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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$3,999,000

Est. payment - /mo

16 Beds

16 Baths

8,840 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,840 sqft

Price per Sqft $452

MLS Listing ID 25591597

Bedrooms 16

HOA Y/N No

Year Built 1953

Lot Size 0.431 Acres

Property Description

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 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.

Location

State CA

County Los Angeles

Area C13 - Palms - Mar Vista

Zoning LAR3

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features Side By Side

Pool None

Total Parking Spaces 16

Private Pool No

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 4252008032

Special Listing Condition Standard

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Listed by D. Timothy Byrne Compass

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11061 Venice BLVD Los Angeles, CA 90034