7100 La Tijera Blvd #C101
Bed 2 Bath 2 Price $575,000View Listing
What a location for this undeveloped parking lot! Right off of Santa Monica’s trendy Main St retail district, this corner lot with 150 ft (per assessor) total of street frontage is waiting for your vision.
Zoned OP2, Santa Monica’s zoning code says you can build up to two residential units on this lot. Having the corner lot is fabulous in this situation, as it allows you to position the two units to make vehicular access easy and maximize buildable square footage that the City will allow you to build. On the other hand, the parcel is already striped for 17 parking spaces so why not lease it out as a parking lot to Main St businesses? Anyone who has dined, shopped, or had meetings on Main St knows parking is tight. Take advantage of that parking demand and supply spaces for a low maintenance, don’t-have-to-deal-with-tenants paycheck each month. There are 27 (!!!) restaurants within two blocks of this lot, plus additional retail and office spaces, creating plentiful vehicular and pedestrian traffic in the area. Whether you are a developer looking to start your next project from scratch, or a residential landlord wanting to 1031 exchange into something with a lot fewer headaches, this undeveloped parking lot off of Santa Monica’s Main St is right for you!