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    153 W Channel Rd Santa Monica, CA 90402

    View on Map
    Sponsored
    For Sale
    $7,495,000

    MULTI_FAMILY - Santa Monica, CA

    Property size:
    2,700 SF
    Lot size:
    0.10 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 18 at 6:06 am

    Property Features for 153 W Channel Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    LAC2
    Rooms
    Bathroom 6, Bedroom 9, Bathroom 4, Bedroom 4, Bathroom 1, Bedroom 8, Bathroom 7, Bathroom 2, Bathroom 5, Bedroom 6, Bathroom 8, Bedroom 2, Bedroom 10, Bedroom 3, Bedroom 7, Bathroom 10, Bedroom 11, Bedroom 1, Bathroom 3, Bedroom 5, Bathroom 9
    Bedrooms
    11
    Bathrooms
    10
    APN
    4410-012-028
    Parking features
    Assigned, Driveway
    Size
    2,700 SF
    Lot size
    0.10 Acres

    Utilities

    Cooling system
    Ceiling Fan(s)

    Building Details

    Year built
    1960
    Floors in Building
    2
    Number of units
    9

    We can help!

    Listing Contact
    James Allan

    Compass

    Listing agent James Allan (310) 437-7500 License #01180635

    Listing date Mar 10, 2026

    MLS# 26638663

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Santa Monica Canyon Development Opportunity

    Located in the Santa Monica Canyon, this rare development opportunity is situated one-fifth of a block from the beach. The property, with a Santa Monica mailing address but governed by Los Angeles City building codes, is located between W Channel Rd and backs onto Chautauqua Blvd. The total lot size is 17,136 square feet, comprised of four separate parcels. These parcels, to be sold concurrently, currently include two four-unit buildings, a single-family house, and a vacant lot. The current zoning, LAC2, could allow for 30 units, and an R-4 density bonus could potentially allow up to 59 units if parking limits are met. One of the four-unit buildings, located at 153 W Channel Rd, offers ocean views and has a current gross income of $139,016 per year, with three units vacant at the close of escrow. The other four-unit building, located at 157 W Channel Rd, is a two-story structure built in 1928 with canyon and ocean views and a current gross income of $158,532, with three units being delivered vacant at close. The single-family home, approximately 1500 square feet with three bedrooms and two bathrooms, also offers some ocean views and will be vacant at the close of escrow. The projected rent for this home is $96,000 yearly. The vacant lot is 4488 square feet and is currently used as a garden. Preliminary development feasibility studies have been conducted, and renderings are available from Ketter Construction and development firm for a 30-unit building with one commercial space and a gym, which could later be converted to an ADU. The property's potential market rent is $444,000 at a 4 cap.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Crawford Air Duct ... HVAC Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.518623
    Latitude
    34.029255

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    FAQs

    What type of property is this?
    Apartment building - Rare development opportunity near the beach in Santa Monica Canyon.
    Where is this apartment building located?
    The property is located at 153 W Channel Rd Santa Monica, CA.
    What is the asking price?
    The asking price for this property is $7,495,000.
    What are key features of this property?
    This property features: - Rare development opportunity: Four contiguous parcels totaling 17,136 sq ft, located 1/5 block from the beach in Santa Monica Canyon.; - High-density development potential: Zoned C-2Q, allowing for 30 units, with potential for up to 59 units using R-4 density bonus (subject to parking requirements).; - Existing income-generating properties: Includes two 4-unit buildings and a single-family home, with a potential market rent of $444,000 at a 4 cap.
    (310) 704-0007
    Request Owner's contact information
    153 W Channel Rd Santa Monica, CA 90402
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    Santa Monica, CA 90402
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    153 W Channel Rd Santa Monica, CA 90402
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    We can help!
    Listing Contact
    James Allan
    Real Estate License ID: 01180635
    (310) 704-0007 (310) 437-7500
    Learn more
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