246 16th Street
Santa Monica, CA, 90402
$3,850,000
MLS: 26672949
Beds
4
Baths
3
Sq Ft
2,388
Lot
0.17 ac
Year Built
1925
MLS #
26672949
Days on Market
8
Listed
Apr 10, 2026
Description
1925 Colonial Revival residence offering an opportunity to restore and reimagine a classic Santa Monica home. With over a century of history, this two-story red brick home is ready for its next chapter in life - translation: plan on replacing most of the major and minor components of the property; Doors, windows, plumbing, fireplace, electrical, HVAC, roof, etc. Being sold for land value only, the existing home spans approximately 2,388 square feet and includes 4 bedrooms and 2.5 bathrooms. The property features attractive front and rear yards with mature landscaping, grassy lawns, rose gardens, and mature privacy hedging. A detached two-car garage is accessed via the alley and includes a bonus space with loft and bathroom, presenting additional flexibility for creative use. Located within the highly regarded Franklin School District, this compelling value-add opportunity is perfect for those looking to renovate, expand, or customize a character home in a prime north of Montana Ave location. No purchase offers will be considered prior to offer deadline of 4/20/26. Offer guidelines available in listing documents.
Location
Santa Monica, Los Angeles County, CA 90402
Open on Google Maps ↗Listed by: John Hathorn · Compass
Payment estimate
$27,044
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $385,000 · Loan: $3,465,000
- Principal & Interest
- $21,290
- Property tax (1.25%)
- $4,010
- Homeowners insurance
- $300
- Mortgage insurance
- $1,444
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 Apr 23, 2026
- 30-year fixed
- 6.23%
- 15-year fixed
- 5.58%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
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 $134,750 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.
Similar Homes Nearby
Active and pending listings in ZIP 90402 (Santa Monica) within ±10% of this home's price and size.
Local Market Stats
See Santa Monica, CA 90402 market trends →
Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
★#1 Producing Individual Realtor — Antelope Valley
Only large teams outsell Mike Watson · Keller Williams Realty
Free Buyer & Seller Tools
Net Sheet Calculator
Estimate how much you'll walk away with after selling. Covers commissions, closing costs, and loan payoff.
Property Comparison
Compare 2–3 properties side-by-side — equity, monthly payment, cash to close, and DTI — all in one infographic.
Drive Time Calculator
Check commute times from this address to work, school, or anywhere else before you commit.
Buyer Cost Sheet
Estimate your total closing costs as a buyer — lender fees, title, escrow, and prepaids — before you write an offer.