Developer's dream! This 4,700+ square foot property zoned R2 (multi-family) offers a unique opportunity in Santa Monica, with panoramic views and no rent control. Less than one mile from the beach, yet not subject to the Coastal Commission. Create two, three, or up to five units of luxury housing (3 standard units + 2 ADUs). Or if also building one affordable unit, build even more than five luxury units. Make them condominiums if desired. (These scenarios are intended to give an idea of what may be possible and not to be definitive; a brief stop at the City will confirm the possibilities!) Include as much or as little on-site parking as you like, or even no parking at all. Walk to Whole Foods, Gelson's, Starbucks, and dozens of restaurants and coffee shops. Only one block to either of two dedicated bike lanes leading across Santa Monica or to the beach. One block to the Big Blue Bus to downtown Santa Monica or LAX. Get in now, as ever more shops and restaurants come to this rapidly upscaling neighborhood. The existing cottage dates from early in Santa Monica's history. Unlike other properties where rent control can impede development, this property has a permanent exemption from rent control! In Santa Monica, with its top public schools and ocean breezes, the enormous potential of this property is one-of-a-kind.