436 Laurel St, San Carlos

Summary: Multi-use development on the north side of Laurel St. in a classic mixed use neighborhood surrounded by multiple zoning districts. The objective was to create a more nuanced residential look while maximizing the allowed density.  This timeless Mediterranean development provides the look and feel of a residential development with the density allowed for multifamily.  All of this was developed on a substandard parcel.

Project Details:

  • Parcel Size: 6,969 Sq. Ft.
  • Zoning RM-59: Multi-Family, Medium Density
  • Parcel contained one single family home.
  • Parcel was sold with approved plans for a five unit townhome.

Services Performed by Stafford Realty:

  • SRI was the applicant, developer, and broker of record on behalf of private owner.
  • Initial due diligence to develop project design and determine feasibility.
  • Conducted all Neighborhood Outreach, which was coordinated well in advance of the pre-application process and continued through the demolition of the existing structure and the sale of the project.
  • Represented Owner at all City/ County Staff meetings and Public Hearings
  • Worked with Governmental agencies to complete both the tentative map and final map as required for the development.
  • Finalized Due Diligence/ Pro-Forma Analysis and Determined the ROI desired could be best achieved by selling the Project.
  •  Acted as Broker for the sale of this project to a developer.

The sale of this development shattered the existing record and established a new high for the value per door!