Description

This property has not been on the market in 57 years. No Tenant occupancy in 57 years, which relieves the rules about rent control and affordable housing units unless one wants to built a 3+story property. This property has 3 Cottages built in the 1920's, (see photos) not currently habitable but there is a possibility to restore them, PLUS add another unit on the back of the lot. Per an architect, 3 new units of 1750+ square feet each can be built on the lot, along with another unit in the rear (not guaranteed ~ please make your own investigations). Alley access to the rear of the lot for parking access. A Condo one block away sold for $2.5M within the last 12 months. Excellent pencil potential. Very short walk to the beach, excellent rental or resale area. Please see the added Documents for Santa Monica City and architect notes, written by a former member of the Santa Monica Architectural Review Board. We are told that the width of this lot is not an issue as to density. All interested parties are not to rely on statements from this listing as to viability of future projects; all are directed to make their own investigations. Please do not walk the property without Listing Agent.