64 Laurel Street, San Carlos, California 94070, San Carlos, 94070 - bed, bath
ACTIVE$5,500,000
64 Laurel Street, San Carlos, California 94070
0Bed
0Bath
3,944Sqft
8,088Lot
Year Built
1953
Close
-
List price
$5.5M
Original List price
$5.5M
Price/Sqft
$1,395
HOA
-
Days on market
-
Sold On
-
MLS number
ML82020216
Home ConditionTear down
Features
Good View: Bridge(s)
Deck
ViewBridge(s)
About this home
We found 3 Cons,5 Pros.
Property is zoned MD-100, there are preliminary plans as reviewed by the city of San Carlos for 15 upscale condos(some with bay views). Zoning allows 14-19 units and a total of approximately 24,265 square feet of total project size. Lot is a gently up sloped 8088 square feet. Currently being used as a 5 unit rental property...providing good income during the city permitting process. The property is subject to AB 2097 which mandates that the city will not impose any minimum parking requirements. (Buyer to verify all information to their satisfaction.)
Nearby schools
8/10
Cipriani Elementary School
Public,•K-5•2.2mi
7/10
Redwood Shores Elementary School
Public,•K-5•2.5mi
8/10
Sandpiper Elementary School
Public,•K-6•2.5mi
8/10
Fox Elementary School
Public,•K-5•3.0mi
7/10
Nesbit Elementary School
Public,•K-8•1.0mi
9/10
Ralston Intermediate School
Public,•6-8•2.4mi
9/10
Carlmont High School
Public,•9-12•1.2mi
6/10
Sequoia High School
Public,•9-12•2.4mi
Price History
Date
Event
Price
09/04/25
Listing
$5,500,000
Condition Rating
Tear down
The property was built in 1953, making it over 70 years old. The listing description explicitly focuses on the property's zoning for 15 upscale condos and its potential for redevelopment, stating it's currently a 5-unit rental providing income 'during the city permitting process.' This strongly indicates that the value is primarily in the land and its redevelopment potential, rather than the existing structure. There are no interior images or descriptions of any recent renovations to the current units, which further supports the assessment that the existing structure is likely considered a tear-down for the proposed project, aligning with the criteria for a 'tear-down' property where value is based solely on the land.
Pros & Cons
Pros
High-Density Development Potential: Zoned MD-100 with preliminary plans for 15 upscale condos, allowing 14-19 units and a substantial 24,265 sqft project size, maximizing land use.
Immediate Income Stream: Currently operating as a 5-unit rental property, providing consistent income to offset holding costs during the development and permitting phases.
Reduced Development Constraints: Benefits from AB 2097, eliminating minimum parking requirements, which significantly lowers construction costs and increases design flexibility for the future condo project.
Prime Bay Area Location with Views: Situated in desirable San Carlos on a gently up-sloped lot, offering potential for valuable bay and bridge views from future condo units.
Access to Top-Rated Schools: Located within a district served by highly-rated public schools, enhancing the marketability and long-term value of the future residential units.
Cons
Significant Capital Requirement: The $5.5 million list price, coupled with substantial development costs, necessitates a considerable financial investment.
Permitting and Development Timeline: Despite preliminary plans, the full permitting process and construction will involve inherent risks, potential delays, and a lengthy timeline.
Buyer Due Diligence Required: The listing explicitly states 'Buyer to verify all information,' indicating that the buyer bears full responsibility for confirming development feasibility, costs, and regulatory compliance.