1212 S WESTMORELAND Avenue, Los Angeles, CA 90006
Property · 2 recorded sales since 2016
Sold September 2020
Listing Agent: Daniel Hirth (DRE #01515796) · Listing Office: Keller Williams-Santa Monica · Contact: 310-482-2200 · Bought with: Daniel Hirth · Keller Williams-Santa Monica · MLS #19507676 · Source: CRMLS
About this property
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!
Listing description from the September 2020 sale, as reported to CRMLS.
Sale history
