Investment Overview

Marcus & Millichap is pleased to present 1432 17th Street, a prime ±7,500 SF parcel located in the heart of Santa Monica, CA. The property is fully entitled for a six-unit, townhouse-style multi-family residential condominium development, designed with a contemporary aesthetic and private rooftop decks for each unit. The proposed project will comprise five market-rate units and one designated affordable unit, reserved for a lower-income household in accordance with the City of Santa Monica’s inclusionary housing program. Each unit is thoughtfully designed as a 2-bedroom + loft layout, with floor plans ranging from 1,310 to 1,394 SF. The total residential floor area is approximately 8,207 SF. A semi-subterranean parking garage will provide 12 parking spaces, inclusive of compact, handicapped, and guest parking, as well as bicycle storage (12 long-term and 2 short-term spaces). The development will also deliver over 2,260 SF of landscaped open space, exceeding the City’s 30% requirement, and private roof decks totaling 1,138 SF. The existing one-story, single-family home on the parcel—constructed in 1959 and not listed on the City of Santa Monica’s Historic Resources Inventory—will be demolished to make way for this new project. Project #20BLD-4380 is currently in building plan check with the City of Santa Monica. The project was entitled and approved by City of Santa Monica Planning as a new two-story condominium building with mezzanine, rooftop, and semi-subterranean parking garage for six residential units.