Open House: Sun, May 19th 1:00 PM - 4:00 PM PDT

Active

1302 Yale Street

Santa Monica CA, 90404

$1,599,000


$1,583.17 per sqft

Active

2 Beds

1 Bath

1,010 sqft

Residential

Built in 1941

Listed by Daniel Galdjie with Cyrus Pacific Realty, Inc. 310-266-2874

Charming home on a large corner lot in prime Santa Monica! This charming single family home offers a thoughtfully designed floor plan, featuring a spacious living room bathed in natural light, a formal dining room that sets the stage for memorable gatherings, and a generous kitchen with stainless steel appliances, ensuring both functionality and comfort. Escape to the enchanting private backyard oasis that provides the perfect backdrop for alfresco dining, leisurely afternoons, and year-round California living at its finest. Located just moments away from LA's vibrant dining, shopping, Farmers Markets, and grocery stores like Erewhon, Whole Foods, Trader Joes, and Bristol Farms, every convenience is at your fingertips. Plus, families will appreciate the proximity to Santa Monica's top-rated schools, ensuring a quality education for young learners. Plus, explore the added opportunity of converting the garage into an Accessory Dwelling Unit (ADU), providing additional living space or rental income. Huge Development/Investment Potential: Build up to a 13-unit apartment/condo building on the site with the application of the State Density Bonus Law and State Multifamily ADU Law. Because this property qualifies for the State Density Bonus Law, a developer could build up to 4 stories (instead of 2) and get significantly reduced setbacks on all sides. Because the property is on a corner with an alley, any development would be open on 3 sides - allowing for great sunlight and unobstructed views. Because the development would be replacing a single family home that is not subject to rent control, the new development would also be exempt from both city and state rent control - a huge and rare advantage in a jurisdiction like Santa Monica. This property has the potential to be a true trophy asset and cash cow in one of the strongest rental markets in the nation.

24381807

MLS ID

April 24, 2024

Listed

May 16, 2024

Updated

Map

1302 Yale Street
Santa Monica CA, 90404

Interior Features

Total Stories

1


Bedrooms

2


Total Bathrooms

1


Full Bathrooms

1


Appliances

Dishwasher, Microwave, Dryer, Washer


Laundry Description

Inside


Floor Description

Wood


Fireplace

Yes


Fireplace Description

None


Cooling

No


Cooling Description

None


Heating

No

Exterior/Building Features

Lot Size

0.14 Acres


Architectual Style

Contemporary

Other Property Details

Area Name

C14 - Santa Monica


Days on Market

21


Garage

No


Parking

Driveway


Parking Total

2


View

Yes


County

Los Angeles


Pool

No


Pool Features

None


Zoning

SMR2*

Listing History

Date

Event

Price

5/15/2024

Price Change

$1,599,000

-18%

Open House Schedule

Sun, May 19th

1:00 PM - 4:00 PM PDT

Listing Contact: 310-266-2874 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/16/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/16/2024 at 1:09 AM UTC

 

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