111 W Branch Street

Description

These two properties can be developed into residential properties under the Workforce Housing Subdivision ordinance which allows for high-density, individually owned properties. Both parcels are zoned commercial, which can alternatively be developed as mixed-use (commercial and residential).Part of the value of these two properties for residential is their proximity to one of the most popular restaurants on the central coast, Jockos Steakhouse. The smaller of the two properties is L-shaped and has entrances on Tefft St and Mallagh St. The larger property is directly across the street from the residential single-family homes. Both properties have frontages on Tefft St, Mallagh St, Branch St, and Burton St. Both properties are flat and are within the urban reserve line. The two parcels can be purchased together for $1,123,844; they also can be purchased individually. The smaller lot can be purchased for $409,900. The larger lot can be purchased for $713,944.