1120 Lincoln Avenue A high-rise development site is located near downtown San Rafael, just a block or two from the San Rafael Transit Center. The property is zoned C4N 40-50, allowing commercial or residential uses. This zoning allows for a 40-foot height, which can be increased to 50 feet with a density bonus. This property lends itself to luxury apartments, low-income housing, workforce housing or a senior community. The property is currently being developed with a four-plus-unit building, which brings in $8, 106/month. This will provide a nice cash flow while you develop it. The property is currently improved. A 1903 Victorian has been converted into four apartments, and additional vacant space on the ground floor that was previously office space has been added. The current tenants are all on month-to-month tenancies. According to San Rafael Planning, this property can be improved with a four to five-story building for commercial or residential use. There is only a five-foot front setback and no side or rear setback. Given its proximity to public transportation, parking is not required; it is only needed to the extent of marketability for new tenants. A lot size of approximately 50' x 100' could equate to 4, 275sf per floor. As you go up in height, there may be some step-back requirements.