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    Land in Rustic Canyon Title is generated by Realmo AI

    639 Hightree Rd, Santa Monica, CA 90402

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    Claim this Listing
    For Sale
    $1,995,000

    LAND - Santa Monica, CA

    Lot size:
    0.37 Acres
    Added:
    Feb 12, 2026
    Days on Market:
    106
    Last Refresh:
    May 29 at 9:06 pm

    Property Features for 639 Hightree Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    UNAVAILABLE
    Lot size
    0.37 Acres

    Utilities

    Water front features
    Stream

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    Listing Contact
    Nicholas Sandler

    Listing agent Nicholas Sandler License #02003365

    Listing office The Agency 331 Foothill Rd. #100, Beverly Hills, CA

    Listing date Feb 12, 2026

    MLS# 26650937 Listing URL

    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.

    HighLights

    • Rare undeveloped lot in Rustic Canyon, one of only two available.
    • Opportunity to build a ~5,000 sq ft home on a single lot or up to 10,800 sq ft across both lots.
    • Large 16,184 sq ft lot.
    • Located behind a private bridge with a stream and mature trees.
    • Site of a previously envisioned Ray Kappe mid‑century masterpiece (plans approved).
    • Situated in a historic location, once home to a 1920s open‑air amphitheater.

    Overview

    Located behind a private bridge where a creek flows beneath mature trees, the property at 639 Hightree Road is one of two undeveloped lots in Rustic Canyon. Situated off Hightree Road, the land is surrounded by hillsides that once housed a 1920s open-air amphitheater. In 1979, Ray Kappe envisioned a mid-century design for the lot, with plans approved but never built. The lot offers a canvas for development in a storied setting. The property offers 16,184 square feet (0.3715 acres), with the potential to build approximately 5,000 square feet on the single lot. The property is located in Santa Monica, CA.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness 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
    -118.515747
    Latitude
    34.039505

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    FAQs

    What type of property is this?
    Residential land & home lot - Rare undeveloped land in Santa Monica's Rustic Canyon.
    Where is this residential land & home lot located?
    The property is located at 639 Hightree Rd Santa Monica, CA.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: Rare undeveloped lot in Rustic Canyon, one of only two available.; Opportunity to build a ~5,000 sq ft home on a single lot or up to 10,800 sq ft across both lots.; Large 16,184 sq ft lot.
    (310) 924-5275
    We can help!
    Listing Contact
    Nicholas Sandler
    Real Estate License ID: 02003365
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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
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