Homes for sale - 1637 Stanford, Santa Monica, CA 90404

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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$7,950,000

Est. payment - /mo

0.53 Acres Lot

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UPDATED:

10/10/2024 06:09 PM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB24031693

HOA Y/N No

Lot Size 0.531 Acres

Property 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.

Location

State CA

County Los Angeles

Area C14 - Santa Monica

Zoning SMLMSD*

Interior

Fireplace No

Exterior

Community Features Urban

View Y/N No

View None

Building

Water Public

New Construction No

Others

Senior Community No

Tax ID 4268004024

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by Nico Rosmarin • Lyon Stahl Investment Real Estate, Inc. • 303-819-5225

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

1637 Stanford Santa Monica, CA 90404