The property sits in the heart of Downtown South San Francisco within the Downtown Station Area Specific Plan, roughly a quarter mile from the South San Francisco Caltrain station. The property is entitled for 99 residential units plus 1,500 square feet of ground-floor retail. Additional density may be achievable under Californias State Density Bonus Law, with potential yield up to approximately 180 to 210 units, subject to further entitlement investigation. Development Highlights: • Address: 421 Cypress Avenue, 209 & 213 Lux Avenue, South San Francisco, CA 94080 • APNs: 012-314-090, 012-314-080, 012-314-070 • Lot size: 25,395 SF / 0.584 acres • Zoning: Downtown Transit Core (DTC) • Entitled gross building area: 142,252 SF (FAR 4.70) • Entitled height: 85 feet / 7 stories • Entitled units: 99 (net rentable 93,940 SF) • Below market rate units: 15 of 99 • Retail: 1,500 SF ground floor • Parking: 99 stalls total • Density bonus potential: up to 180-210 units under a stacked state density bonus; • 165-185 units is the recommended planning target • Entitlement (P21-0009) approved 12/15/2022, extended under AB2729 to June 15, 2027 • Tenants are month-to-month, with one lease expiring in under 12 months • Current gross income = $11,950/month