$7,495,000

153 W Channel Road, Santa Monica, CA 90402

  • 11 beds |
  • 10 baths |
  • 2,700 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1960
  • Property Lot Size Icon0.39acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $2,776/sqft
  • Property List Date Icon Listed 9 months ago

Property Description

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 two 4 unit buildings, 1 Single Family house and 1 vacant lot. All parcels are to be sold concurrently together. Santa Monica mailing address but LA City 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 a current gross Income of $139,016 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 $143,532 with 3 units being delivered vacant at close. (Market rent for vacant units being used for current Income) 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 $378,548 Gross income at a 3.46 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.

Listing Status:
Active
Date Added:
February 4, 2025 at 06:00AM
Listing Office:
Compass : 310-437-7500
Listing Agent:
James Allan : 310-704-0007
MLS ID:
25493967
  • Appliances: DishwasherMicrowave
  • Heating: Wall Furnace
  • Parking: AssignedDrivewayParking spaces: 0
  • General: 2
  • Originating MLS: CRMLS_CL
  • County: Los Angeles
  • Zoning: LAC24410012028
  • Source: CRMLS_CL

This listing courtesy of James Allan, Compass

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

C

Canyon Charter Elementary

421 Entrada Dr, Santa Monica, CA, 90402

Grades KG-5

0.41 miles away

P

Paul Revere Charter School

1450 Allenford Ave, Los Angeles, CA, 90049

Grades 6-8

2.30 miles away

P

Palisades Charter High School

, Pacific Palisades, CA, 90272

Grades 9-12

1.47 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.