Charming home on a large corner lot in prime Santa Monica! This charming single family home offers a thoughtfully designed floor plan, featuring a spacious living room bathed in natural light, a formal dining room that sets the stage for memorable gatherings, and a generous kitchen with stainless steel appliances, ensuring both functionality and comfort. Escape to the enchanting private backyard oasis that provides the perfect backdrop for alfresco dining, leisurely afternoons, and year-round California living at its finest. Located just moments away from LA's vibrant dining, shopping, Farmers Markets, and grocery stores like Erewhon, Whole Foods, Trader Joes, and Bristol Farms, every convenience is at your fingertips. Plus, families will appreciate the proximity to Santa Monica's top-rated schools, ensuring a quality education for young learners. Plus, explore the added opportunity of converting the garage into an Accessory Dwelling Unit (ADU), providing additional living space or rental income. Huge Development/Investment Potential: Build up to a 13-unit apartment/condo building on the site with the application of the State Density Bonus Law and State Multifamily ADU Law. Because this property qualifies for the State Density Bonus Law, a developer could build up to 4 stories (instead of 2) and get significantly reduced setbacks on all sides. Because the property is on a corner with an alley, any development would be open on 3 sides - allowing for great sunlight and unobstructed views. Because the development would be replacing a single family home that is not subject to rent control, the new development would also be exempt from both city and state rent control - a huge and rare advantage in a jurisdiction like Santa Monica. This property has the potential to be a true trophy asset and cash cow in one of the strongest rental markets in the nation.
|
DAYS ON MARKET
|
10
|
LAST UPDATED
|
4/24/2024
|
|
YEAR BUILT
|
1941
|
COMMUNITY
|
Santa Monica
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Single Family
|
|
|
| AIR |
None |
| APPLIANCES |
Dishwasher, Dryer, Microwave, Washer |
| AREA |
Santa Monica |
| BUYER'S BROKERAGE COMPENSATION |
2.500 % |
| GARAGE |
Driveway |
| LOT |
6219 sq ft |
| PARKING |
Driveway |
| POOL DESCRIPTION |
None |
| STORIES |
1 |
| STYLE |
Contemporary |
| VIEW |
Yes |
| ZONING |
SMR2* |
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Listed with Cyrus Pacific Realty, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/4/24 5:26 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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