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    1212 S Westmoreland Ave

    Los Angeles, CA 90006
    • $3,100,000
    • STATUS: Active
    • ON SITE: 343 days
    • ID#: 19-507676
    UPDATED: 60 min ago
    $3,100,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:
    Area:

    School Ratings & Info

    Description

    1212 S. Westmoreland Avenue, a unique entitled 38-unit multifamily development opportunity. The property is comprised of approximately 11,750 SF lot area zoned R4-1XL. With rear alley access, current zoning and entitled plans, a developer can build up to 38 units. If a developer plans to utilize the TOC Tier 2 incentives, one can resubmit plans and potentially build up to 48 units. With tenants already evicted and the building demolished, this ideal development opportunity reduces costs and allows a developer to begin construction immediately! 1212 S. Westmoreland Avenue allows an investor to take advantage of the currently entitled plans to develop 38 units totaling 17,182 SF of building! The unit mix would consist of thirty-four (34) studios, two (2) one bed one bath, and two (2) two beds one bath units built within four stories with alley access which is favorable for subterranean parking in terms of ingress and egress. The property is also in the opportunity zone!

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-08-14T23:42:30.887. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.lydiagable.com/homes/98707828
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    1212 S Westmoreland Ave Los Angeles, CA 90006

    • Price: $3,100,000
    • Status: Active
    • Updated: 60 min ago
    • ID#: 19-507676
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    Mid-Wilshire
    Property Description
    1212 S. Westmoreland Avenue, a unique entitled 38-unit multifamily development opportunity. The property is comprised of approximately 11,750 SF lot area zoned R4-1XL. With rear alley access, current zoning and entitled plans, a developer can build up to 38 units. If a developer plans to utilize the TOC Tier 2 incentives, one can resubmit plans and potentially build up to 48 units. With tenants already evicted and the building demolished, this ideal development opportunity reduces costs and allows a developer to begin construction immediately! 1212 S. Westmoreland Avenue allows an investor to take advantage of the currently entitled plans to develop 38 units totaling 17,182 SF of building! The unit mix would consist of thirty-four (34) studios, two (2) one bed one bath, and two (2) two beds one bath units built within four stories with alley access which is favorable for subterranean parking in terms of ingress and egress. The property is also in the opportunity zone!
    Exterior Features

    Lot Size Area 11739 View Description None View YN No

    Property Features

    Cable YN No Hoa Fee1 0.00 Sale Type Standard Source Lot Size Area Vendor Enhanced Zoning Lar4

    Listing provided courtesy of Daniel Hirth DRE#01515796 of Keller Williams-Santa Monica.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-08-14T23:42:30.887. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377