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.
FACTS / FEATURES
- Lot Size: 20,002 sqft
- View: City Lights, Neighborhood