107 and 117 West Channel Road

Santa Monica, CA 90402

SOLD
Property Summary

Price:

Cap Rate:

GRM:

Rentable Sq Ft:

Lot Size:

Approx Year Built:

Units:

Price Per Unit:

Price Per Sq Ft:

$3,925,000

5.42%

16.35

5,137

7,057 SF

1915

9

$436,111

$764

Deal Highlights
  • All Cash Buyer

  • Multiple Offers

  • Set Market Record

Asset Highlights
  • Prime Santa Monica Location, Subject to Los Angeles Rent Control

  • (LAC2)

  • Master-Leased Tenant Covers Majority of Expenses

  • Extensive Renovation to Interior and Exterior

  • Walking Distance to the Beach, Bars, Shops, and Restaurants

  • Great Curb Appeal

  • Bright and Spacious Units

  • Rare Investment Opportunity Intersection.

Property Description

The Frydman Group is pleased to present this unique mixed use building that consists of nine apartment units and retail, and is located right of off Pacific Coast Highway on 107 & 117 West Channel Road in the city of Santa Monica, CA.

 

The buildings were built in 1915 and 1925 and although they share Santa Monica’s zip code and city location, are actually subject to Los Angeles rent roll regulations, with LAC2 zoning. Aside from being located steps from the beach, this unique mixed facility is occupied by a master tenant that covers the majority of expenses associated with the property and in many ways is similar to a traditional net leased investment.

 

The master tenant, SOBA Living provides renowned services in addiction including inpatient, detoxification, sober lifestyle community, outpatient services, and extended care.

 

The outpatient recovery center is located at 107 and 117 West Channel Road and consists of five studios, two one-bedroom/one-bathroom units, and a two-bedroom/two-bathroom house. The property also includes a three-bedroom/two-bathroom house that is the only portion of the offering that is independent of the master lease to SOBA Living, LLC.

 

Amenities include hardwood floors, stainless steel kitchens, travertine bathrooms, on-site parking, and laundry facilities.

THE FRYDMAN GROUP

Commercial Real Estate

Meir Mark Frydman

Managing Director

National Multi Housing Group

National Land Group

  • LinkedIn - White Circle
CONTACT

2701 Ocean Park Blvd#140

Santa Monica, CA 90405

Direct: (310)300-4844

Fax: (818)975-5319

Email: info@frydmangroup.com

www.FrydmanGroup.com

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CAL BRE#01499010

1 - 107-117 West Channel Road