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1420 20th St - 1420 20th St
0.34 Acres of Residential Land Offered at £6,358,359 in Santa Monica, CA 90404
INVESTMENT HIGHLIGHTS
- Walkable Lifestyle surrounded by Best-In-Class Shopping and Dining
- Limited Hotel Supply
- Healthcare Driven Market
- Fully Entitled Streamlined Development Opportunity
- Diverse and Vibrant Community
- Strong Economic Fundamentals
EXECUTIVE SUMMARY
The Property is approved for development as an eight-story building, comprising 50 multifamily units, 40 hotel keys, ground floor retail, an activated rooftop pool and deck, shared community rooms, and 2 levels of subterranean parking. Additionally, there is the potential to increase the density by an additional 35 apartment units, further enhancing the project’s residential capacity.
The Property in Santa Monica enjoys a prime location in one of the world’s most recognized and dynamic cities. Santa Monica is known for its beautiful beaches, iconic pier, and lively Third Street Promenade, all of which attract tourists from around the globe.
Positioned near numerous tourist attractions, acclaimed restaurants, and a thriving nightlife scene, this area benefits from strong multifamily and hospitality market fundamentals. Additionally, the property is just a short walk to the Expo Line’s 17th Street/Santa Monica College Station, providing easy access to downtown Los Angeles and beyond.
This site offers an exceptional opportunity to develop luxury apartments and a high-end boutique hotel in a prestigious and sought-after destination, capitalizing on the area’s unique blend of natural beauty, cultural attractions and urban convenience.
PROPERTY FACTS
| Price | £6,358,359 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| Sale Condition | Development Sale | Total Lot Size | 0.34 AC |
| No. Lots | 1 |
| Price | £6,358,359 |
| Sale Type | Investment |
| Sale Condition | Development Sale |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.34 AC |
1 LOT AVAILABLE
Lot
| Price | £6,358,359 | Lot Size | 0.34 AC |
| Price Per AC | £18,701,055.13 |
| Price | £6,358,359 |
| Price Per AC | £18,701,055.13 |
| Lot Size | 0.34 AC |
DESCRIPTION
The Property is situated on 20th St in Santa Monica off of Santa Monica Blvd in the heart of Santa Monica. To the North, the site abuts a low-rise multifamily building and to the South the site abuts the Gateway Hotel Santa Monica. Currently, the Property is comprised of a an existing 10-unit multifamily complex that has been completely vacated with no tenants currently residing in the building.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £966,243 | |
| Land Assessment | £2,254,567 | Total Assessment | £3,220,810 |
PROPERTY TAXES
ZONING
| Zoning Code | SMR2 |
| SMR2 |
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1420 20th St - 1420 20th St
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