot Size Area: 4763

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 16.95
  • Number Of Units: 11
  • Total Annual Expense: 128723
  • Type Of Units: Apartments
  • Vacancy Rate: 100%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 13, 2023
Sold by
Dd44 Plus Trust and Meyer Michael L
Bought by
Ocean Front Guesthouse Llc
Current Estimated Value
$6,756,538

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,600,000
Outstanding Balance
$794,660
Interest Rate
7.44%
Mortgage Type
Credit Line Revolving
Estimated Equity
$5,935,047

Purchase Details

Listed on
Feb 1, 2021
Closed on
Feb 22, 2022
Sold by
1401 Palisades Beach Associates Llc
Bought by
Dundee Trust
Seller's Agent
Kimberly Roberts Stepp
Keller Williams Beverly Hills
Buyer's Agent
Jason Vogel
List Price
$7,250,000
Sold Price
$6,250,000
Premium/Discount to List
-$1,000,000
-13.79%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.11%
Original Mortgage
$2,000,000
Interest Rate
3.69%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 15, 2021
Sold by
1401 Palisades Beach Associates
Bought by
1401 Palisades Beach Associates Llc

Purchase Details

Listed on
Sep 6, 2013
Closed on
May 1, 2014
Sold by
Ocean Front Apartments Llc
Bought by
1401 Palisades Beach Associates
Seller's Agent
Laura Kalb
Compass
Buyer's Agent
Laura Kalb
Compass
List Price
$5,500,000
Sold Price
$5,300,000
Premium/Discount to List
-$200,000
-3.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.14%
Original Mortgage
$3,445,000
Interest Rate
4.27%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 19, 2007
Sold by
Edwards William L
Bought by
Edwards William L and The William L Edwards Trust

Purchase Details

Closed on
May 3, 2007
Sold by
Edwards William L
Bought by
Ocean Front Apartments Llc

Purchase Details

Closed on
Sep 26, 2006
Sold by
Weiner David
Bought by
Edwards William L

Purchase Details

Closed on
Aug 19, 2005
Sold by
Goldstein George and Goldstein Tina
Bought by
Weiner David

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,980,000
Interest Rate
5.66%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 14, 2004
Sold by
Goldstein Tina and Hagen Tina
Bought by
Goldstein George and Goldstein Tina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,775,000
Interest Rate
5.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 18, 2002
Sold by
1401 Palisades Beach Road Partners
Bought by
Hagen Tina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,320,000
Interest Rate
6.12%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Ocean Front Guesthouse Llc -- Chicago Title Company
Dundee Trust $6,250,000 First American Title Company O
1401 Palisades Beach Associates Llc -- None Available
1401 Palisades Beach Associates $5,300,000 Chicago Title Company
Edwards William L -- None Available
Ocean Front Apartments Llc -- Accommodation
Edwards William L -- Ticor Title Company
Weiner David $3,300,000 First American Title Company
Goldstein George -- Fidelity National Title Co
Hagen Tina $1,760,000 California Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ocean Front Guesthouse Llc $3,600,000
Previous Owner Dundee Trust $2,000,000
Previous Owner 1401 Palisades Beach Associates $3,445,000
Previous Owner Weiner David $500,000
Previous Owner Weiner David $1,980,000
Previous Owner Goldstein George $1,775,000
Previous Owner Hagen Tina $1,320,000
Previous Owner 1401 Palisades Beach Road Partners $650,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/03/2022 03/03/22 Sold $6,250,000 -13.8% $1,308 / Sq Ft
09/07/2021 09/07/21 Pending -- -- --
02/01/2021 02/01/21 For Sale $7,250,000 +36.8% $1,517 / Sq Ft
06/05/2014 06/05/14 Sold $5,300,000 -3.6% $1,109 / Sq Ft
02/25/2014 02/25/14 Pending -- -- --
09/06/2013 09/06/13 For Sale $5,500,000 -- $1,151 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $76,181 $6,632,550 $4,642,785 $1,989,765
2024 $76,181 $6,502,500 $4,551,750 $1,950,750
2023 $74,970 $6,375,000 $4,462,500 $1,912,500
2022 $75,900 $6,375,000 $5,355,000 $1,020,000
2021 $71,240 $6,002,288 $4,869,783 $1,132,505
2020 $70,764 $5,943,260 $4,819,850 $1,123,410
2019 $70,083 $5,826,776 $4,725,344 $1,101,432
2018 $65,957 $5,712,576 $4,632,691 $1,079,885
2016 $63,585 $5,488,333 $4,452,799 $1,035,534
2015 $62,777 $5,405,894 $4,385,914 $1,019,980
2014 -- $4,153,156 $3,278,809 $874,347
Source: Public Records

Agents Affiliated with this Home

  • Kimberly Roberts Stepp

    Seller's Agent in 2022

    Kimberly Roberts Stepp

    Keller Williams Beverly Hills

    (310) 482-2200

    1 in this area

    12 Total Sales

    Kimberly Roberts Stepp
    Section Image

  • J

    Buyer's Agent in 2022

    Jason Vogel

  • Laura Kalb

    Seller's Agent in 2014

    Laura Kalb

    Compass

    (818) 371-9350

    13 Total Sales

    Laura Kalb
    Section Image
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Map

Source: The MLS

MLS Number: 21-685982

The MLS

APN: 4291-031-008

California Los Angeles County Santa Monica 90401 Downtown Santa Monica

1401 Palisades Beach Rd, Santa Monica, CA

This home is located at 1401 Palisades Beach Rd, Santa Monica, CA 90401 since 01 February 2021 and is currently estimated at $6,756,538, approximately $1,413 per square foot. This property was built in 1912. 1401 Palisades Beach Rd is a home located in Los Angeles County with nearby schools including Roosevelt Elementary School, Lincoln Middle School, and Santa Monica High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for 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 not guaranteed.

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