$8,999,999 Price Analysis   ♡   Santa Monica, CA 90404 Unknown bed 0 bath unknown SqFt ($0/SqFt) 0.53 acre lot. Listed 2024-02-14 | Ⓧ USDA Ineligible due to property near Santa Monica |
We are pleased to present 1637-1651 Stanford Street
A multifamily development opportunity in Bergamot neighborhood of Santa Monica. The Bergamot Neighbor of Santa Monica is one of the most desirable development markets in the country with many world-renowned companies calling the neighborhood home. 1637-1651 Stanford Street is located blocks away from some of the nations most prestigious companies which include Amazon Studios, Oracle, Red Bull, GoodRX, CBS Television and Lionsgate. 1637-1651 Stanford Street consists of four contiguous parcels on a total of 23, 134 SF of land.
The sites are all located within the Conservation Creative Sector of the Bergamot Plan. For Housing Projects located within the Conservation Creative Sector, the plan allows for market-rate multifamily to reach a height of 55 ft with a FAR of 2.5 while 100% affordable housing developments are allowed a maximum height of 65 ft with a FAR of 3. The sites are located within a half mile of the 26th Street/Bergamot light rail Metro line giving developers the ability to use California Assembly Bill 2097 to significantly reduce the pa rking requirements for housing projects. In addition, by utilizing the newly passed bill, Calfornia Assembly Bill 1287, a developer can increase the density by 100% by allocating 15% of the units to low income and 15% of the units to moderate income.
Presented by Nico Rosmarin at
Lyon Stahl Investment Re, Inc.
Property MLS #SB24031693 from CRMLS
Lot Description: Lot 20000-39999 Sqft
Lot Size Acres: 0.5311
Lot Size Source: Public Records
Lot Size Square Feet: 23134
County: Los Angeles
Directions: Cross Streets are Stanford and Colorado
Source Property Type: Land
Area: C14 - Santa Monica
Source Neighborhood: C14 - Santa Monica
Parcel Number: 4268004024
Zoning: SMLMSD
Zoning Description: Conservation: Creative Sector
Source System Name: C2C
$8,999,999
CRMLS
Price Changed 2024-03-27
$9,999,000
CRMLS
Price Changed 2024-03-04
$10,900,000
CRMLS
Listed 2024-02-14
$11,250,000
CRMLS
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.