Rare developer opportunity with great back end upside. 5 unit condo development project in prime Santa Monica location. Plans are in the final stage of approval and the foundation has been completed. Begin building the day you close escrow with a huge head start. The approved project is for 5 flat condo units - 2 on the first floor with 1,828 & 1,887 sq ft, and 2 on the second floor with 1,828 & 1,372 sq ft. The penthouse sits alone on the 3rd floor with 2,222 sq ft. All parking is SXS. Units on first and second floors have 2 spots each and the penthouse has 3 spots. To give you an idea of the back end upside potential, the recent project at 1253 17th street sold out quickly at full list prices (over $680 per square foot). It could take years for you to bring a project to this stage in Santa Monica if you were starting from scratch. See prvt remarks.