11 bedroom house for sale
$7,995,000 - Santa Monica CA 90402Advertisement
Overview
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.Advertisement
Santa Monica CA 90402
11 bedroom house for sale
- Beds: 11
- Baths: 10
- Price: $7,995,000
- :
- Area: 2,700 sqft
Location
Santa Monica CA 90402
11 bedroom house for sale
House Santa Monica
This House for sale is located at Santa Monica CA 90402. The home has 11 Bedroom and 10 Bathrooms. This 11 bedroom House in Santa Monica CA is for sale for $7,995,000 .
Disclaimer
2024-03-16, Viewed 1 times.
Disclaimer
The information about this listing comprises a listing advertisement. Listanza makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information. Further, Listanza has no control over the content. The information is provided and maintained by the owner/agent. Please contact the owner/agent directly to obtain any additional information.
2024-03-16, Viewed 1 times.
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