$ 7,495,000
-
$7,495,000
Price -
8
Bed -
7
Bath -
2,700
SqFt
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About the Listing CLW-X8146110 - CLW-X77874
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 Highlights for 153 W Channel Rd
Status
Active
Days on Site
213
Property Type
Multi-Family
MLS ®
25493967
Year Built
1960
Total Square Footage
2,700
Lot/Acreage
0.39
County
Los Angeles
Interior Details
- Bedrooms: 8
- Bathrooms: 7 Full
- Appliances: Dishwasher, Microwave
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LAC2
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Driveway,Assigned
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4410012028
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
153 W Channel Rd Santa Monica, CA 90402
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