401 Ocean Avenue 2
Santa Monica, CA, 90402
$7,500,000
MLS: 26691709
Beds
4
Baths
6
Sq Ft
3,655
Lot
0.52 ac
Year Built
1930
MLS #
26691709
Days on Market
11
Listed
Apr 10, 2026
Description
With a truly irreplaceable ocean view, landmark designation, and an extraordinary Mills Act property tax reduction, 401 Ocean presents a rare opportunity to own a piece of Santa Monica's coastal legacy. Rich in local history, this Craftsman-style residence was originally built in 1930 by renowned architect Robert Farquhar and thoughtfully restored and modernized in 2021. As a designated historic landmark, the home benefits from an active and transferable Mills Act contract, offering a significant property tax reduction of up to approximately 80% -- an exceptional advantage in today's market. One of only two townhouse-style residences, the home lives with the privacy and presence of a single-family retreat, complete with a private entrance, side yard, multiple terraces, a two-car garage, and integrated home automation with surround sound throughout. Set just beyond the bluff, unobstructed views of the Pacific Ocean and Santa Monica Mountains unfold across the main and upper levels, all just moments from the beach, promenade, and pier. Inside, radiant natural light pours through expansive windows, illuminating exquisite millwork, wide-plank white oak floors, and refined modern finishes that elevate the home's timeless coastal character. The open-concept main level flows effortlessly from a sophisticated living room to an airy dining space and out to a private, hedge-lined terrace, the ideal setting for relaxed mornings or evenings dining al fresco. At the heart of the home, the gourmet kitchen is as beautiful as it is functional, featuring custom Axis cabinetry, a substantial seated island, premium built-in appliances including temperature-controlled wine storage, and a generous butler's pantry with wet bar. A charming powder room, laundry room, and bedroom suite complete the main floor. Upstairs, three additional bedroom suites await, including one with access to the upper terrace and the impressive primary suite. Positioned at the front of the home beneath soaring vaulted ceilings, the primary offers an awe-inspiring ocean-front vantage, a private balcony, expansive walk-in closet, and a spa-like en-suite bath with gas fireplace, dual vanity, soaking tub, and glass-enclosed shower. The lower level reveals an expansive brick-lined family room and full bathroom, ideal for a media lounge, gym, playroom, or private studio. Supremely located in the heart of Santa Monica with effortless access to world-class dining, boutiques, and Westside amenities, 401 Ocean is a one-of-a-kind heritage residence that honors California's past while defining the future of luxury coastal living.
Location
Santa Monica, Los Angeles County, CA 90402
Open on Google Maps ↗Listed by: F. Ron Smith · Compass
Payment estimate
$52,398
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $750,000 · Loan: $6,750,000
- Principal & Interest
- $41,473
- Property tax (1.25%)
- $7,813
- Homeowners insurance
- $300
- Mortgage insurance
- $2,813
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 $262,500 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.
★#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.