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1015 Franklin Street, Santa Monica, CA 90403

$9.45M7bd · 9ba · 10,689 sqft
Lot 11,808 sqft•Single Family Residence•
Active
•46d on market•MLS# 00-26969825

Property Description

Rare ground-up opportunity on an oversized 11,700 SF lot in Santa Monica's coveted Wilshire-Montana neighborhood, just minutes from the beach, Montana Avenue, and highly regarded Santa Monica-Malibu schools. Fully engineered, City-approved plans are in hand for a striking modern three-story residence, approximately 10,700 SF of interior living space, a 760 SF four-car garage, and nearly 2,700 SF of rooftop entertaining space, creating a total structure approaching 15,000 SF. Designed for sophisticated living and large-scale entertaining, the residence features seven bedrooms and nine bathrooms, including two oversized primary suites with private balconies, floor-to-ceiling glass, an elevator, and solar-ready, fire-sprinklered construction. The lower level is envisioned with a private movie theater, wet bar, wine cellar, two bedrooms, and a four-car garage, with one bedroom offering flexibility as a gym or fitness room. The expansive rooftop entertaining area is designed with outdoor seating and lounge spaces, a fire pit, and potential for a BBQ area, offering exceptional indoor-outdoor living and entertaining potential. The main level includes an additional bedroom that could also function as a private home office, along with separate living and family rooms. Opportunities to create a fully customized, architecturally distinctive residence of this scale on an oversized lot in Wilshire-Montana are exceptionally rare. This offering provides the opportunity to bring your own builder, materials, finishes, and vision to a truly one-of-a-kind residence in one of Santa Monica's most sought-after neighborhoods. Buyer to independently verify all square footage, dimensions, permit status, approvals, plans, development potential, and other property and project information with the City of Santa Monica Building and Safety Division and appropriate professionals prior to close of escrow.

Features & Amenities

Fee

Property Details

Land Type
Fee
Property Type
Residential
Property Subtype
Single Family Residence
Heating
Central
Cooling
Central Air
View
City Lights
Flooring
Wood
City
Santa Monica
Zip Code
90403
County
Los Angeles
Listed byChristie's International Real Estate SoCal, Aaron Kirman

Mortgage Calculator

Current Rates

$
$
%
Monthly Payment
$47,784.34
Principal & Interest
Loan Amount
$7,560,000
Total Interest
$9,642,363
Total Payment Over 30 Years
$17,202,363
This calculator provides estimates only. Actual mortgage payments may include taxes, insurance, HOA fees, and PMI. Contact a lender for accurate quotes.

Comparative Market Analysis

Luxury Tier · 5 active · 5 closed

1015 Franklin Street, Santa Monica, CA 90403

Santa Monica · Single Family Residence

$9.45M
Luxury Tier
Beds
7
Baths
9
Sqft
10,689
Lot
11,808 sqft
Year
0
$/Sqft
$884
Pool: No✓
Spa: No✓
View: city✓

Listed 7.1% above the median closed sale of $8,822,500. Price per sqft ($884) is a 41% discount to closed comps ($1,498). Luxury tier — fewer comparable sales widen the confidence range.

Price Position

Positioned above the market — commands a premium.

Premium
Subject listed at $9.45M· $884/sqft
Total list price
Closed comps
vs closed median $8.82M
+$628K (+7.1%)
Active comps
vs active median $9.95M
−$500K (−5.0%)
Price per sqft
Closed compsinsufficient comp data
Active comps
vs active avg $/sqft $1,469
−$585 (−39.8%)

Active Properties (5)

Active Comparables

AddressCityYearBDBTHSqFtLotSzLP/SqFtLPDIMScore
12443 Sunset BoulevardLos Angeles2017777,8708,996$1,137$8.95M12470
311 Bowling Green WayLos Angeles2026686,5217,002$1,457$9.50M11457
618 15th StreetSanta Monica2016697,0277,498$1,423$10.00M3455
310 22nd StreetSanta Monica1989687,0547,574$1,411$9.95M4554
324 Medio DriveLos Angeles2021565,2109,969$1,915$9.97M30153
Total: 5 · Average6.07.66,736.48,207.8$1,468.6$9.67M123.6
Median7,027$9.95M

Closed Properties (5)

Closed Comparables

AddressCityYearDateBDBTHSqFtLotSzLPSPSP/SqFtSP/LPDIMScore
615 23rd StreetSanta Monica202506/30/2026797,4528,700$10.99M$10.00M$1,3420.9111774
116 Carmelina AvenueLos Angeles201711/17/2025687,4749,007$9.25M$8.73M$1,1680.947663
703 25th StreetSanta Monica193606/05/2026565,2268,672$8.70M$8.97M$1,7171.032960
728 25th StreetSanta Monica—10/20/2026575,6128,696$8.75M$8.53M$1,5190.973256
401 26th StreetSanta Monica192805/21/2026575,05316,055$8.99M$8.82M$1,7460.983851
Total: 5 · Average5.67.46,163.410,226$9.01M$9.01M$1,498.4—58.4
Median5,612$8.82M$8.82M

Market Analysis

List vs Sale $/SqFt

Sale Price Trend

Days on Market

Sale vs List Price

AI-generated CMA

This analysis was generated automatically from MLS data. For an in-depth, human-reviewed valuation, contact Joseph Sardella at josephsardella@gmail.com.