NOT LISTED FOR SALE

Park Plaza Condominiums 515 Ocean Ave Unit NPHC Santa Monica, CA 90402

North of Montana Neighborhood

Estimated Value: $5,023,000 - $9,064,000

3 Beds
4.5 Baths
3,175 Sq Ft
$2,983/mo HOA Fee

Last Sold December 20, 2017

Last sale price $6,550,000 $2,063 Per Sq Ft

Current estimated payment $45,674/month

55 Days on Market

Highlights

  • Concierge
  • White Water Ocean Views
  • Gated with Attendant
  • Roosevelt Elementary School Rated A+
  • Fitness Center
  • 3-minute walk to Palisades Park

About This Home

As of December 2017

Once in a lifetime opportunity to own the exclusive N/W corner Penthouse of Santa Monica's prestigious Park Plaza on Ocean Avenue. Only a few penthouses in Santa Monica can offer the breathtaking views, space & privacy offered here. First time on market (original owner), this penthouse features rare, unobstructed views of the ocean, Malibu, Santa Monica Mountains & the Santa Monica Pier. Floor-to-ceiling windows throughout capture stunning ocean/sunset views from each room. Large west facing balcony. The second balcony faces N/W, runs the length of the unit & has direct access into the kitchen/breakfast area, master bedroom & the two additional bedrooms (on-suite bathrooms). Unit features pantry/laundry room with separate service access. Building includes 24-hour concierge, security, valet, pool, spa, fitness facility and conference room. Located walking distance to chic Montana Ave. shops, restaurants, cafs, 3rd Street Promenade and Palisades Park. See pvt remarks for all showings.

Last Agent to Sell the Property

Brian Maser

The Condo Experts License #01340306 Listed on: 06/22/2017

Last Buyer's Agent

Brian Maser

The Condo Experts License #01340306 Listed on: 06/22/2017

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $84,987

Year Built

  • Built in 1976

Lot Details

  • 1.55

HOA Fees

  • $2,983 Monthly HOA Fees

Property Views

  • White Water Ocean
  • Coastline
  • Bay
  • Catalina
  • Panoramic
  • City Lights
  • Bluff
  • Mountain

Home Design

  • Contemporary Architecture

Interior Spaces

  • 3,175 Sq Ft Home
  • Bar
  • Gas Fireplace
  • Formal Entry
  • Family Room with Fireplace
  • Living Room with Fireplace
  • Dining Room
  • Home Theater
  • Home Office
  • Library
  • Bonus Room
  • Laundry Room

Kitchen

  • Breakfast Area or Nook
  • Breakfast Bar

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Walk-In Closet
  • Powder Room

Parking

  • 2 Car Garage
  • Side by Side Parking
  • Garage Door Opener
  • Circular Driveway
  • Gated Parking
  • Guest Parking
  • Controlled Entrance

Pool

  • Heated In Ground Pool
  • Exercise

Additional Features

  • Covered Patio or Porch
  • Central Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 4293-008-135

Community Details

Overview

  • 88 Units
  • 8-Story Property

Amenities

  • Concierge
  • Valet Parking
  • Meeting Room
  • Elevator
  • Service Entrance
  • Community Storage Space

Recreation

  • Fitness Center
  • Community Pool
  • Community Spa

Pet Policy

  • Pets Allowed

Security

  • Gated with Attendant
  • Resident Manager or Management On Site
  • Controlled Access

Property Details

Home Type

Condominium

Est. Annual Taxes

$84,987

Year Built

Built in 1976

Lot Details

0

HOA Fees

$2,983 per month

Listing Details

  • Property Type: Residential
  • Property Sub Type: Condominium
  • Style: Contemporary
  • Street Number Display: Yes
  • Complex Name: Park Plaza
  • Entry Floor: 8
  • Living Area: 3175
  • Planned Urban Dev: 0
  • Stories: 8
  • Unit Floor In Building: 8
  • Year Built: 1976
  • Number Of Photos: 54
  • State Abbrv: CA
  • Special Features: None

Interior Features

  • Fireplace Rooms: Family Room, Gas, Gas Starter, Living Room
  • Bedrooms: 3
  • Full Bathroom: 4
  • Half Bathroom: 1
  • Common Walls: Attached
  • One Quarter Bathrooms: 0
  • Three Quarter Bathrooms: 0
  • Dining Room: 1
  • Family Room: 1
  • Laundry: In Unit, Inside, Laundry Area
  • Total Bathrooms: 5.00
  • Den: 1
  • Price Per S Q F T: 2157.48

Exterior Features

  • Tennis Court Y/N: No
  • Pool Description: Association Pool, Community, Exercise Pool, Heated
  • Pool: Yes
  • View: Bay, Bluff, Catalina, City, City Lights, Coastline, Mountains, Ocean, Panoramic, Tree Top, Water, White Water
  • View: Yes

