CA > Santa Monica
Santa Monica, CA 90402,153 W Channel RD
Santa Monica, CA 90402,153 W Channel RD
Santa Monica, CA 90402,153 W Channel RD
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John Herkenrath

John Herkenrath

+1(310) 221-2910
$7,495,000
Est. payment /mo
11 Beds
10 Baths
2,700 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,700 sqft

Price per Sqft $2,775

MLS Listing ID 25493967

Bedrooms 11

HOA Y/N No

Year Built 1960

Lot Size 0.393 Acres

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.

Location

State CA

County Los Angeles

Area C15 - Pacific Palisades

Zoning LAC2

Interior

Heating Wall Furnace

Fireplace No

Appliance Dishwasher, Microwave

Exterior

Parking Features Assigned, Driveway

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 4410012028

Special Listing Condition Standard

Read Less Info
CRMLS – RECore
Listed by James Allan Compass
John Herkenrath

"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

<a href="https://maps.app.goo.gl/pirboN7SMpBm6tb18" target="_blank">3435 E Thousand Oaks Blvd #6354, Westlake Village CA 91359 </a>

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