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Listed by Stephen Thaddeus Wawryk • KW Bay Area Estates
$ 5,600,000
Est. payment | /mo
29,185 SqFt
$ 5,600,000
Est. payment | /mo
29,185 SqFt
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 29,185 sqft
Price per Sqft $191
MLS Listing ID ML81995434
HOA Y/N No
Lot Size 0.670 Acres
Property Sub-Type Unimproved Land
Source Datashare MLSListings
Property Description
1793 Lafayette St, Santa Clara offers a rare opportunity for an Owner/User to utilize the space and convert the 22,551 SqFt building into residential or build brand new: Condos, Apartments, Co-Living, or Live/Work. Medium-Density Residential zoning allows for 24 units + 8-9 potential ADUs - priced at $175k per unit. With the average rent in Santa Clara at $3,062, once converted into multifamily, the property can be expected to gross nearly $1.2M in rents per year. 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. Buyers are to verify current zoning/building requirements/restrictions with the City of Santa Clara building department.
Location
State CA
County Santa Clara
Interior
Fireplace No
Building
Lot Description Rectangular Lot
Schools
School District Santa Clara Unified, Santa Clara Unified
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Glen Riggs
REALTOR® | Lic# CA DRE 02161397