1637 Stanford, Santa Monica, CA 90404 (MLS # SB24031693)
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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 thecountry with many world-renowned companies calling the neighborhood home. 1637-1651 StanfordStreet is located blocks away from some of the nation’s most prestigious companies which includeAmazon Studios, Oracle, Red Bull, GoodRX, CBS Television and Lionsgate.1637-1651 Stanford Street consists of four contiguous parcels on a totalof 23,134 SF of land. The sites are all located within the Conservation Creative Sector of the BergamotPlan. 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 Bill1287, a developer can increase the density by 100% by allocating 15% of the units to very low income, and15% of the units to moderate income.
| DAYS ON MARKET | 95 | LAST UPDATED | 5/17/2024 |
|---|---|---|---|
| COMMUNITY | Santa Monica | COUNTY | Los Angeles |
| STATUS | Active | PROPERTY TYPE(S) | Lot/Land/Acreage |
| PRICE HISTORY | |
| Prior to Mar 4, '24 | $11,250,000 |
|---|---|
| Mar 4, '24 - Mar 27, '24 | $10,900,000 |
| Mar 27, '24 - May 17, '24 | $9,999,000 |
| May 17, '24 - Today | $8,999,999 |
| ADDITIONAL DETAILS | |
| AREA | Santa Monica |
|---|---|
| BUYER'S BROKERAGE COMPENSATION | |
| HOA DUES | 0 |
| LOT | 0.53 acre(s) |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | SMLMSD*, Conservation: Creative Sector |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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