Listing Courtesy Of:
Universal Network Group, 510-375-8986, Jennifer Li
Local Realty Services Provided By:
KW Santa Clara Valley
Overview
What It'll Cost
Neighborhood
Similar Homes
$1,500,000
Marylinn, Milpitas, CA 95035
.35
ac
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$1,500,000
Marylinn, Milpitas, CA 95035
Estimation provided by Keller Williams Realty Inc.
.35
ac
Active
For Sale
Property Description
Subject to city planner approval, the lot is good for 5-9 units but conservatively will likely be subdivided into 4-5 mixed-use units due to clearance limitations, with a frontage of 281.42 ft. Buildable area is one story (4435 SF per old building plan in 90'), now w building floor ratio almost 3x, subject to meeting all requirements for setbacks, parking, open space, and building codes. Current R3B zoning allows for a 3-story, 4+ units, with a maximum of 11,330 SF. Single-family homes have sold for $828/SF, and condos for $667-1,000/SF, with sellers leaving lots of profit on the table. The property offers a mixed-use opportunity for potential buyers, with the option to use the 1st floor as a versatile commercial space adaptable to various needs such as medical clinics, retail stores, showrooms, classrooms, restaurants, offices, OEMs/branches/sales offices. The 2nd and 3rd floors are for residential use, offering the potential to create either a large family home or another 3-4 separate condos, at the buyer's preference. The flexible layout of the building presents multiple opportunities, such as a Michelin Stars restaurant with the 1st and 2nd floors for the restaurant and kitchen, and the 3rd floor for the chef's residence, also with an herb or vegetable garden in one place.
Assessed Value is a combination of the land and additions.
2023
$6,039
(+41.54%)
$316,536
Land 316,536
2021
$4,267
(-1.6%)
$304,246
Land 304,246
2020
$4,336
(-35.84%)
$298,281
Land 298,281
2019
$6,758
(+17.14%)
$295,223
Land 295,223
2018
$5,769
(+74.56%)
$289,435
Land 289,435
2016
$3,305
$278,197
Land 278,197
The Property History data displayed is obtained from public records and/or MLS feeds from the local jurisdiction in which the applicable property is located. As kw.com cannot guarantee that all public records and MLS data is accurate and error-free, it is important that you contact your agent directly in order to obtain the most up-to-date information available.
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