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Listed by Stephen Thaddeus Wawryk • KW Bay Area Estates
$5,900,000
Est. payment /mo
22,659 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 22,659 sqft
Price per Sqft $260
MLS Listing ID ML81995430
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1936
Lot Size 0.670 Acres
Property Sub-Type Detached
Property Description
Price Reduction | 1793 Lafayette St, Santa Clara offers a rare opportunity for an owner/user to utilize the space or convert 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
Interior
Heating Other
Fireplace No
Exterior
Garage Spaces 45.0
Private Pool false
Building
Story 2
Foundation Other
Water Public
Schools
School District Santa Clara Unified, Santa Clara Unified
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Altie Schmitt
Partner at Village Associates | License ID: 00924672
Partner at Village Associates License ID: 00924672
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