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Listed by Dominic Morbidelli Maven Commercial, Inc.
$ 9,000,000
Est. payment /mo
New
421 Cypress AVE South San Francisco, CA 94066
8,941 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 8,941 sqft
Price per Sqft $1,006
MLS Listing ID 426174145
HOA Y/N No
Year Built 1947
Lot Size 0.262 Acres
Acres 0.2615
Property Sub-Type Mixed Use
Property Description
Rare entitled development site in the heart of Downtown South San Francisco. 421 Cypress Avenue and 209 & 213 Lux Avenue form a three-parcel assemblage of approx. 0.584 acres. The site is zoned Downtown Transit Core (DTC) within the Downtown Station Area Specific Plan, roughly a quarter mile from the South San Francisco Caltrain station. The site is entitled for a 7-story, 85-foot mixed-use building. The approved project has 99 residential units, approx. 142,252 SF gross building area (FAR 4.70), 93,940 SF net rentable, 1,500 SF of ground-floor retail and 99 parking stalls. The unit mix is 6 studios, 12 one-bedrooms, 56 one-bedroom + dens, 9 two-bedrooms and 16 two-bedroom + dens, with 15 units designated below market rate. Significant upside: a stacked bonus under California's State Density Bonus Law could potentially yield approx. 180-210 units, with 165-185 units suggested as a practical planning target. Buyer to independently verify eligibility and feasibility. The site is currently improved with five occupied apartments (1 studio, 4 one-bedroom), a leased parking lot and a vacant 8,941 SF restaurant building at 421 Cypress. Four apartments are month-to-month and one is leased through 8/19/2027. Excellent regional access: approx. 7 minutes to SFO, 8 minutes to BART and 20 minutes to San Francisco's Financial District, with quick access to Hwy 101, I-280 and the Peninsula/Silicon Valley employment base. Do not disturb tenants; contact listing agent for access. Buyer to verify all information, including entitlements, square footage and occupancy.
Location
State CA
County San Mateo
Area South San Francisco
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 012314090
