201 Ocean Ave Unit 1505B · Santa Monica, CA 90402

$785,000

1 bd · 1.0 ba · 868 sqft · Condo public records · 15 Days on market

Built 1971 $904/sqft · 20% below area Est $980k · 20% under $2238/mo HOA · 52% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.2/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks MLS

Exquisitely reimagined, this 1-bedroom, 1-bathroom sanctuary offers serene, sweeping views of both the mountains and the city. Bathed in natural light, the residence showcases stunning hardwood floors, custom cabinetry, recessed lighting, and luxurious high-end finishes throughout. With its spacious layoutthis home provides flexible options, including space for a potential work area. Plus, the private balcony invites you to savor al fresco dining while soaking in the vistas. Storage is thoughtfully integrated into every corner, ensuring both beauty and practicality. Located within Ocean Towers, Santa Monica's premier full-service, amenity-rich building, you'll experience the pinnacle of coastal luxury living. Perched above the iconic 26-acre Palisades Park and overlooking the breathtaking Santa Monica Bay, Ocean Towers delivers unparalleled services, including 24-hour doormen and valet, a sophisticated lobby, a state-of-the-art fitness center, and a stunning ocean-view deck complete with a swimmer's pool, spa, and banquet room. All this, just moments from Santa Monica's vibrant boutiques, world-class dining, charming cafes, pristine beaches, and the scenic bike path. Move right in and begin living your dream coastal lifestyle!

Key facts

• Fitness center
• Private balcony
• Stunning pool

Tags

• PRIVATE BALCONY
• OCEAN-VIEW DECK
• FITNESS CENTER
• 24 HOUR DOORMAN
• VALET
• STUNNING POOL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $785k.

Deal economics

• At list price, monthly cash flow is $-4k ($-49k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (78.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $429k (45.4% below list).
• Recommended offer: $166k (78.8% below list) — sets the bar for cash-flow.
• Cap rate 0.1% vs local median 1.2% in Santa Monica — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 72/100 on livability (#178 in CA) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: health & safety C-, crime F, cost of living F.
• Santa Monica-Malibu Unified (urban): math 61% / reading 74% proficiency, ranked #123 of 1,400 in CA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.0%/yr); 86 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• This rent runs 32% of the median local income ($159k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $84k of equity ($5k loan paydown + $78k appreciation (10.0% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$135k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($773k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 15y ago; this cycle's ask has dropped $60k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $277k; list at $785k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 52% of rent.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,045 (78.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.55% ✗
• Cap rate: 0.06%
• Cash-on-cash: -22.27%
• DSCR: 0.01
• GRM: 15.3

CMA / ARV

• ARV (median comp): $980,348
• List price: $785,000
• Delta: -13.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 2.03% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.75×
• Total profit: $164,955
• Equity at exit: $707,190

10-year hold

• IRR: 10.4%
• Equity multiple: 4.11×
• Total profit: $684,575
• Equity at exit: $1,525,082

Cash invested: $219,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90402

• Home prices YoY: 3.0%
• Rents YoY: 2.0%
• Active inventory: 86
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $4,285 high
• Mortgage (P&I): −$4,117
• Tax from tax record: −$782 /mo · $9,386/yr
• Insurance: −$327
• HOA: −$2,238
• Vacancy / Maint / Mgmt: −$900
• Net cashflow: $-4,078

Break-even live

Break-even rent $9,448

Max offer price $166,045

Occupancy floor —

Sensitivity live

Price	-10% $-3,634	-5% $-3,856	+0% $-4,078	+5% $-4,301	+10% $-4,523
Rent	-10% $-4,417	-5% $-4,248	+0% $-4,078	+5% $-3,909	+10% $-3,740
Rate	-1.0pp $-3,683	-0.5pp $-3,879	base $-4,078	+0.5pp $-4,282	+1.0pp $-4,489

