7280 Marylinn Drive, MILPITAS, CA 95035 (MLS # ML81927870)
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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.
| LAST UPDATED | 9/5/2024 | YEAR BUILT | 0 |
|---|---|---|---|
| COUNTY | Santa Clara | STATUS | Active |
| PROPERTY TYPE(S) | Lot/Land/Acreage |
| Elementary School | Anthony Spangler Elementary |
|---|---|
| Jr. High School | Thomas Russell Junior High |
| High School | Milpitas High |
| PRICE HISTORY | |
| Prior to Jun 22, '23 | $2,879,900 |
|---|---|
| Jun 22, '23 - Dec 19, '23 | $2,780,000 |
| Dec 19, '23 - Apr 30, '24 | $2,499,938 |
| Apr 30, '24 - Jul 1, '24 | $2,180,000 |
| Jul 1, '24 - Sep 5, '24 | $1,880,000 |
| Sep 5, '24 - Today | $1,680,000 |
| ADDITIONAL DETAILS | |
| LOT | 0.3468 acre(s) |
|---|---|
| LOT DESCRIPTION | Level |
| LOT DIMENSIONS | 15107.00 |
| SEWER | Public Sewer |
| WATER | Public |
| ZONING | R3B MIXED USE |
TOTAL MONTHLY PAYMENT
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