FOR SALE
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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 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.
Home Highlights
Parking
No Info
Outdoor
No Info
A/C
Contact Manager
HOA
None
Price/Sqft
No Info
Listed
103 days ago
Home Details for 157 W Channel Rd
Interior Features |
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View Has a ViewView: Canyon, City, City Lights, Coastline |
Days on Market |
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Days on Market: 103 |
Property Information |
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Property Type / Style Property Type: LandProperty Subtype: Unimproved Land |
Price & Status |
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Price List Price: $7,995,000 |
Active Status |
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MLS Status: Active |
Location |
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Direction & Address City: Santa Monica |
Agent Information |
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Listing Agent Listing ID: 24-345733 |
Lot Information |
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Lot Area: 4321.152 sqft |
Listing Info |
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Special Conditions: Standard |
Compensation |
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Buyer Agency Commission: 2.5Buyer Agency Commission Type: % |
Notes The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed |
Miscellaneous |
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Mls Number: 24-345733Water ViewWater View: Coastline |
Last check for updates: 1 day ago
Listing courtesy of James Allan DRE # 01180635, (310) 704-0007
Compass, (310) 437-7500
Source: CLAW, MLS#24-345733
Price History for 157 W Channel Rd
| Date | Price | Event | Source |
|---|---|---|---|
| 05/17/2023 | $7,995,000 | PriceChange | CLAW #23-250961 |
| 03/15/2023 | $8,490,000 | PriceChange | CLAW #23-250961 |
| 03/15/2023 | $2,400,000 | Listed For Sale | CLAW #23-250897 |
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Property Taxes and Assessment
| Year | 2023 |
|---|---|
| Tax | $1,674 |
| Assessment | $113,292 |
Home facts updated by county records
Comparable Sales for 157 W Channel Rd
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.77 | Lot/Land | $2,559,000 | 03/05/24 | - | - | ||
1.30 | Lot/Land | $710,000 | 06/12/23 | - | - | ||
1.30 | Lot/Land | $4,500,000 | 08/14/23 | - | - | ||
2.23 | Lot/Land | $500,000 | 07/17/23 | - | - | ||
2.09 | Lot/Land | $550,000 | 02/01/24 | - | - | ||
2.55 | Lot/Land | $2,150,000 | 04/12/24 | - | - |
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Pacific Palisades
- Greg Klein
- Resident
- 1mo ago
"I grew up here, and it feels very much like home. The traffic is minimal, there’s both high and lower end shops, and it’s incredibly safe and quiet."
- Trulia User
- Resident
- 11mo ago
"I have lived here for 6 years with my family and we are all very happy here and love the neighborhood "
- Trulia User
- Resident
- 1y ago
"4th July & Halloween are the most special events in Pacific Palisades. Farmers Market every Sunday is another highlight here"
- Trulia User
- Resident
- 2y ago
"Well kept streets, close to ocean, walk to everywhere, low crime, good weather, good schools, etc. "
- Trulia User
- Resident
- 2y ago
"My daily commute is easy. PP is Less crowded and Easy access to Pacific highway and highway 10. And sunset boulevard. "
- Trulia User
- Resident
- 3y ago
"We love living here. People was ok the streets with children and pets. There is a nice mix of ages from young family to elderly. People are friendly and chat."
- Ingrida G.
- Resident
- 3y ago
"There are many families in our neighbourhood. Very good schools. A lot of hiking trails right outside our building. An amazing Lake Shrine is huge plus where we live. "
- Matthew.ritsuko
- Resident
- 3y ago
"If you can afford it, Pacific Palisades is a lovely area to raise a family. Relatively safe, clean streets, and some nice public parks in the area. Also you are close to the ocean, and hiking trails. Life is definitely more costly on the West side, but some would argue well worth it."
- Camilo R.
- Resident
- 3y ago
"The best neighborhood in all of Los Angeles. Small town feel, close to everything, involved community. "
- Mike V.
- Resident
- 3y ago
"It is very safe neighborhood with great schools, parks, and people. Small town feel set in greater Los Angeles right near the beach. "
- Jenny H.
- Resident
- 3y ago
"Short of you don’t travel far or if you leave in off peak hours. The views outweigh any downfall we would feel while sitting in traffic though. "
- Greg K.
- Resident
- 3y ago
"The neighborhood is safe and the schools are good. There are quiet neighborhood areas with friendly and watchful neighbors "
- Jimmoran7
- Resident
- 4y ago
"I’ve lived here for 9 months from the east coast but already call Pali home. The people are great, the area is stunning and the community is family oriented and nice. "
- Soniakazarova
- Resident
- 4y ago
"Friendly to dogs. Very conservative environment due to the affluence of the area. Remember to pick up after pet and you’ll be just fine. "
- Alevizos
- Visitor
- 4y ago
"I visit often , shop, good groceries , newmovie theater, coastal location with family oriented neighborhoods "
- Ash_dragon
- Prev. Resident
- 4y ago
"The pacific palisades is full of young family’s and very safe. The downtown area is super cute and the community is generally pretty friendly."
- Chelsea H.
- Resident
- 4y ago
"There are good schools and it’s safe for kids to walk around on the weekends and after school. Highly recommend!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
- Greg K.
- Resident
- 4y ago
"It’s fine, there are buses that go though here, along with Lyft and Uber. It’s easy to get to the airport LAX from here as well, since you can just go down Lincoln Blvd"
- Mail
- Resident
- 4y ago
"Heavy traffic mornings, afternoons and weekends. Dangerous fast traffic on Sunset. Pedestrians at high risk."
- Rose.bloom1
- Resident
- 4y ago
"Most people are happy to say hello to well behaved dogs. People pick up after their dogs here but I don’t like it when the use my garbage bin to throw away their bags of poop. I’m not a dog owner but if I were, I would use my own bin."
- Brook D.
- Resident
- 4y ago
"Ridiculous. Long. Zero access to public transit. Traffic is a nightmare. Major bumpy roads in the canyon. But pretty. "
- Zuzka P.
- Resident
- 4y ago
"quiet, privacy, walkable, great trick or treating, well maintained, sidewalks, village, neighborhood events"
- Bridget D.
- Resident
- 4y ago
"Great schools, park, libraries, beaches, and restaurants. We LOVE this community. Great for kids and families"
- Bridget D.
- Resident
- 4y ago
"Safe, great public and private schools everyone looks out for one another. Kind friendly people plenty for the kids to do. Plenty of restaurants and nice super market options "
- Jasonlatshaw
- Resident
- 4y ago
"Great family town!! Excellent rec center, good schools, great parks, near beaches and mountains. Safe and small town feel."
- Tom H.
- Resident
- 4y ago
"Rudest drivers in America - they don’t feel stop signs or speed limits apply to them - they run over pedestrians every day "
- Tom H.
- Resident
- 4y ago
"Residents are rude, self-entitled drivers who speed down streets, run stop signs and routine hit people and animals "
- Jennifer D.
- Resident
- 5y ago
"Lots of dogs in this neighborhood. Great for walking & visiting with neighbors and their furry friends. "
- Bonnie
- Resident
- 5y ago
"It’s a safe kid-friendly and pet friendly family oriented neighborhood. Many parents look out for other families kids if they notice something or someone out of the ordinary "
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
James Allan, Compass
© 2024 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW as of 2024-01-24 14:45:40 PST. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
157 W Channel Rd, Santa Monica, CA 90402 is a lot/land. 157 W Channel Rd is located in Pacific Palisades, Santa Monica. This property is currently available for sale and was listed by CLAW on Jan 16, 2024. The MLS # for this home is MLS# 24-345733.