REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Natalie Miranda
marketing@thewhipplegroup.com$ 6,900,000
Est. payment | /mo
0.31 Acres Lot
$ 6,900,000
Est. payment | /mo
0.31 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25518641
HOA Y/N No
Lot Size 0.310 Acres
Property Description
We are pleased to offer an exceptional opportunity to acquire a 13,500 Sq.Ft. double lot in a prime Westwood location. The site is located directly adjacent to Veteran Park, north of Santa Monica Blvd. and west of Westwood Blvd. Currently on the site are two existing buildings with a a total of 7 units. All of the units are VACANT as of March 2024 due to the Ellis Act. The zoning allows for multiple development options. The property is zoned QR3 and qualify for Tier 3 of the (TOC) Plan. The site supports an approximately 110-unit ED1 low-income project with a ministerial and streamlined approval process, requiring no parking. Alternatively, it can accommodate a CHIP OC-3 density bonus project, where approximately 70% of the units would be market rate. Additionally, the property had a RTI development for 29-unit. The plans include a six-story residential building spanning approximately 34,000 square feet, featuring a well-balanced unit mix of 6 one-bedroom, 11 two-bedroom, and 12 three-bedroom units, with 5 units designated as deed-restricted affordable housing with one level subterranean and one on grade parking including 44 parking spaces. Incredible opportunity to purchase a development in one of the most desired rental locations in all of Los Angeles in close proximity to UCLA, Brentwood, Century City and Beverly Hills.
Location
State CA
County Los Angeles
Area C05 - Westwood - Century City
Zoning LAR3
Interior
Fireplace No
Exterior
View Y/N No
View None
Building
New Construction No
Others
Senior Community No
Tax ID 4324014072
Special Listing Condition Standard
Listed by David Miller • Miller & Desatnik Realty Co.
GET MORE INFORMATION
Natalie Miranda
Marketing Director | License ID: 02122928