Entitled Land Ready to
355 1st St, Los Altos, CA 94022
- Added:
- Mar 30, 2026
- Days on Market:
- 62
- Last Refresh:
- May 30 at 4:06 am
Property Features for 355 1st St
General Information
- Property type
- Land
- Property subtype
- Unimproved Land
- Standard status
- Active
Building Details
- Architectural style
- Other
Listing agent Alan Canas
Listing office Engel & Völkers Burlingame 1408 Chapin Avenue, Burlingame, CA (650) 343-9059
Listing date Mar 30, 2026
MLS# AM-5514036
Listing URL
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully Entitled & Ready‑to‑Issue (RTI) - Shovel Ready project with AHA, Final Map, and base monitoring contracts secured.
- Premium 50‑Unit Scale & Mix - Rare density with highly desirable 2- and 3‑bedroom floor plans.
- Superior Parking Infrastructure - 113 traditional, non‑tandem parking spaces with EV charging for every unit and dedicated bike parking.
- Proven Top‑of‑Market Exits - Positioned for luxury buyers, supported by comparable sales exceeding $2,050 / Sq. Ft.
- Standout Design & Amenities - 4‑story wood frame over subterranean parking with central atrium and expansive rooftop deck with greenery and dog park.
- Projected ~17.1% project level IRR - Supported by strong market fundamentals and limited new condo supply.
Overview
This is a fully entitled and ready-to-issue land parcel. Years of entitlement risk, plan checks, and environmental mitigations have been cleared. The project will be delivered shovel-ready with the AHA, Final Map, and base monitoring contracts secured. The property allows for a premium 50-unit scale and mix, with density that is extremely rare for this municipality, heavily weighted toward highly desirable, high-value 2- and 3-bedroom floor plans. Superior parking infrastructure includes 113 traditional, non-tandem parking spaces featuring EV charging for every unit and dedicated bike parking. There are zero mechanical stackers or puzzle lifts, eliminating a major friction point for luxury buyers. The property is positioned for luxury buyers, supported by highly relevant recent comparable sales exceeding $2,050 per square foot. The design features a thoughtfully designed 4-story wood frame over subterranean parking. It features a stunning central atrium for natural light and an expansive, programmed rooftop deck flanked by lush greenery and a private dog park. The projected project level IRR is approximately 17.1%, supported by strong market fundamentals and limited new condo supply.
Property Profile
Location Intelligence
Current Use by Public Records
Residential land & home ...
Location Insight
- Map
- Local Demand
- City
- Los Altos
- County
- Santa Clara
- State
- California
- Longitude
- -122.1163387
- Latitude
- 37.3762127
Nearby Similar for Sale
FAQs
What type of property is this?
Residential land & home lot - Ready-to-issue land for a 50-unit residential project.
Where is this residential land & home lot located?
The property is located at 355 1st St Los Altos, CA.
What is the asking price?
The asking price for this property is $40,000,000.
What are key features of this property?
This property features: Fully Entitled & Ready‑to‑Issue (RTI) - Shovel Ready project with AHA, Final Map, and base monitoring contracts secured.; Premium 50‑Unit Scale & Mix - Rare density with highly desirable 2- and 3‑bedroom floor plans.; Superior Parking Infrastructure - 113 traditional, non‑tandem parking spaces with EV charging for every unit and dedicated bike parking.
