Commercial For Sale | Land | Multifamily
10939 Ohio Avenue . Westwood , CA 90024
A rare trophy development opportunity in one of the most coveted rental markets of the Los Angeles, CA MSA - Westwood. For more information please contact the listing agent, Josh Hill 818-212-2687 Josh.Hill@marcusmillichap.com
Posted: 12/30/2019 3:01 pm
| On HOMEiZ: 1588 days |
Updated: 4 years ago
| Views: 841
Location Map
Property Type
Sold
Property Price
$3800000
12/26/2019
0.755%
Property Location & Description
A rare trophy development opportunity in one of the most coveted rental markets of the Los Angeles, CA MSA - Westwood. For more information please contact the listing agent, Josh Hill 818-212-2687 Josh.Hill@marcusmillichap.com
The approximately 7,265 SF redevelopment site is zoned [Q]R4-1L and falls under TOC Tier 3 eligibility, allowing for a savvy developer to build 18 units by right and up to 33 units with the density bonus. The asset is currently comprised of an 8-unit apartment building built in 1948, which allows a buyer cash flow while they go through the entitlement process.
Located on the Westside of Los Angeles, Westwood is one of the most sought out places to live. Nearby neighborhoods include Holmby Hills, Wilshire Corridor, Bel Air, Brentwood, Beverly Hills, West Hollywood, & Santa Monica. The property is considered a Walker’s Paradise with a Walk Score of 92/100 (meaning all errands can be done without a car) and is conveniently located right by the 405 Fwy.
Irrigation is available
Electricity/Power is available
Water is available
Telephone is available
Cable is available
Gas/Propane is available
4324038002
R4
No
No
Build 18 Units By-Right
Build 33 Units w/ Density Bonus
Rare Westwood Location
Lot Details
Details #1
$4100000
Total Price
0.17
Acres
Contact Listing Agent%
Sewer
Sewer System (Public)
Neighborhood lifestyle
Urban Pioneer
More information
Listing Presented by
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