Active

153 W Channel Rd

Santa Monica CA, 90402

$7,995,000


$2,961.11 per sqft

Active

11 Beds

2,700 sqft

Residential

Built in 1960

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.

24-345583

MLS ID

January 16, 2024

Listed

March 18, 2024

Updated

Map

153 W Channel Rd
Santa Monica CA, 90402

Interior Features

Total Stories

2


Bedrooms

11 Beds


Appliances

Dishwasher, Microwave


Fireplace

No


Cooling

Yes


Cooling Description

Ceiling Fan


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.39 Acres


Architectual Style

Contemporary Mediterranean

Other Property Details

Area Name

Pacific Palisades


Days on Market

8


Garage

No


Parking

Driveway, Assigned


Parking Total

0


View

No


County

Los Angeles


Pool

No


Zoning

LAC2

Listed by James Allan with Compass
Listing Contact: 310-704-0007 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor O'Connor Estates shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 3/18/2024

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