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1543-1557 7th street
Santa Monica, CA 90401
7th & Colorado - 0.5-Acre MF Development Land · Land For Sale
·
0.51 AC
Executive Summary
Newmark, as exclusive advisor, is pleased to
present the opportunity to acquire the 100%
fee-simple interest in 7th & Colorado (“the
Property”), located in Santa Monica, California.
A truly generational asset, 7th & Colorado is
an exceedingly rare opportunity to acquire
a world class multi-family development
site in an irreplaceable coastal location.
Additionally, re-development of 7th &
Colorado is achieved through ministerial
and non-discretionary application process which allows for a base density of 113 units up to 226 units with a density bonus.
The Property consists of 0.51 acres in the
prime Downtown Santa Monica submarket,
one of Southern California’s strongest and
most desirable multifamily markets.
7th & Colorado benefi ts greatly from being
just blocks from the ocean and it’s proximity
to some of Los Angeles’ most exclusive
residential neighborhoods, as well as
immediate transportation access via the
Santa Monica (10) Freeway, major surface
thoroughfares, and the MTA Expo Line light rail
station at 4th & Colorado.
present the opportunity to acquire the 100%
fee-simple interest in 7th & Colorado (“the
Property”), located in Santa Monica, California.
A truly generational asset, 7th & Colorado is
an exceedingly rare opportunity to acquire
a world class multi-family development
site in an irreplaceable coastal location.
Additionally, re-development of 7th &
Colorado is achieved through ministerial
and non-discretionary application process which allows for a base density of 113 units up to 226 units with a density bonus.
The Property consists of 0.51 acres in the
prime Downtown Santa Monica submarket,
one of Southern California’s strongest and
most desirable multifamily markets.
7th & Colorado benefi ts greatly from being
just blocks from the ocean and it’s proximity
to some of Los Angeles’ most exclusive
residential neighborhoods, as well as
immediate transportation access via the
Santa Monica (10) Freeway, major surface
thoroughfares, and the MTA Expo Line light rail
station at 4th & Colorado.
Property Facts Under Contract
1 Lot Available
Lot
| Price | $16,497,960 CAD | Lot Size | 0.51 AC |
| Price Per AC | $32,348,941.35 CAD |
| Price | $16,497,960 CAD |
| Price Per AC | $32,348,941.35 CAD |
| Lot Size | 0.51 AC |
The subject property is located at 1543–1559 7th Street in the heart of Downtown Santa Monica. The site consists of contiguous parcels totaling 0.51 acres and is currently improved with a 100% vacant, four-story, 14,612 SF creative office building
Description
Former creative office building - 15k sf - 100% vacant
Property Taxes
| Parcel Numbers | Improvements Assessment | $6,129,428 CAD | |
| Land Assessment | $17,257,671 CAD | Total Assessment | $23,387,099 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$17,257,671 CAD
Improvements Assessment
$6,129,428 CAD
Total Assessment
$23,387,099 CAD
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