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Multifamily

3-Unit Mulitfamily | Los Altos, CA

527-531 Lassen St, Los Altos, CA 94022

Listing Price: Request For Offer

Number of Units
3
Gross SF
3,293

Investment Overview

SILICON VALLEY RESIDENTIAL DEVELOPMENT SITE
Marcus & Millichap is pleased to present 527-529 Lassen Street, a 0.33- acre site with potential to be redeveloped with additional housing units. The site currently includes a low-density tri-plex, each with
garages. The City of Los Altos recently passed their updated Housing Element showing a need for the development of additional housing units. This particular site is currently zoned R3-1.8 and the general
plan designation is Medium Density Multi-Family with an approximate density of 38/du/acre. Property tours by appointment ONLY. Do not disturb management or tenants. Property being sold
AS IS.

EXCELLENT ACCESS TO AMENITIES
The subject property is just steps away from Downtown Los Altos making it close to retail, dining, and entertainment. Additionally Whole Foods, Safeway, Walmart, Target, Trader Joe’s, and CVS are all
nearby, as well as dozens of casual dining and fast-food restaurants. Downtown Los Altos is known as a pedestrian friendly retail district with a mix of high-end retailers and local boutiques. The property is
one block from San Antonio Road and Foothill Expressway, making it convenient for commuters who use public transportation and private transportation.

MAJOR EMPLOYERS
527-529 Lassen Street is a short commute to employment centers in Palo Alto and Mountain View. Major employers in the immediate area include Alphabet (Google), Intuit, Microsoft, Tesla, HP Inc., Varian
Medical Systems, LinkedIn, Samsung, Nokia, VMWare, Synopsis, and Stanford University. Silicon Valley continues to be a hub for innovation and captures more than 40% of all venture capital funding for the
nation. The region is expected to maintain its dominant position in the formation of new technology companies and creation of tech-related jobs.

EXCEPTIONAL DEMOGRAPHIC PROFILE
The site is located in Los Altos, one of the most affluent communities in the state of California. Los Altos had an estimated median household income of $225,971 in 2022, more than three times the national median household income of $70,784. The city has a highly educated workforce, with more than 83% of the population over the age of 25 having a Bachelor’s or graduate degree. Over the past 20 years, the population in Los Altos has grown by 8.5%. Growth has been constrained by the lack of sites available for development.

Investment Highlights

  • 0.33-Acre Site with Potential to be Redeveloped with Additional Housing Units
  • Site Currently Includes a Low-Density Tri-Plex
  • Zoned for Medium Density Multi-Family with Approximate Density of 38/du/acre
  • Just Steps from Downtown Los Altos - Close to Retail, Dining, and Entertainment
  • Exception Demographics with the Median Household Income More Than Three Times National Average

Exclusively Listed By

Financing By

Multifamily

3-Unit Mulitfamily | Los Altos, CA

Listing Price: Request For Offer

Number of Units
3
Gross SF
3,293

Investment Highlights

  • 0.33-Acre Site with Potential to be Redeveloped with Additional Housing Units
  • Site Currently Includes a Low-Density Tri-Plex
  • Zoned for Medium Density Multi-Family with Approximate Density of 38/du/acre
  • Just Steps from Downtown Los Altos - Close to Retail, Dining, and Entertainment
  • Exception Demographics with the Median Household Income More Than Three Times National Average

Investment Overview

SILICON VALLEY RESIDENTIAL DEVELOPMENT SITE Marcus & Millichap is pleased to present 527-529 Lassen Street, a 0.33- acre site with potential to be redeveloped with additional housing units. The site currently includes a low-density tri-plex, each with garages. The City of Los Altos recently passed their updated Housing Element showing a need for the development of additional housing units. This particular site is currently zoned R3-1.8 and the general plan designation is Medium Density Multi-Family with an approximate density of 38/du/acre. Property tours by appointment ONLY. Do not disturb management or tenants. Property being sold AS IS. EXCELLENT ACCESS TO AMENITIES The subject property is just steps away from Downtown Los Altos making it close to retail, dining, and entertainment. Additionally Whole Foods, Safeway, Walmart, Target, Trader Joe’s, and CVS are all nearby, as well as dozens of casual dining and fast-food restaurants. Downtown Los Altos is known as a pedestrian friendly retail district with a mix of high-end retailers and local boutiques. The property is one block from San Antonio Road and Foothill Expressway, making it convenient for commuters who use public transportation and private transportation. MAJOR EMPLOYERS 527-529 Lassen Street is a short commute to employment centers in Palo Alto and Mountain View. Major employers in the immediate area include Alphabet (Google), Intuit, Microsoft, Tesla, HP Inc., Varian Medical Systems, LinkedIn, Samsung, Nokia, VMWare, Synopsis, and Stanford University. Silicon Valley continues to be a hub for innovation and captures more than 40% of all venture capital funding for the nation. The region is expected to maintain its dominant position in the formation of new technology companies and creation of tech-related jobs. EXCEPTIONAL DEMOGRAPHIC PROFILE The site is located in Los Altos, one of the most affluent communities in the state of California. Los Altos had an estimated median household income of $225,971 in 2022, more than three times the national median household income of $70,784. The city has a highly educated workforce, with more than 83% of the population over the age of 25 having a Bachelor’s or graduate degree. Over the past 20 years, the population in Los Altos has grown by 8.5%. Growth has been constrained by the lack of sites available for development.

Exclusively Listed By

Financing By

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