Great value-add or development opportunity in a prime West Los Angeles location. Current rents are approximately 36% below market, offering immediate upside through repositioning. Alternatively, the property serves as a strong interim hold for a covered land play with significant future redevelopment potential. The existing improvements consist of two twin… Read More 8-unit apartment buildings (16 units total) built around a landscaped courtyard. Each building contains approximately 4,420 SF (8,840 SF combined), primarily comprised of smaller one-bed/one-bath units averaging 556 SF. The property sits on an oversized 18,783 SF lot with 16 open parking spaces, with room for additional parking spaces or other options. Priced at $213/SF for the land, this Property is zoned [Q] LAR3-1-O, Tier 3. This site allows for density with bonus to support the development of up to 48 units with a 4.5:1 FAR, which would allow approximately 84,500 buildable square feet. A new 6- to 7-story development could be built, with flexibility to allocate additional square footage for ADUs, amenities, or community rooms. Read Less
Courtesy of Compass 310-820-0195
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
16
Square Ft.
8,840
Lot Size
0.43 Acres
Year Built
1953
MLS Number
25591597
30 Days Snapshot Of 90034
$1.85M
-2%
(avg) sold price
16
+100%
homes sold
56
+12%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Range/Oven
Building
8,840 sq ft, Built in 1953, Levels: Multi/Split
Cooling
None
Disclosures
As Is
Garage
Side By Side
Heating
Wall
Lot
LotAcreage: 0.4312, LotSizeArea: 18,783
Parking
OpenOtherSpacesTotal: 16, TotalParking: 16
Pool
PoolYN: False, None
Property
NumberOfUnits: 16, Zoning: LAR3
Spa
Has spa, None
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