Garage/Parking

  • Covered Parking: 2
  • Parking Garage: Assigned, Circular Driveway, Community Garage, Controlled Entrance, Door Opener, Gated, Parking for Guests, Parking for Guests - Onsite, Side By Side, Subterranean
  • Total Parking: 2

Utilities

  • Cooling: Central
  • Earth Quake Ins: 1
  • Heating: Central
  • Security: Community, Gated Community with Guard, Resident Manager

Association/Amenities

  • Amenities: Assoc Maintains Landscape, Assoc Pet Rules, Concierge, Conference, Controlled Access, Elevator, Exercise Room, Extra Storage, Fitness Center, Gated Community, Gated Community Guard, Gated Parking, Meeting Room, Onsite Property Management, Pool, Spa, Valet Parking
  • Pet Rules: Yes

Condo/Co-op/Association

  • HOA Fee Frequency: Monthly
  • HOA Fees: 2983.00
  • HOA: Yes

Lot Info

  • Special Zoning: Property Report
  • Assessor Parcel Number: 4293-008-135
  • Geocode Override: No
  • Lot Size Area: 67408

Multi Family

  • Number Of Units: 88

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 22, 2017
Closed on
Dec 15, 2017
Sold by
Madjidi Farzin and Madjidi Betty
Bought by
Corkscrew Willow 1031 Llc
Seller's Agent
Brian Maser
The Condo Experts
Buyer's Agent
Brian Maser
The Condo Experts
List Price
$7,250,000
Sold Price
$6,550,000
Premium/Discount to List
-$700,000
-9.66%
Current Estimated Value
$6,535,445

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$14,555
Avg. Annual Appreciation
1.48%
Original Mortgage
$3,000,000
Outstanding Balance
$2,534,963
Interest Rate
3.9%
Mortgage Type
Seller Take Back
Estimated Equity
$4,795,597

Purchase Details

Closed on
Mar 14, 2016
Sold by
Madjidi Farzin and Madjidi Betty
Bought by
The 2006 Farzin Madjidi & Betty Madjidi

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,321,000
Interest Rate
3%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Aug 14, 2015
Sold by
Madjidi Farzin and Madjidi Betty
Bought by
2006 Farzin Madjidi and 2006 Betty Madjidi

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,331,550
Interest Rate
3.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 6, 2014
Sold by
Madjidi Farzin and Madjidi Betty
Bought by
Madjidi Farzin and Madjidi Betty

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,350,000
Interest Rate
4.87%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
May 3, 2006
Sold by
Madjidi Farzin
Bought by
Madjidi Farzin and Madjidi Betty
Source: Public Records

Range of Values:

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Average Value
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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
Corkscrew Willow 1031 Llc $6,550,000 Fidelity
The 2006 Farzin Madjidi & Betty Madjidi -- Equity Title Company
Madjidi Farzin -- Equity Title Company
2006 Farzin Madjidi -- Accommodation
Madjidi Farzin -- Lawyers Title
Madjidi Farzin -- Accommodation
Madjidi Farzin -- Equity Title
Madjidi Farzin -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Corkscrew Willow 1031 Llc $3,000,000
Previous Owner Madjidi Farzin $1,321,000
Previous Owner Madjidi Farzin $1,331,550
Previous Owner Madjidi Farzin $1,350,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2017 12/20/17 Sold $6,550,000 -4.4% $2,063 / Sq Ft
08/16/2017 08/16/17 Pending -- -- --
07/11/2017 07/11/17 Price Changed $6,850,000 -5.5% $2,157 / Sq Ft
06/22/2017 06/22/17 For Sale $7,250,000 -- $2,283 / 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 $84,987 $7,452,779 $4,551,316 $2,901,463
2024 $84,987 $7,306,647 $4,462,075 $2,844,572
2023 $83,634 $7,163,381 $4,374,584 $2,788,797
2022 $82,654 $7,022,923 $4,288,808 $2,734,115
2021 $80,723 $6,885,219 $4,204,714 $2,680,505
2019 $79,408 $6,681,000 $4,080,000 $2,601,000
2018 $74,736 $6,550,000 $4,000,000 $2,550,000
2017 $9,101 $736,539 $422,017 $314,522
2016 $8,780 $722,098 $413,743 $308,355
2015 $8,665 $711,253 $407,529 $303,724
2014 $8,549 $697,322 $399,547 $297,775
Source: Public Records

Agents Affiliated with this Home

  • Brian Maser

    Seller's Agent in 2017

    Brian Maser

    The Condo Experts

    (310) 460-7917

    1 in this area

    137 Total Sales

    Brian Maser
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About Park Plaza Condominiums

Map

Source: The MLS

MLS Number: 17-244294

The MLS

APN: 4293-008-135

California Los Angeles County Santa Monica 90402 North of Montana

515 Ocean Ave Unit NPHC, Santa Monica, CA

This home is located at 515 Ocean Ave Unit NPHC, Santa Monica, CA 90402 since 22 June 2017 and is currently estimated at $6,535,445, approximately $2,058 per square foot. This property was built in 1976. 515 Ocean Ave Unit NPHC 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.
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