Active

8911 Ramsgate Avenue

Los Angeles CA, 90045

$2,350,000


$694.86 per sqft

Active

8 Beds

4 Baths

3,382 sqft

Multi-family

Built in 1949

Listed by Benjamin Hsiang with Realty Investment Advisors, Inc. 424-377-6001

Presenting a rare opportunity for a developer to acquire a development deal in the highly sought-after Westchester neighborhood. This property is located at 8911-8917 Ramsgate Ave and has received a Letter of Determination for 30 buildable units. There are two vacant duplexes consisting of all two bedroom one bath units on the property. This location is strategically situated just minutes from the world-renowned LAX airport, surrounded by major employers such as Google, Northrop Grumman, and Boeing, making it an ideal location for those seeking employment opportunities. The area also offers easy access to SoFi Stadium, home to the Los Angeles Rams and Chargers, which has become a major entertainment destination that hosts a variety of events throughout the year. A few miles west is Playa Del Rey, a vibrant beach town offering a relaxed atmosphere, access to the beach, and a variety of local shops and restaurants. Loyola Marymount University, one of the top private universities in the region, is also less than three miles away, adding a strong educational element to the area. Additionally, located just southwest of Westchester, El Segundo is a booming city home to the headquarters of several major corporations, including Mattel, Raytheon, and SpaceX. The average household income within two miles of this property assemblage exceeds $100,000, reflecting the tremendous economic strength of the area. In 2022, Google leased nearly 53,000 square feet of space in Playa Vista, indicating the strong potential for growth and development in the area. This unique investment opportunity is not to be missed by developers and institutions looking to quickly expand their ground-up portfolio and capitalize on the unlimited potential of this central area. With the acute housing shortage in Los Angeles, this opportunity also presents a chance to create high-quality housing options for one of the highest rental demand markets in California.

23260147

MLS ID

April 17, 2023

Listed

November 4, 2023

Updated

Map

8911 Ramsgate Avenue
Los Angeles CA, 90045

Interior Features

Total Stories

2


Bedrooms

8 Beds


Bathrooms

4 Baths


Fireplace

No


Cooling

Yes


Cooling Description

None


Heating

Yes


Heating Description

None

Exterior/Building Features

Lot Size

0.32 acres

Other Property Details

Days on Market

201


Garage

No


Parking

No


Parking Total

8


View

No


County

Los Angeles


Pool

No

Listing History

Date

Event

Price

11/4/2023

Price Change

$2,350,000

-6%

10/25/2023

Active

8/8/2023

Under Contract

5/21/2023

Price Change

$2,500,000

-11%

Listing Contact: 424-377-6001 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/4/2023. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 11/4/2023 at 7:16 PM UTC

 

Powered byLuxury Presence