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729 Cedar Street, Santa Monica, California 90405, Santa Monica, 90405 - bed, bath

729 Cedar Street, Santa Monica, California 90405 home-pic-0
ACTIVE$2,250,000
729 Cedar Street, Santa Monica, California 90405
0Bed
0Bath
2,880Sqft
5,995Lot
Year Built
1954
Close
-
List price
$2.25M
Original List price
$2.4M
Price/Sqft
$781
HOA
-
Days on market
-
Sold On
-
MLS number
SB25201120
Home ConditionFair
Features
Deck
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.25M(50th), sqft - 2880(50th), beds - undefined(50th), baths - undefined(50th).

Introducing a meticulously maintained investment opportunity in the heart of Santa Monica’s sought-after Ocean Park neighborhood. Walkable distance from the beach and two blocks from the peaceful greenery of Joslyn Park, this solid asset offers exceptional value with a current CAP rate of 2.85%. Current expenses include a property management fee, $6,000 per year, so if the Buyer elects to self-manage the property and thereby eliminates management expenses, the potential CAP rate could increase to 3.1%, with a potential market CAP rate of 4.5% with market rents. Residents enjoy quick access to many everyday conveniences along Lincoln Boulevard, including Gelson’s, Whole Foods Market, popular coffee shops, and a wide variety of restaurants, as well as the vibrant shops and dining of Abbot Kinney and Main Street. Santa Monica’s excellent Transit Score of 75 and Bike Score of 72 make every destination within easy reach.

Price History

Date
Event
Price
11/07/25
Price Change
$2,250,000-6.1%
09/11/25
Listing
$2,395,000
01/25/18
Sold
$2,000,000
07/07/15
Sold
$1,775,000
Condition Rating
Fair
The property, built in 1954, is 70 years old. While described as 'meticulously maintained' and appearing clean on the exterior, the age suggests that major systems and interior finishes (kitchens, bathrooms, appliances, fixtures) are likely outdated, even if functional. The lack of interior images prevents a full assessment of these critical areas, but the 'Property Age' being listed as a weakness, potentially necessitating 'future capital expenditures for updating systems or unit modernizations,' strongly indicates that the property, while cared for, has not undergone extensive modern renovations within the last 15 years. The exterior, with its 1950s architectural style and older windows, supports this assessment. Therefore, it likely requires minor updates or more significant modernizations to meet current standards, aligning with a 'Fair' condition.
Pros & Cons

Pros

Prime Coastal Location: Situated in Santa Monica's highly sought-after Ocean Park neighborhood, the property is within walking distance to the beach, Joslyn Park, and offers quick access to essential amenities, popular dining, and vibrant shopping districts like Abbot Kinney and Main Street.
Strong Investment Opportunity: As a meticulously maintained quadruplex, this residential income property presents a solid asset with significant potential to increase its CAP rate to 4.5% with market rents, making it attractive for investors seeking long-term growth.
Exceptional Accessibility: Boasting an excellent Transit Score of 75 and Bike Score of 72, the property offers superb accessibility to various destinations, appealing to tenants who prioritize convenient, car-free commuting options.
Well-Maintained Condition: The property is described as 'meticulously maintained,' suggesting a good state of repair and potentially lower immediate maintenance costs for a new owner.
Recent Price Reduction: A recent price adjustment from $2.395M to $2.25M indicates a more competitive offering, potentially providing better value and a more attractive entry point for buyers.

Cons

Low Current CAP Rate: The current CAP rate of 2.85% is relatively low, indicating that immediate returns are modest and require active management or rent adjustments to achieve more attractive investment yields.
Property Age: Built in 1954, the property is older, which may necessitate future capital expenditures for updating systems (e.g., plumbing, electrical, HVAC) or unit modernizations to maximize rental income and tenant appeal.
Reliance on Self-Management for Higher Returns: The potential for an increased CAP rate (3.1%) is contingent on the buyer electing to self-manage the property, which may not be desirable or feasible for all investors, and the 4.5% market CAP rate is a 'potential' based on achieving market rents, implying current rents are below market.

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