Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1602 Ocean Park Blvd Santa Monica, CA 90405
    Back to Search
    Property profile & analytics

    1602 Ocean Park Blvd, Santa Monica, CA 90405

    View on Map
    • Specialty properties
    • 5,498 SF
    • 0.36 lot acres
    Off-Market
    Property ID
    US09-6998246
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 1602 Ocean Park Blvd

    Year built
    1939
    Construction
    WOOD
    Lot size
    0.36 lot acres
    Zone code
    SMC2*
    Property type
    Specialty properties
    APN
    4285-005-008
    APU
    4285005008

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 10, 1971 $110,000 — — Grant Deed · related —
    — — Chung K Cho — Deed Of Trust · related $450k · Farmers & Merchants Bk Lng Bch
    — — Lodge 702 Loyal O Santa Monica — Deed Of Trust · related $140k · Private Lender
    — — Santa Monica Lodge — Deed Of Trust · related $130k · Encino State Bank
    — — Santa Monica Lodge 702 — Deed Of Trust · related $100k · Layman Financial Services INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.468
    Latitude
    34.0114
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,977
    $247,536
    $74,485
    $322,021
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.41 Acres

      Santa Monica, CA 90405

      PROFESSIONAL CLUBS/ASSOCIATIONS
      Santa Monica, CA 90405
      View Details
    • Value Estimation
      $535,000
      8,774 SF

      1040 Pico Blvd

      PROFESSIONAL CLUBS/ASSOCIATIONS
      1040 Pico Blvd, Santa Monica, CA 90405-1416
      View Details
    • Value Estimation by Request
      6,950 SF

      1720 Ocean Park Blvd

      PROFESSIONAL CLUBS/ASSOCIATIONS
      1720 Ocean Park Blvd, Santa Monica, CA 90405-4902
      View Details
    • Value Estimation by Request
      0.09 Acres

      739 Hl St

      VACANT COMMERCIAL LAND
      739 Hl St, Santa Monica, CA 90405-4492
      View Details
    • Value Estimation by Request
      0.05 Acres

      2720 Main St

      VACANT COMMERCIAL LAND
      2720 Main St, Santa Monica, CA 90405-4008
      View Details
    • Value Estimation
      $880,000
      6,469 SF

      2612 Euclid St

      APARTMENT HOUSE (5+ UNITS)
      2612 Euclid St, Santa Monica, CA 90405-4775
      View Details

    Similar Nearby for Sale

    • $1,995,000

      Santa Monica Commercial Property

      Commercial property with excellent visibility on Lincoln Boulevard.
      2011 Lincoln Blvd, Santa Monica, CA 90405
      View Details
    • $2,100,000

      Santa Monica Commercial Property

      Commercial property for sale in Santa Monica, California.
      2011 Lincoln Blvd, Santa Monica, CA 90405
      View Details
    • $1,999,000
      3,690 SF

      Santa Monica Retail Center

      Prime Pico Blvd location, 3,690 SF, high income potential.
      3307 Pico Blvd, Santa Monica, CA 90405
      View Details
    • Contact for pricing

      Santa Monica Office Property

      Office property near Santa Monica Airport and Business Park.
      Santa, Santa Monica, CA 90405
      View Details
    • $1,999,000
      2,369 SF

      Classic Duplex with Four Units

      Four-unit duplex in Ocean Park with detached garages, shared laundry, and multiple interior configurations.
      238 Bicknell Ave, Santa Monica, CA 90405
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,856 SF

      Santa Monica Office Space Available

      Well-maintained office building in Ocean Park business district.
      3205 Ocean Park Blvd, Santa Monica, CA 90405
      View Details
    • Contact for pricing

      Retail Property in Santa Monica

      Leased retail property in a prime Santa Monica location.
      2810-2818 Main St, Santa Monica, CA 90405
      View Details
    • Contact for pricing

      Santa Monica Office Building

      Fully leased office building in Santa Monica.
      2950 31St St, Santa Monica, CA 90405
      View Details
    • Contact for pricing
      680 SF

      Santa Monica Office Building

      Fully leased office building in Santa Monica.
      2656-2664 29Th St, Santa Monica, CA 90405
      View Details
    • Contact for pricing
      15,845 SF

      Office Space in Santa Monica

      Full first floor office space available for rent.
      3250 Ocean Park Blvd, Santa Monica, CA 90405
      View Details
    • $3 SF/Yr
      1,150 SF

      Ocean Park Boulevard Office Space

      Office space for lease on Ocean Park Boulevard.
      Santa, Santa Monica, CA 90405
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1602 Ocean Park Blvd
    Santa Monica, CA 90405
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1602 Ocean Park Blvd, Santa Monica, CA, 90405
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!