1101 Lincoln Boulevard 5
Santa Monica, CA, 90403
$749,000
MLS: 26638989
Beds
2
Baths
2
Sq Ft
992
Lot
0.17 ac
Year Built
1964
MLS #
26638989
Days on Market
12
Listed
Oct 8, 2026
Description
RARE SANTA MONICA OPPORTUNITY -- BUY BEFORE THIS BUILDING POTENTIALLY UNLOCKS ITS FULL VALUE! Offered at $749,000, this beautiful 2-bedroom, 2-bath corner condo in coveted Wilshire/Montana combines an exceptional coastal lifestyle, a well-funded HOA and unusual potential for appreciation. The seller owns five of this 11-unit building's residences and is offering all five individually to separate buyers. As ownership concentration decreases, a major obstacle to conventional financing may be resolved, potentially opening the building to a much larger buyer pool. The listing broker estimates that restored financing eligibility could support a 15-30% increase in market value. PRIME NORTH-OF-WILSHIRE LOCATION! Enjoy the best of Santa Monica just moments from Montana Avenue's chic boutiques, coffee shops, acclaimed restaurants and neighborhood markets. Blocks to iconic Palisades Park for Pacific Ocean sunsets, spend afternoons at the beach, or explore nearby parks and Third Street Promenade. Highly regarded local schools add to the appeal. This is the quintessential Santa Monica lifestyle, with dining, shopping and coastal recreation close to home. PRIVATE CORNER RESIDENCE! Approximately 1,000 square feet, Unit 5 (also known as 2B) is a north-facing corner home on the quieter side of the complex, with limited shared walls for added privacy. The spacious living room opens through oversized sliding glass doors to a wide, covered private balcony overlooking leafy neighborhood surroundings. Light wood-look flooring and crisp white walls create a bright, inviting feel. A separate dining area provides room to entertain. The kitchen features white cabinetry, light countertops, stainless steel refrigerator, gas range and a window above the sink. Both bedrooms have generous closets; bathrooms feature white vanities and glass-enclosed bathing areas with subway tile. 2 car gated and secured parking spots. A WELL-RUN, WELL-FUNDED HOA! This intimate 11-residence building has been recently repainted and nicely updated, with consistent maintenance and attractive common areas inlcuded major deferred maintanance projects completed. Reported reserves are over 58% funded, with annual reserve contributions exceeding 15% of budgeted assessments. Buyers can appreciate the building's excellent reported financial position and proactive upkeep. Amenities include elevator access, underground parking, shared laundry and bicycle storage.LIVE HERE OR INVEST! The desirable two-bedroom layout, prime Montana Avenue location and proximity to the beach make this a compelling home or long-term rental prospect, subject to HOA rental rules. *****THE OPPORTUNITY IS IN THE TIMING!***** This building is currently non-warrantable, limiting conventional financing options and the potential buyer pool due to this owner owning more than 5 units. Selling the five seller-owned residences to separate buyers is an active plan to reduce concentrated ownership, a key financing issue. If the building becomes eligible for conventional loans, broader financing access could support stronger demand and higher values. Unlike many non-warrantable properties, this one has an identifiable obstacle and a plan to address it. FIVE RESIDENCES, ONE UNIQUE OPPORTUNITY! This is the first being offered. Ask about the remaining units when scheduling your tour. Cash or eligible non-warrantable financing only at present. Building is not currently Fannie Mae/Freddie Mac warrantable. Broker's 15-30% appreciation estimate is an opinion, not an appraisal or guarantee. Eligibility, timing and future values are uncertain; additional project requirements may apply. Buyer and lender to independently verify HOA financials, rental rules and financing eligibility. See private remarks for showings.
Location
Santa Monica, Los Angeles County, CA 90403
Open on Google Maps ↗Listed by: Brian Maser · The Condo Experts
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$6,748
/ month (est.)
Principal, interest, taxes, and insurance + PMI + HOA. Down payment: $74,900 · Loan: $674,100
Average 30-yr fixed rate 7.40% as of Oct 15, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $4,667
- Property tax (1.25%)
- $780
- Homeowners insurance
- $300
- Mortgage insurance
- $281
- HOA dues
- $720
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Oct 15, 2026
- 30-year fixed
- 7.40%
- 15-year fixed
- 6.71%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Santa Monica home with as little as 3.5% down using an FHA loan — roughly $26,215 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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Local Market Stats
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