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Listed by Stephen Thaddeus Wawryk • KW Bay Area Estates
$5,900,000
Est. payment /mo
0.67 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Residential Development Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81995434
Lot Size 0.670 Acres
Property Sub-Type Residential Development Land
Property Description
Price Reduction | 1793 Lafayette St, Santa Clara offers a rare opportunity for an owner/user to utilize the space with the option of converting the 22,551 SqFt building into residential: Live/Work, Apartments, Co-Living, or Condos - 27 units or more | $240,740 per unit. With the average rent in Santa Clara at $3,062, once converted, the property can be expected to gross $1,000,000 in rents. Conveniently located less than a 10-minute drive from San Jose Mineta International Airport and Santa Clara Square Marketplace, this space resides within a thriving community with nearby amenities and parks. Recent upgrades to the building include a new roof and a 36 kW photovoltaic solar system, complemented by Silicon Valley Power, which ensures low energy costs. The owner/user tenant can occupy approximately 15,000 sq ft or the entire second floor. Rents and home prices continue to climb, with demand for new townhomes, apartments, and condos evident in an ever-growing Silicon Valley. The property is designated for medium-density residential use in the General Plan, allowing for 20-36 DU/acre. Per Planning department conversations, you can show plans to get the building up to residential code and then convert the building for residential use.
Location
State CA
County Santa Clara
Area Santa Clara
Zoning Medium Density Residential
Exterior
Fence Gate
Utilities Available Public Utilities
Present Use Office
Building
Lot Description Regular
Sewer Sewer - Public
Water Public
Others
Tax ID 224-29-021
Horse Property No
Special Listing Condition Not Applicable
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