1121 Princeton Street 5, Santa Monica, California 90403, Santa Monica, 90403 - 2 bed, 3 bath

1121 Princeton Street 5, Santa Monica, California 90403 home-pic-0
ACTIVE$1,395,000
1121 Princeton Street 5, Santa Monica, California 90403
2Beds
3Baths
1,587Sqft
7,851Lot
Year Built
1989
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$879
HOA
$275
Days on market
-
Sold On
-
MLS number
25619629
Home ConditionFair
Features
Patio
ViewCourtyard

About this home

We found 3 Cons,5 Pros. Rank: price - $1.40M(55th), sqft - 1587(62th), beds - 2(50th), baths - 3(50th).

One or more photo(s) has been virtually staged. INVESTOR OR OWNER-USER OPPORTUNITY: Welcome to this 2-bedroom, 3-bathroom townhouse in a charming 5-unit Spanish-style building on a quiet, tree-lined street in the prestigious college streets of Santa Monica. Currently leased through November 2026 at $3,850/month, this property offers immediate rental income for investors or a future primary residence for buyers planning ahead. Ideally located blocks from top-rated schools and all the boutique shopping, cafes and restaurants that Montana Ave has to offer, not to mention, just a short drive to the beach! This end unit features a desirable layout with hardwood floors throughout. The kitchen opens to a combined dining and living area that flows to a private patio. As an end unit, the property backs directly onto a communal yard, perfect for pet owners seeking outdoor space. The main level includes a powder room and direct access to an enclosed two-car garage with ample storage and secure, gated entry exclusive to residents. Upstairs, the primary suite offers soaring ceilings and an en-suite bathroom with dual vanities, tile finishes, a spacious shower, and a soaking tub. The second bedroom includes its own en-suite bath. An upstairs laundry area adds convenience. Located North of Wilshire in the highly sought-after Franklin Elementary School boundary, just a stroll to Douglas Park, Montana Avenue, and the Brentwood Country Mart. This end-unit townhouse presents a rare opportunity in one of Santa Monica's most desirable neighborhoods whether as an income-producing investment or future dream home. Tenant-occupied with lease through November 2026. Showings available with 24-hour notice.

Price History

Date
Event
Price
11/17/25
Listing
$1,395,000
Condition Rating
Fair

The property was built in 1989, making it 35 years old. While the description mentions hardwood floors and en-suite bathrooms, the lack of direct images for the kitchen and bathrooms, combined with the visible wear and dated appearance of the carpet in the unstaged bedroom, suggests these areas are likely original or have not undergone recent major renovations. The 'virtually staged' note further implies that some elements may not be as updated as they appear in other photos. The property is functional and maintained but shows signs of being outdated, particularly in key areas like the kitchen and bathrooms, and requires minor updates to meet current aesthetic and quality standards.
Pros & Cons

Pros

Premier Santa Monica Location: Situated in the highly sought-after 'North of Wilshire' area, within the Franklin Elementary School boundary, and a short stroll to Montana Avenue, Douglas Park, Brentwood Country Mart, and a short drive to the beach.
Immediate Income & Investment Potential: Currently leased through November 2026 at $3,850/month, offering immediate rental income for investors or a planned future primary residence.
Luxurious & Functional Interior: Features hardwood floors, an open-concept living area, a primary suite with soaring ceilings, dual vanities, spacious shower, soaking tub, all bedrooms with en-suite baths, and an upstairs laundry area.
Private & Secure Parking: Includes direct access to an enclosed two-car garage with ample storage and secure, gated entry, a significant advantage in Santa Monica.
End Unit with Outdoor Access: As an end unit, it offers a private patio and direct access to a communal yard, providing desirable outdoor space, especially beneficial for pet owners.

Cons

Long-Term Tenant Occupancy: The property is tenant-occupied with a lease extending through November 2026, which significantly delays immediate owner-occupancy.
Monthly Association Fees: An ongoing monthly association fee of $275 adds to the total cost of ownership.
Limited Private Outdoor Space: While offering a private patio and communal yard access, the private outdoor space is typical for a townhouse and may be smaller than what some buyers desire in this market.

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