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $196,250
• Closing costs: $23,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
134 San Vicente Blvd Unit C Santa Monica, CA	1.0	1.0	631	$3,650	$5.78	6d	1	0.06mi
142 San Vicente Blvd Apt B Santa Monica, CA	1.0	1.0	675	$3,400	$5.04	6d	1	0.06mi
130 San Vicente Blvd Santa Monica, CA	1.0	1.0	635	$3,900	$6.14	25d	1	0.07mi
316 San Vicente Blvd Santa Monica, CA	2.0	2.0	1100	$4,795	$4.36	25d	1	0.12mi
386 Entrada Dr Santa Monica, CA	2.0	2.0	1008	$7,000	$6.94	44d	1	0.19mi
427 San Vicente Blvd Santa Monica, CA	1.0	1.0	720	$2,795	$3.88	44d	1	0.21mi
217 Amalfi Dr Santa Monica, CA	1.0	1.0	809	$7,500	$9.27	44d	1	0.29mi
540 San Vicente Blvd Unit 22 Santa Monica, CA	1.0	1.0	650	$2,950	$4.54	44d	1	0.33mi
608 San Vicente Blvd Santa Monica, CA	1.0	1.0	625	$2,900	$4.64	0d	1	0.35mi
630 San Vicente Blvd Unit B Santa Monica, CA	1.0	1.0	775	$2,495	$3.22	18d	1	0.39mi
630 San Vicente Blvd Unit A Santa Monica, CA	2.0	2.0	975	$3,495	$3.58	4d	1	0.39mi
630 San Vicente Blvd Unit E Santa Monica, CA	1.0	1.0	775	$2,495	$3.22	21d	1	0.39mi
125 Montana Ave #304 Santa Monica, CA	1.0	1.0	972	$4,500	$4.63	11d	1	0.48mi
757 Ocean Ave Santa Monica, CA	1.0	1.0	639	$4,200	$6.57	44d	2	0.50mi
801 2nd St Santa Monica, CA	1.0–2.0	1.0–2.0	1037	$3,645	$3.51	0d	2	0.53mi
402 Montana Ave Apt 12 Santa Monica, CA	2.0	1.0	1000	$3,595	$3.60	25d	1	0.55mi
402 Montana Ave Unit 4 Santa Monica, CA	1.0	1.0	600	$2,595	$4.33	17d	1	0.55mi
818 5th St Santa Monica, CA	2.0	2.0	1000	$3,995	$4.00	44d	1	0.60mi
858860 3rd St Santa Monica, CA	1.0	1.0	550	$3,595	$6.54	4d	1	0.61mi
828 5th St #10 Santa Monica, CA	1.0	1.0	619	$3,200	$5.17	44d	1	0.61mi
808 6th St Santa Monica, CA	1.0	1.0	581	$2,195	$3.78	25d	1	0.62mi
608 Montana Ave Unit 4 Santa Monica, CA	—	1.0	575	$1,550	$2.70	44d	1	0.63mi
833 5th St Unit 203 Santa Monica, CA	2.0	2.0	1100	$4,795	$4.36	21d	1	0.63mi
833 5th St Unit 105 Santa Monica, CA	1.0	1.0	1100	$3,450	$3.14	16d	1	0.63mi
811 6th St Santa Monica, CA	1.0	1.0	950	$4,295	$4.52	44d	1	0.64mi
901 3rd St Santa Monica, CA	2.0	2.0	1100	$5,295	$4.81	11d	1	0.66mi
627 9th St Unit D Santa Monica, CA	1.0	1.0	600	$2,800	$4.67	6d	1	0.70mi
827 7th St Unit L Santa Monica, CA	1.0	1.0	750	$3,250	$4.33	25d	1	0.71mi
928 4th St Unit 12 Santa Monica, CA	2.0	2.0	825	$3,095	$3.75	14d	1	0.71mi
928 4th St Apt 3 Santa Monica, CA	1.0	1.0	600	$2,395	$3.99	44d	1	0.71mi
928 4th St Apt 5 Santa Monica, CA	2.0	2.0	750	$3,095	$4.13	44d	1	0.71mi
848 7th St Unit 4 Santa Monica, CA	2.0	1.5	1000	$2,995	$3.00	14d	1	0.71mi
938 3rd St Santa Monica, CA	1.0–2.0	1.0–2.0	900	$2,675	$2.97	12d	3	0.72mi
937 3rd St Santa Monica, CA	1.0	1.0	622	$2,985	$4.80	0d	1	0.73mi
950 4th St Santa Monica, CA	1.0–2.0	1.0–2.0	933	$3,595	$3.85	3d	2	0.76mi
927 6th St Unit 3 Santa Monica, CA	1.0	1.0	745	$2,650	$3.56	21d	1	0.78mi
204 Washington Ave Santa Monica, CA	2.0	2.0	1000	$3,448	$3.45	25d	1	0.78mi
204 Washington Ave #114 Santa Monica, CA	1.0	1.0	725	$3,590	$4.95	21d	1	0.78mi
1015 2nd St Santa Monica, CA	1.0	1.0	456	$3,298	$7.22	0d	5	0.79mi
827 9th St Unit 7 Santa Monica, CA	2.0	1.5	950	$3,400	$3.58	25d	1	0.81mi

HOA detail condo

• Monthly dues: $2,238 · $26,856/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $785,000 Active 15 DOM
2. 2026-06-17
   days on market $785,000 Active 14 DOM
3. 2026-06-16
   days on market $785,000 Active 13 DOM
4. 2026-06-15
   days on market $785,000 Active 12 DOM
5. 2026-06-13
   days on market $785,000 Active 10 DOM
6. 2026-06-13
   days on market $785,000 Active 9 DOM
7. 2026-06-09
   days on market $785,000 Active 6 DOM
8. 2026-06-08
   days on market $785,000 Active 5 DOM
9. 2026-06-07
   days on market $785,000 Active 4 DOM
10. 2026-06-04
    pricedays on marketlisting id $785,000 Active 1 DOM
11. 2026-05-31
    days on market $845,000 Active 135 DOM
12. 2026-01-16
    listed $845,000 Active 1246-char remark

