Beds4
Baths4
Sq.Ft.2,923
Year1928
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Status:
Active
Property Type:Residential Income (Multi-Family)
MLS #:23250961
Sq. Feet:2,923
On Site:12 Days
Lot Size:17,136 Sq. Ft.
County:Los Angeles
Listing Agent/Office
Agent:James Allan
Office:Compass
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. 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. 1300 sq ft (Owners Home) vacant at close of escrow with projected rent of $90,000 yearly. Additional vacant 4488 sq ft lot being used as a garden.Preliminary Development feasibility for the property has been conducted.
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Community Information
Address:157 W Channel Rd, Santa Monica, CA 90402
County:Los Angeles
City:Santa Monica
Zip Code:90402
Architecture
Bedrooms:
4
Bathrooms:
4
Year Built:1928
Stories:2
Building Area: 2923.0
Number of Buildings: 3
Total Units: 8
Stories Total: 2
Unit 1: 4 Units • 1 Bed • 1 Bath • Unfurnished • $3,500 actual rent • $3,500 total rent • $3,500 pro forma
Unit 2: 4 Units • 1 Bed • 1 Bath • Unfurnished • $3,500 actual rent • $3,500 total rent • $3,500 pro forma
Parking Features: Assigned
Features / Amenities
Appliances: Dishwasher, Microwave
Heating: Wall Furnace
Property Features
Lot Size:
0.39 Acres / 17,136 Sq. Ft.
Zoning:LAC2
Directions:PCH to West Channel
Tax and Financial Info
Gross Income: $277,731
Net Operating Income: $201,531
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157 W Channel Rd Santa Monica, CA 90402
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Based on information from California Regional Multiple Listing Service, Inc. as of March 26, 2023. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. IDX provided by Sierra Interactive.
