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355 1st St Los Altos, CA 94022-3605
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Property Description
Fully Entitled & Ready-to-Issue (RTI): Years of entitlement risk, plan checks, and environmental mitigations are cleared. The project will be delivered “Shovel Ready” with the AHA, Final Map, and base monitoring contracts secured.
Premium 50-Unit Scale & Mix: Extremely rare density for this municipality, heavily weighted toward highly desirable, high-value 2- and 3-bedroom floor plans.
Superior Parking Infrastructure: 113 traditional, non-tandem parking spaces featuring EV charging for every unit and dedicated bike parking. Zero mechanical stackers or puzzle lifts, eliminating a major friction point for luxury buyers.
Proven Top-of-Market Exits: Positioned for luxury buyers, supported by highly relevant recent comparable sales exceeding $2,050 / Sq. Ft.
Standout Design & Amenities: Thoughtfully designed 4-story wood-frame over subterranean parking. Features a stunning central atrium for natural light and an expansive, programmed rooftop deck flanked by lush greenery and a private dog park.
Pro forma analysis indicates approximately a 17.1% project-level IRR, supported by strong market fundamentals and limited new condo supply.
Premium 50-Unit Scale & Mix: Extremely rare density for this municipality, heavily weighted toward highly desirable, high-value 2- and 3-bedroom floor plans.
Superior Parking Infrastructure: 113 traditional, non-tandem parking spaces featuring EV charging for every unit and dedicated bike parking. Zero mechanical stackers or puzzle lifts, eliminating a major friction point for luxury buyers.
Proven Top-of-Market Exits: Positioned for luxury buyers, supported by highly relevant recent comparable sales exceeding $2,050 / Sq. Ft.
Standout Design & Amenities: Thoughtfully designed 4-story wood-frame over subterranean parking. Features a stunning central atrium for natural light and an expansive, programmed rooftop deck flanked by lush greenery and a private dog park.
Pro forma analysis indicates approximately a 17.1% project-level IRR, supported by strong market fundamentals and limited new condo supply.
Location
State CA
County Santa Clara
Listed by Alan Canas • Canas Team
NEARBY SCHOOLS & PROPERTIES
Alan Canas
PRIVATE OFFICE ADVISOR & LICENSED PARTNER | Realtor® | License ID: CA DRE #01793936