$ 2,900,000
1115 S Westgate AVE Los Angeles, CA 90049
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$ 2,900,000
Est. payment | /mo
6,899 Sqft Lot
$ 2,900,000
Est. payment | /mo
6,899 Sqft Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24462561
HOA Y/N No
Lot Size 6,899 Sqft
Property Description
"Plans are approved and ready to be pulled. This piece of land creates a rare and tremendous opportunity to develop multi units building in the highly desirable Brentwood neighborhood. This 6,900 SF land with 77 feet frontage on Westgate Ave., has been approved for "by-right" development of a four (4) story, eight (8) units apartment building (To be built to "condo spec") one (1) level of subterranean parking. Permits are ready to be issued (RTI ready). However, recent changes in zoning and/or ordinances (To allow more housing due to housing and affordability housing shortage in Los Angeles), there could be alternative development opportunities this land may be used for, such as 1) After five (5) years of renting the units, the units could be revisited and turned into eight (8) condos with the current parking structure (Buyer is to independently conduct research to verify) OR 2) By making a few adjustments to the plans, the development could be switched to a six (6) condo project, OR New plans could be drawn for seventeen (17) one bedroom apartment building, three (3) of which would have to be allocated for "low income housing" (Buyer is to independently verify). Property is close to UCLA, VA hospital, Westwood Village, shops and restaurants and both the 405 and 10 freeways."
Location
State CA
County Los Angeles
Area C06 - Brentwood
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 4265012065
Special Listing Condition Standard
Listed by Timothy Macker • Timothy C. Macker Jr.