About the Building
The Waverly, at 1705 Ocean Avenue, was completed in 2014 as the condominium component of Ocean Avenue South, the mixed-use project Related California built on land the RAND Corporation once occupied south of the Santa Monica Civic Center. Moore Ruble Yudell served as master planner and design architect with KTGY as executive architect, and Marmol Radziner designed the interiors. It was widely described at completion as the first major residential development on Ocean Avenue in more than two decades, and the building holds LEED Silver certification, with the project taking a USGBC-LA Sustainable Innovation Award among other honours.
The building rises six storeys over subterranean parking, with 65 residences above roughly 8,500 square feet of ground-floor retail. One question a buyer here must resolve early is land tenure. The Urban Land Institute's case study records that Santa Monica retained ownership of the Ocean Avenue South land and entered three separate 99-year ground leases with Related California, structured to allow separate financing and ownership entities. The neighbouring Seychelle is commonly marketed as a leasehold building; Waverly marketing materials are silent on the point, so title should be verified from the preliminary title report rather than assumed.
Residences run from one to three bedrooms. Aggregator records put living areas from roughly 869 to 3,340 square feet, with most homes in the 1,000 to 2,300 square foot band and four penthouses on the top floor, each with a large private terrace. Units are oriented north across Tongva Park, the six-acre James Corner Field Operations park the development faces, which gives many homes layered views of park canopy, the pier, the ocean and the Santa Monica Mountains without direct western sun exposure.
Service is a defining feature at this scale: an attended lobby with 24-hour concierge, a fifth-floor skybridge lounge with kitchen, fireplace and ocean-view deck, a fitness centre, a pet spa, bicycle storage and private storage lockers. The architect's project page states that each residence comes with two parking spaces and storage in the gated garage. Homeowner dues and their exact inclusions are not published; with round-the-clock lobby staffing and substantial common facilities, buyers should review the HOA budget, and any ground-rent obligation, line by line in escrow.
Value here rests on scarcity and position. Sixty-five homes in a 2014 building beside Tongva Park, a block from the pier and the beach, in a downtown coastal zone where entitlement of new condominiums is slow and rare, means turnover is thin and comparable new stock essentially does not exist. The offsetting diligence items are equally clear: confirm the leasehold-versus-fee question, understand how the ground lease, if applicable to this parcel, is treated by lenders, and price the service-heavy operating budget into long-term ownership costs.
Amenities & Services
The Residences
The sixth floor holds four penthouses, each with a large private outdoor terrace and the building's broadest ocean, pier and mountain outlooks. These are the rarest and most closely held homes at the address.
Entry homes are one-bedroom plans, recorded by aggregators from roughly 869 to about 1,160 square feet, with open kitchens and balconies on most stacks facing Tongva Park or the walk street.
The core of the building is two- and three-bedroom residences, generally between about 1,300 and 2,300 square feet, many with corner glazing that pairs park frontage with ocean views toward the pier.
Interiors were designed by Marmol Radziner, with wide-plank floors, stone counters and integrated appliances in the original specification. Some homes remain close to the 2014 finish; others have been customised since.
Residences face north over Tongva Park, so principal rooms get even light and protected sightlines across six acres of parkland rather than direct western glare, an unusual orientation among Ocean Avenue buildings.
Most plans carry balconies or terraces, and the shared fifth-floor skybridge lounge adds an outdoor deck with fireplace and kitchen that functions as an extension of individual residences for entertaining.
Due Diligence
The architect's project page states each residence includes two parking spaces plus storage in the controlled-access subterranean garage, with guest stalls. Confirm the exact spaces deeded or assigned to a specific unit in escrow.
ULI documents that the city retained the Ocean Avenue South land under three 99-year ground leases. Whether Waverly units are leasehold, as the Seychelle is marketed, must be confirmed from title before writing an offer.
Pets are permitted subject to HOA rules, and the building includes a dedicated pet spa. Breed, weight and count limits are not published; request the current rules and any registration requirements from management.
Units at the Waverly do appear on the rental market, so leasing is evidently permitted. Minimum lease terms, caps and approval procedures are not published; verify them in the CC&Rs before buying as an investor.
Dues amounts and inclusions are not published. Expect a staffing-heavy budget covering the 24-hour concierge, amenity floors and insurance, and ask specifically whether any ground-rent obligation flows through the association.
The building is 2014 construction engineered to modern California code, so it sits outside Santa Monica's retrofit ordinance lists. Review HOA reserve studies for the usual envelope, garage and mechanical cycles rather than structural retrofits.
Interior alterations need HOA architectural approval; anything touching the exterior of a LEED-certified building in the coastal zone can require city and coastal-permit review. Budget longer approval timelines than a standard condominium.
As post-1979 construction, the building falls outside Santa Monica's rent control ceiling, and condominiums are generally exempt under Costa-Hawkins, but owners intending to lease should confirm current registration and just-cause rules with the Rent Control Board.
Everything above is drawn from public records, city permit data and published sources. The association’s statutory disclosure package is the only authoritative answer on dues, rules, reserves, insurance and litigation — Ben will request it and read it with you before you remove contingencies.
Common Questions
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Start the ConversationOff Market & Coming Soon
Residences here reach the open market rarely, and some never do. Ask Ben to tell you when one is coming, including quietly.
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