2020 Virginia Ave - Shovel-Ready, 19 Townhome Mkt Rate Project 0.67 Acres of Residential Land Offered at $6,950,000 in Santa Monica, CA 90404

Kidder Mathews is the exclusive agent to market a shovel ready 19 Townhome style units, with no affordable units. 100% market-rate condominium project, with a tract map with the potential to sell off the whole project or individual townhome. On the other hand, a Developer could lease up the units and stabilize the asset upon its completion. Seller will entertain creative options such as Seller Financing or acquiring a unit or two upon its completion to make the overall economics more enticing and favorable to a Developer. The site is almost 29,000 square feet and features a rear alley, enhancing the project's ingress/egress to the one level subterranean parking.

16 of the townhomes have roof decks and the other 3 townhomes feature additional mezzanine space. All permit fees have been paid by seller and developer could break ground immediately upon the close of escrow. Each townhome offers spacious two-bedroom, two-and-a-half-bath townhomes and each with private subterranean garages. Additionally, there is a lot of open space to this project featuring a unique common area courtyard, which differentiates itself from other projects in Santa Monica.