$7,945,000
- Beds
- 11
- sq ft
- 2,700
153 W Channel Rd, Santa Monica, CA 90402
153 W Channel Rd
Santa Monica, CA 90402
- 171 days on market
- Price drop $50,000↓
Rare development opportunity located in the Santa Monica Canyon located 1/5 Block from the Beach. Property is situated between W Channel Rd and backs onto Chautauqua Blvd.17,136 sq ft total lot size comprised of 4 separate parcels currently with 2x 4 unit buildings, Single Family house and vacant lot. All parcels are to be sold concurrently together. Santa Monica mailing address but LA City real for Building codes. Potential to build 30-59 Units .Current zoning C-2Q would allow 30 Units and R-4 density bonus could allow up to 59 units if parking limits are met. 153 W Channel Rd is a 4 unit Ocean View apartment building with 2 units delivered vacant at close with a current gross Income of $134,864 year with 2 units vacant at close of escrow.157 W Channel Rd is a 2 story 1928 4 unit Building with Canyon and Ocean Views with current gross income of $142,867 with 2 units being delivered vacant at close. (Market rent for vacant units being used for current Income) Total Income of $277,731 for the 8 Units. The 3 Bd 2 Ba Single Family w/ some Ocean View, home approx. 1500 sq ft (Owners Home) vacant at close of escrow with projected rent of $96,00 yearly with a total of $373,000 Gross income at a 3.1 cap with Additional vacant 4488 sq ft lot being used as a garden. Potential market rent at $444,000 at 4 cap. Preliminary Development feasibility for the property has been conducted and renderings provided by Ketter Construction and development firm at 30 Units with 1 Commercial space and a Gym which could later be converted to ADU.
Details
Property type
Lot size
0.3934 acres
Price per sq ft
$2,943
Year built
1960
HOA
No
Price History
06/18/2024
![CLAW](/_next/static/media/clawLogo.95a18e7e.png)
CLAW #24345583
Price change
$7,945,000
-0.63%
01/16/2024
![CLAW](/_next/static/media/clawLogo.95a18e7e.png)
CLAW #24345583
Listed
$7,995,000
Schools & Community
Neighborhood:
Pacific Palisades
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 07/05/2024 at 10:05 PM
Listing updated: 06/18/2024 at 9:33 AM
Listed by: James Allan, Compass Phone #: (310) 437-7500
MLS: CLAW #24345583
![CLAW logo](/_next/static/media/clawLogo.95a18e7e.png)
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