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101 Larkin Place, Santa Monica, California 90402, Santa Monica, 90402 - 3 bed, 2 bath

101 Larkin Place, Santa Monica, California 90402 home-pic-0
ACTIVE$5,995,000
101 Larkin Place, Santa Monica, California 90402
3Beds
2Baths
1,836Sqft
10,343Lot
Year Built
1950
Close
-
List price
$6M
Original List price
$6M
Price/Sqft
$3,265
HOA
-
Days on market
-
Sold On
-
MLS number
25489499
Home ConditionTear down
Features
Good View: City Lights
Patio
ViewCity Lights

About this home

Possibly Over-Priced:The estimated price is 24% below the list price. We found 3 Cons,6 Pros. Rank: price - $6.00M(60th), sqft - 1836(14th), beds - 3(38th), baths - 2(21th).

Rare opportunity to reimagine or create your dream home in one of Santa Monica's most sought-after neighborhoods. Tucked away at the end of a serene cul-de-sac, this classic Mid-Century ranch is ideally positioned to embrace the best of Westside living. Enjoy unparalleled convenience to the vibrant shops and restaurants of Montana Avenue, the scenic Santa Monica coastline, Third Street Promenade, Riviera Country Club, and more. Set on an expansive 10,343-square-foot lot, the existing single-story home boasts nearly 2,000 square feet of bright and airy living space, offering many possibilities for restoration. Additionally, there is potential to build a brand new residence of up to approximately 10,000 square feet. With its prime location and generous lot size, this is a rare opportunity to craft a custom sanctuary in the heart of Santa Monica.

Price History

Date
Event
Price
09/20/22
Sold
$4,260,000
Condition Rating
Tear down
Built in 1950, this 74-year-old property is explicitly marketed as an 'opportunity to reimagine or create your dream home' with 'potential to build a brand new residence.' The images reveal an extremely outdated kitchen with old cabinets, worn countertops, and dilapidated flooring, along with worn hardwood floors and poor window conditions in other areas. The overall state suggests the existing structure is beyond practical renovation for modern living and is primarily valued for its land and redevelopment potential.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10343, living area = 1836.
Prime Location: Situated in one of Santa Monica's most sought-after neighborhoods, offering unparalleled convenience to Montana Avenue, the coastline, Third Street Promenade, and Riviera Country Club.
Development Potential: Exceptional opportunity to build a new, custom residence of up to approximately 10,000 square feet, maximizing the value of the expansive lot.
Expansive Lot Size: Generous 10,343-square-foot lot, providing ample space for significant development or a luxurious private sanctuary.
Cul-de-sac Location: Tucked away at the end of a serene cul-de-sac, offering enhanced privacy and reduced traffic.
City Lights View: The property boasts desirable city lights views, adding to its aesthetic appeal and potential value.

Cons

Significant Overpricing: The listing price of $5.995M is 24% above the estimated property value of $4.498M, indicating a substantial premium.
Condition Requires Major Investment: The existing 1950 Mid-Century ranch is presented as an opportunity for 'restoration' or to 'reimagine,' implying significant additional investment is required for renovation or a complete rebuild.
Age of Existing Structure: Built in 1950, the current 74-year-old home likely features outdated systems and finishes, necessitating extensive upgrades or a full demolition for new construction.

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