1637 Stanford
Santa Monica, CA 90404
0.53 acres | #SB24031693
Description
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 nation’s 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 parking requirements for housing projects. In addition, by utilizing the newly passed bill, California Assembly Bill
1287, a developer can increase the density by 100% by allocating 15% of the units to very low income, and
15% of the units to moderate income.
Property Details
- CountyLos Angeles
- Original List Price$11,250,000
- MLS #SB24031693
- MLS #SB24031693
- Property TypePurchase
- Cost7950000
- Acres0.5311
- Utility SourcePublic
- Property SubtypeLand
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Nico Rosmarin (#SBROSMNIC)
Listing Office: Lyon Stahl Investment Real Estate, Inc. (#sb1310620)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
