153 W Channel Road, Santa Monica, CA 90402
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Listed Price :
$7,495,000
-
Beds :
11
-
Baths :
10
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Property Size :
2,700 sqft
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Year Built :
1960
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.
Interior Features
| Bedroom Information |
| Bedrooms |
11 |
| Bathroom Information |
| Bathrooms |
10 |
Listing Information
| Address |
153 W Channel Road |
| City |
Santa Monica |
| State |
CA |
| Zip |
90402 |
| County |
Los Angeles |
| Listing Agent |
James Allan DRE #01180635 |
| Courtesy Of |
Compass |
| List Price |
$7,495,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
2,700 |
| Lot Size |
17,136 |
| Year Built |
1960 |
Listing information courtesy of: James Allan, Compass. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 12th, 2025 at 1:15 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
