Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1661 Appian Way Santa Monica, CA 90401-3244
    Back to Search
    Property profile & analytics

    1661 Appian Way, Santa Monica, CA 90401-3244

    View on Map
    • Motels
    • 4,368 SF
    • 0.10 lot acres
    Off-Market
    Last Sale Oct 2, 2024
    $5,400,000
    Property ID
    US09-6368549
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $5,400,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Villa Appia / Apartment Building / Indoor Lodging

    Property Details for 1661 Appian Way

    Year built
    1948
    Construction
    WOOD
    Lot size
    0.10 lot acres
    Zone code
    SMR3*
    Property type
    Motels
    APN
    4290-018-007
    APU
    4290018007

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 2, 2024 $5,400,000 1661 Appian Way Properties LLC 1661 Appian Way LP Grant Deed $2.6M · Hanmi Bank
    Jan 11, 2021 — 1661 Appian Way LLP — Deed · related $2.5M · Axos Bank
    Oct 19, 2016 — 1661 Appian Way LP Tova Kitron Grant Deed $2.2M · Bofi Federal Bank
    May 8, 2006 $2,700,000 Tova Kitron Alan Kapliow Grant Deed $1.5M · Luther Burbank Savings
    Jan 21, 2005 $961,500 Awk Trust Goldman Glenn L Trust Grant Deed —
    Sep 21, 2001 — Goldman,glenn L Tr Goldman,g L Quit Claim Deed · related —
    May 22, 1992 $576,000 Glenn L Goldman Burgess,henry L Grant Deed $300k · California Center Bank
    — — Tova Kitron — Deed Of Trust · related $100k · Sexton Sherry (te)
    — — Glenn L Goldman — Deed Of Trust · related $400k · First Federal Savings & Loan
    — — Tova Kitron — Deed Of Trust · related $100k · Striepeke Family Trust
    — — Goldman,tr — Deed Of Trust · related $900k · Quaker City Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,400,000
      ML approach
      $5,400,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,610,000
      COMMERCIAL (GENERAL)
      $3,325,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Monica
    County
    Los Angeles
    State
    California
    Longitude
    -118.494
    Latitude
    34.0096
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $43,257
    $2,947,533
    $669,888
    $3,617,421
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $540,000
      6,236 SF

      1667 Ocean Ave

      MOTEL
      1667 Ocean Ave, Santa Monica, CA 90401-3211
      View Details
    • Value Estimation by Request
      3,621 SF

      1670 Ocean Ave

      MOTEL
      1670 Ocean Ave, Santa Monica, CA 90401-3212
      View Details
    • Value Estimation by Request
      3,360 SF

      36 Arcadia Ter

      MOTEL
      36 Arcadia Ter, Santa Monica, CA 90401
      View Details
    • Value Estimation by Request
      2,841 SF

      28 Arcadia Ter

      MOTEL
      28 Arcadia Ter, Santa Monica, CA 90401
      View Details
    • Value Estimation by Request
      4,541 SF

      1665 Ocean Ave

      MOTEL
      1665 Ocean Ave, Santa Monica, CA 90401-3211
      View Details
    • Value Estimation by Request
      5,687 SF

      1760 Ocean Ave

      MOTEL
      1760 Ocean Ave, Santa Monica, CA 90401-3214
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Santa Monica Retail Investment Opportunity

      Single tenant West Elm property in prime Santa Monica location.
      1427 4Th St, Santa Monica, CA 90401
      View Details
    • $21,995,000
      15,600 SF

      Santa Monica Office Building For Sale

      Office building in Santa Monica available for purchase.
      1119 Colorado Ave, Santa Monica, CA 90401
      View Details
    • Contact for pricing
      3,810 SF

      Apartment Building Near Santa Monica Pier

      Remodeled apartment building near the beach and Santa Monica Pier.
      35 Arcadia Ter, Santa Monica, CA 90401
      View Details
    • Contact for pricing
      19,235 SF

      Creative Office/Flex/Industrial Space Available

      Creative office, flex, or light industrial space for lease.
      1438-1444 9Th St, Santa Monica, CA 90401
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Santa Monica, CA.
      301 Wilshire Blvd, Santa Monica, CA 90401
      View Details
    • Contact for pricing

      Santa Monica Retail or Office

      Retail or office space available for lease in Santa Monica.
      1507 Lincoln Blvd, Santa Monica, CA 90401
      View Details
    • Contact for pricing

      Office Space for Lease

      Office space available for lease in Santa Monica, CA.
      900 Wilshire Blvd, Santa Monica, CA 90401
      View Details
    • Contact for pricing

      Retail Property in Santa Monica

      100% leased retail property in Santa Monica, California.
      1221 2Nd St, Santa Monica, CA 90401
      View Details
    • Contact for pricing
      20,543 SF

      Retail Space on 3rd Street

      Prime retail opportunity on the Third Street Promenade.
      1441 3Rd Street Promenade, Santa Monica, CA 90401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1661 Appian Way
    Santa Monica, CA 90401-3244
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1661 Appian Way, Santa Monica, CA, 90401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!