MAJOR PRICE REDUCTION! We are pleased to present one of the most unique lot assemblages available in the LA market: Four consecutive single-family homes with alley access, all delivered vacant, no rent control or Ellis Act, and located in the booming tech hub of Silicon Beach. Located in Culver City, the property falls under Los Angeles Department of Building and Safety offering the developer a drastically streamlined planning and building timeframe compared to the Culver City building process.
This assemblage will allow the savvy developer to build 42 luxury units utilizing a density bonus, or 28 units without bonus. The seller has built a new construction four-unit next door, having leased the four bedroom unit at $5,545, the three bedroom units at $4,646, and the two bedroom unit at $4,300. These rents prove the high demand for a quality rental in red hot Culver City.
Another lucrative development option would be to utilize the Small Lot Subdivision approach to build 12 single family residences, ranging from 2,190-2,555 sf each with values of $1.8M - $2.2M per home.
In addition to the four lots there is on market a fifth lot for sale by a third party, located at 4418 S Slauson. Acquiring this lot would bring the total SF to 25,506.
The location of this assemblage hits many high points: Located west of the 405, it is two miles south of Downtown Culver City, Culver City Steps, And Ivy Station which houses Amazon Studios, Sony Pictures, and HBO, to name a few. Moving southwest one mile from the assemblage is Play Vista and Del Rey. Close proximity to LAX, freeways, and the ocean further strengthen the location. You couldn’t find a property better situated in the mix of Silicon Beach and surrounding attractions.
After years spent negotiating and acquiring the parcels the owner is now eager to sell at pricing dictated by the market. Please feel free to contact with any questions regarding this offering.
Listed by Citivest Realty Services, Inc, Seth Hamilton,
Based on information from California Regional Multiple Listing Service, Inc. as of 1/31/23. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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Data last updated 9:01 AM UTC, 1/31/23