A high-rise development site is located near downtown San Rafael, just a block or two from the San Rafael Transit Center.
The property is zoned C4N 40-50, allowing commercial or residential uses. This zoning allows for a 50-foot height. This property lends itself to luxury apartments, low-income housing, workforce housing, or a senior community.
The property is currently improved with a four-plus-unit building, which brings in $8,106/month. This will provide a nice cash flow while you develop it.
According to San Rafael Planning, this property can be improved with a four to five-story building for commercial or residential use. There is only a seven-foot front and side street setback, a five-foot side, and a 15’ rear setback, with a maximum building length of 75’.
A lot size of approximately 50’ x 100’ could equate to 2,850 per floor on the first three levels. As you go up in height, there may be some step-back requirements limiting the size of the upper two levels to approximately 1,540sf each.
Given its proximity to public transportation, parking requirements are less than in other zoning districts. 2BR units require one space, studio and 1BR requires .75 spaces. There should be enough room on the ground floor and exterior to accommodate ten parking spaces. This would allow for a 12-unit building of four luxury 2BR apartments plus eight 1BR apartments.
If used for low-income housing, you may have greater leeway in allowance. Buyer to confirm with the City of San Rafael on all the above.
Call for a complete list of the San Rafael zoning requirements.