107 W Channel Road

    Santa Monica, CA 90402
    • $5,200,000
    • STATUS: Active
    • ON SITE: 26 days
    • ID#: 18358644
    UPDATED: 20 min ago
    $5,200,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,927
      SQFT
    • $1,324
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    111-117 Channel Road, two contiguous lots, includes (10) residential units and(1) retail space on more than 7,000 square feet of land zoned LAC2. Property is 50 yards from the sand, with spectacular ocean views.The retail unit benefits from high visibility and all tenants enjoy easy access to the beach, bike path and numerous restaurants in walking distance. The property is currently leased for $27,000/mo. by Soba Living of Malibu through 2019. Tenant pays all utilities including water, gas, electricity, and trash. In addition, tenant is responsible for maintenance and repairs. The units are currently being operated as short term rentals and the entire property can be delivered vacant for the new owner. This is a significant opportunity to add value in an A+ location. Although property has a Santa Monica zip code, it falls under LA rent control (Buyer to confirm).

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-22T10:26:45.493. 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.
    www.playavistaliving.com/homes/84999831

    107 W Channel Road Santa Monica, CA 90402

    • Price: $5,200,000
    • Status: Active
    • Updated: 20 min ago
    • ID#: 18358644
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    3,927
    SQFT
    $1,324
    $/SQFT
    1923
    Built
    Neighborhood:
    C15 - Pacific Palisades
    County:
    Los Angeles
    Area:
    C15 - Pacific Palisades
    Property Description
    111-117 Channel Road, two contiguous lots, includes (10) residential units and(1) retail space on more than 7,000 square feet of land zoned LAC2. Property is 50 yards from the sand, with spectacular ocean views.The retail unit benefits from high visibility and all tenants enjoy easy access to the beach, bike path and numerous restaurants in walking distance. The property is currently leased for $27,000/mo. by Soba Living of Malibu through 2019. Tenant pays all utilities including water, gas, electricity, and trash. In addition, tenant is responsible for maintenance and repairs. The units are currently being operated as short term rentals and the entire property can be delivered vacant for the new owner. This is a significant opportunity to add value in an A+ location. Although property has a Santa Monica zip code, it falls under LA rent control (Buyer to confirm).
    Exterior Features

    Lot Size Source See Remarks Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 4.98 Gross Multiplier 16.50 Gross Operating Income 324000.00 Laundry YN Yes Net Operating Income 259000.00 Special Listing Conditions Standard Total Expenses 65000.00 Zoning Lac2

    Listing provided courtesy of Kenny Stevens of Concord Real Estate Service.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-22T10:26:45.493. 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.
     
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