2005 4th Street, Santa Monica, CA 90405

Property Description

3 VACANT COTTAGES; FOUR BLOCKS TO THE BEACH IN SANTA MONICA + 40% OF THE LOT UNIMPROVED. ALLEY ACCESS. MANY POSSIBILITIES: BUILD MORE UNITS? 8 UNITS NEXTDOOR ON SAME SIZE LOT. SB 79 allows for density bonuses (MORE UNITS) built near transit stops, and probably applies here/you investigate. OR RESTORE 3 1924 BUNGALOW COTTAGES? BUILD 3 CONDOS + 1 JR ADU? 3 Cottages, vacant and currently not habitable; great restoration project. 40% of the lot is VACANT. Property has water, sewer, electric and gas lines intact, new roofs. FOUR BLOCKS TO BEACH & Prime MAIN STREET, SaMoHi and DOWNTOWN SANTA MONICA very close, PCH & 10 access. HIGHEST AND BEST USE: Build MULTI UNIT taking advantage of NEW CA DENSITY BONUSES (8 units nextdoor are on the same size lot) Some restrictions may apply. SB 79 may apply, (see ADDITIONAL DENSITY BONUSES in DOCS). OR: Build 4 New Condos (one block away, 1 condo SOLD LAST YEAR FOR $2.5M: check 1919 4th Street). Not on market in 60 years. One Option: Build 3 New Units of 1750 +/- sf PLUS 1 Jr ADU; per ARCHITECT from SANTA MONICA ARCHITECTURAL REVIEW BOARD; exceptions for lot width may apply; Parking access from cul-de-sac Alley. 3 VACANT COTTAGES; FOUR BLOCKS TO THE BEACH IN SANTA MONICA + 40% OF THE LOT UNIMPROVED. ALLEY ACCESS. MANY POSSIBILITIES: BUILD MORE UNITS? 8 UNITS NEXTDOOR ON SAME SIZE LOT. SB 79 allows for density bonuses (MORE UNITS) built near transit stops, and probably applies here/you investigate. OR RESTORE 3 1924 BUNGALOW COTTAGES? BUILD 3 CONDOS + 1 JR ADU? 3 Cottages, vacant and currently not habitable; great restoration project. 40% of the lot is VACANT. Property has water, sewer, electric and gas lines intact, new roofs. FOUR BLOCKS TO BEACH & Prime MAIN STREET, SaMoHi and DOWNTOWN SANTA MONICA very close, PCH & 10 access. HIGHEST AND BEST USE: Build MULTI UNIT taking advantage of NEW CA DENSITY BONUSES (8 units nextdoor are on the same size lot) Some restrictions may apply. SB 79 may apply, (see ADDITIONAL DENSITY BONUSES in DOCS). OR: Build 4 New Condos (one block away, 1 condo SOLD LAST YEAR FOR $2.5M: check 1919 4th Street). Not on market in 60 years. One Option: Build 3 New Units of 1750 +/- sf PLUS 1 Jr ADU; per ARCHITECT from SANTA MONICA ARCHITECTURAL REVIEW BOARD; exceptions for lot width may apply; Parking access from cul-de-sac Alley. This is one version of the phrase I have seen used in private agent remarks: Broker/Agent does not guarantee the accuracy of square footage, lot size, zoning, rent control, permits, use code, schools and/or other information concerning the conditions or features of the property provided by the seller or obtained from public records or other sources. Buyer is advised to independently verify the accuracy of all MLS info through personal inspection and with appropriate professionals.