Brick+Work

Santa Monica NC Property, 54 Potential Units with Density Bonus

Santa Monica

Santa Monica NC Property, 54 Potential Units with Density Bonus

APN: 4283-030-014; 4283-030-015

$

$
54
Max Unit
15,000 sq. ft.
Lot Size
N/A
TOC
2
Lots
Existing Conditions
Floor Area 8,448 sq. ft. (combined)
Units 0
Year Constructed 1977
Assessed Improvement Value $398,343
Assessed Land Value $1,593,439
Development Potential (By-Right)
Maximum FAR 1.25:1
Maximum Height
Feet

32 ft.

Minimum ground floor height of 11 ft.

Stories

2

Minimum Setbacks
Front

0 ft.

5 ft. average upper story stepbacks for street-facing facades

Side

0 ft.

Back

0 ft.

rear setback shall be measured from the center line of the alley

Max Buildable Area, Footprint 15,000 sq. ft.
Max Buildable Area, Envelope 18,750 sq. ft.
Max Dwelling Units 40
Affordable Units Required None
Parking Required 1 space per studio; 1.5 spaces per 1 BR; 2 spaces per unit with 2 BR or more; Guest- 1 space per 5 guest rooms
Required Bicycle Parking
Long Term 1 space per bedroom, including studios
Short Term 10% of Long Term spaces, minimum 2
Transitional Height Limitations Buildings shall not extend above a plane starting at 25 feet in height directly above the parcel line abutting any residentially-zoned parcel, or where there is an alley, the centerline of the alley, and from that point, extending in at a 45-degree angle from vertical toward the interior of the site.
Required Open Space 60 sq. ft. private open space per unit 100 sq. ft. total open space per unit (common + private)
Other Development Notes Per Santa Monica Municipal Code, a dwelling unit shall exceed 375 square feet in size.
Development Potential (with TOC or DB)
Maximum FAR 1.25:1 (Eligible for increase through bonus incentives)
Maximum Height
Feet

32 ft.

Eligible for increase through bonus incentives; Minimum ground floor height of 11 ft.

Stories

2

Eligible for increase through bonus incentives

Minimum Setbacks
Front

0 ft.

5 ft. average upper story stepbacks for street-facing facades

Side

0 ft.

Back

0 ft.

rear setback shall be measured from the center line of the alley

Max Buildable Area, Footprint 15,000 sq. ft.
Max Buildable Area, Envelope 18,750 sq. ft.
Max Dwelling Units 54
Affordable Units Required at least 11% for Very Low Income, 20% for Low Income, or 40% for Moderate Income (for sale only)
Parking Required Market Rate Units: 1 space per studio; 1.5 spaces per 1 BR; 2 spaces per unit with 2 BR or more; 1 space per 5 guest rooms; Affordable Units: .5 space per studio; .75 spaces per 1 BR; 1 spaces per unit with 2 BR or more
Required Bicycle Parking
Long Term 1 space/bedroom, including studios
Short Term 10% of Long Term spaces, minimum 2
Transitional Height Limitations Buildings shall not extend above a plane starting at 25 feet in height directly above the parcel line abutting any residentially-zoned parcel, or where there is an alley, the centerline of the alley, and from that point, extending in at a 45-degree angle from vertical toward the interior of the site.
Required Open Space Eligible for decrease through bonus incentives
Other Development Notes Calculations are based on Affordable Housing incentives from the "State (of CA) Density Bonus Law" Site can also choose to utilize Santa Monica's Affordable Housing Production Program incentives Per Santa Monica Municipal Code, a dwelling unit shall exceed 375 square feet in size.
Jurisdictional
Legal Description LOTS 269-270, TOWNER TERRACE
Land Use Neighborhood Commercial
Area Planning Commission N/A
Community Plan Area N/A
Neighborhood Council N/A
Council District N/A
Councilmember N/A
Red Flags
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Particulars By-Right TOC or DB
Total Buildable
Net Buildable
Average Construction Cost
Total Construction Budget
Total Soft Costs
Total Development Budget
Gross Annual Rents
Expenses (25%)
NOI
Valuation
Equity After Completion
Equity Multiple
IRR

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