405 Alberto WayLos Gatos, CA 95032

Property Details for 405 Alberto Way

Lot size

2.15 AC

Property type

Other commercial real estate

Property subtype

Retirement homes

Description

This exceptional 2.15-acre development site in Los Gatos, California, presents a unique opportunity to acquire a transformative mixed-use project. Located at 405 Alberto Way, this property is zoned CH and boasts a prime location, just 0.6 miles from North Santa Cruz Avenue and the vibrant downtown area. Currently designed as two 6-story buildings, the project will encompass 78 luxury condo units—65 market-rate and 13 affordable units (120% AMI), achieving a density of 30 units per acre. This aligns perfectly with the Town of Los Gatos' Housing Element Overlay Zone (HEOZ), which encourages higher-density development. Significant progress has already been made on the entitlement process, with numerous revisions to prior plans already completed and vetted by the Town's Public Works and Engineering Department. The streamlined SB 330 submission process is expected to expedite approval, with a projected timeline for project completion by late spring 2025. This represents one of the last remaining large undeveloped parcels in Los Gatos, offering an unparalleled opportunity to capitalize on the area's high demand for housing and its coveted location within a luxury submarket experiencing a significant housing shortage. The median home sales price in this desirable area is $2.64 million, underscoring the exceptional investment potential of this project. The property's APN is 529-23-018. The project's convenient access to downtown Los Gatos and its proximity to numerous amenities further enhance its appeal.

Location Insight

City

Los Gatos

County

Santa Clara

State

California

Latitude

37.2268

Longitude

-121.972

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].