    Show marketing remark (1246 chars)

    Exquisitely reimagined, this 1-bedroom, 1-bathroom sanctuary offers serene, sweeping views of both the mountains and the city. Bathed in natural light, the residence showcases stunning hardwood floors, custom cabinetry, recessed lighting, and luxurious high-end finishes throughout. With its spacious layoutthis home provides flexible options, including space for a potential work area. Plus, the private balcony invites you to savor al fresco dining while soaking in the vistas. Storage is thoughtfully integrated into every corner, ensuring both beauty and practicality. Located within Ocean Towers, Santa Monica's premier full-service, amenity-rich building, you'll experience the pinnacle of coastal luxury living. Perched above the iconic 26-acre Palisades Park and overlooking the breathtaking Santa Monica Bay, Ocean Towers delivers unparalleled services, including 24-hour doormen and valet, a sophisticated lobby, a state-of-the-art fitness center, and a stunning ocean-view deck complete with a swimmer's pool, spa, and banquet room. All this, just moments from Santa Monica's vibrant boutiques, world-class dining, charming cafes, pristine beaches, and the scenic bike path. Move right in and begin living your dream coastal lifestyle!

13. 2025-10-26
    listed Active
14. 2025-07-30
    listed Active
15. 2025-02-04
    listed Active
16. 2024-10-10
    price
17. 2024-08-30
    price
18. 2024-07-29
    price
19. 2024-06-29
    price
20. 2024-05-29
    price
21. 2024-04-29
    listed Active
22. 2022-09-29
    listed Active
23. 2016-06-17
    historical Expired
24. 2016-05-31
    status Active
25. 2016-05-30
    historical Expired
26. 2016-02-16
    price
27. 2015-11-23
    listed Active
28. 2012-03-13
    soldstatus $277,000 Closed
29. 2012-02-06
    status Pending
30. 2012-01-20
    price $319,900
31. 2012-01-05
    price $349,900
32. 2011-12-09
    price $379,900
33. 2011-11-17
    price $399,900
34. 2011-10-22
    listed $429,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $9,386 · $782/mo
• Projected year-2 tax: $9,386 · $782/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥83°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,425
• − Mortgage interest: −$43,972
• − Property taxes: −$9,386
• − Insurance: −$3,925
• − Repairs & maintenance: −$4,114
• − Management: −$4,114
• − HOA: −$26,856
• − Depreciation: −$22,836
• Taxable loss: −$63,778
• Est. tax savings @ 24.0%: +$15,307
• After-tax cash flow: $-33,633/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Santa Monica-Malibu Unified
• NCES district ID: 0635700
• Math proficiency: 61% ▬ 0.00%
• Reading proficiency: 74% ▬ 0.00%
• Median HH income: $81,489
• Composite: 61.58/100
• National rank: #1535
• State rank: #123 of 1400 in CA

Livability — Santa Monica

• Score: 72/100
• State rank: #178
• US rank: #5878

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing B- Health & safety C- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Monica, CA
• County: Los Angeles County · 9,444,647 people
• City population: 93,581
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 11,337
• Household income: $159,100
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 265.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 10% Hispanic / Latino 10% Asian 9%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 6% Scotch-Irish 6% Slovak 3%
• Foreign-born: 15% · China, Canada, South Korea
• Languages at home: 82% English-only · Other Indo-European 4% Spanish 4% Chinese 4%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.74%
• Current HPI: 540.458
• Rent YoY: ▲ 2.03%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+96.6% since first listed

23 events — show timeline

• 2026-01-16 Listed $845,000 TheMLS
• 2025-10-26 Listed — TheMLS
• 2025-07-30 Listed — TheMLS
• 2025-02-04 Listed — TheMLS
• 2024-10-10 Price Changed — TheMLS
• 2024-08-30 Price Changed — TheMLS
• 2024-07-29 Price Changed — TheMLS
• 2024-06-29 Price Changed — TheMLS
• 2024-05-29 Price Changed — TheMLS
• 2024-04-29 Listed — TheMLS
• 2022-09-29 Listed — TheMLS
• 2016-06-17 Delisted — TheMLS
• 2016-05-31 Relisted — TheMLS
• 2016-05-30 Delisted — TheMLS
• 2016-02-16 Price Changed — TheMLS
• 2015-11-23 Listed — TheMLS
• 2012-03-13 Sold (MLS) $277,000 TheMLS
• 2012-02-06 Pending — TheMLS
• 2012-01-20 Price Changed $319,900 TheMLS
• 2012-01-05 Price Changed $349,900 TheMLS
• 2011-12-09 Price Changed $379,900 TheMLS
• 2011-11-17 Price Changed $399,900 TheMLS
• 2011-10-22 Listed $429,900 TheMLS

Property tax history

+3.6%/yr

Latest (2025): $9,386 · +6.5% YoY. Source: county tax records.