$ 7,950,000
1637 Stanford Santa Monica, CA 90404
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Listed by Nico Rosmarin • Lyon Stahl Investment Real Estate, Inc.
$ 7,950,000
Est. payment /mo
Active
1637 Stanford Santa Monica, CA 90404
23,134 SqFt
UPDATED:
10/11/2024 01:43 AM
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 23,134 sqft
Price per Sqft $343
MLS Listing ID CRSB24031693
HOA Y/N No
Originating Board Datashare California Regional
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 1
Location
State CA
County Los Angeles
Interior
Fireplace No
Exterior
View None
Building
Water Public
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