1637-1651 Stanford St Santa Monica, CA 90404
- Land
Current Use by Public Records
- Land
Property Details for 1637-1651 Stanford St
- Property type
- Land
Description
This exceptional 23,134 square foot land parcel in Santa Monica, California presents a remarkable multifamily development opportunity. Located at 1637-1651 Stanford Street, this property comprises four contiguous parcels zoned under the Bergamot Plan's Conservation Creative Sector. The existing vacant single-family homes allow for immediate redevelopment. The Bergamot Plan permits market-rate multifamily buildings up to 55 feet high with a 2.5 FAR, and 100% affordable housing projects can reach 65 feet with a 3 FAR. This site benefits significantly from its proximity to the 26th Street/Bergamot light rail station, enabling developers to leverage California Assembly Bill 2097 for reduced parking requirements. Furthermore, California Assembly Bill 1287 allows for a 100% density increase by allocating 15% of units to very low-income and 15% to moderate-income residents. The location offers unparalleled access to major employers including Amazon Studios, Oracle, Red Bull, GoodRX, CBS Television, and Lionsgate, ensuring strong rental demand. The asking price is $7,950,000, translating to a land value of $389.04 per square foot. The property's APN is 4268-004-024, 4268-004-023, 4268-004-022, and 4268-004-021. This is a truly unique chance to capitalize on Santa Monica's thriving real estate market and create a high-impact development.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Monica
- County
- Los Angeles
- State
- California
- Longitude
- -118.466
- Latitude
- 34.0332
