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Listed by Joshua Johnson • Marcus & Millichap
$ 8,650,000
Est. payment | /mo
0.28 Acres Lot
$ 8,650,000
Est. payment | /mo
0.28 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Residential Development Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82017280
Lot Size 0.278 Acres
Property Sub-Type Residential Development Land
Property Description
70 Encina Avenue represents the rare opportunity to obtain a fully approved and entitled development site in the heart of thriving Silicon Valley. Situated on a 0.278-acre site within the highly sought after city of Palo Alto, the subject offers the opportunity to develop an attached residential housing project in an unrivaled location. The property is adjacent to Town & Country Village, across the street from Stanford University, and a short distance from top high-tech employers, a vibrant downtown shopping district, and numerous recreation opportunities. The subject is approved for redevelopment with 10 townhouse-style residential condominiums contained in a three-story structure with at-grade parking. Floor plans include two-bedroom and three-bedroom residences. Eight of the units will be offered at market rate, with two units designated for below market rate buyers. The project is designed with private garages and direct access to all units, making it highly attractive to prospective homeowners.
Location
State CA
County Santa Clara
Area Stanford
Zoning CC
Exterior
Fence Chain Link, Complete Perimeter
Utilities Available Available - Not On Site, Public Utilities
Present Use Vacant
Building
Lot Description Grade - Level
Sewer Sewer - Public
Water Public
Others
Tax ID 120-34-006
Horse Property No
Special Listing Condition Not Applicable
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Suzanne Hunter
REALTOR® | Lic# DRE 01505241