8620 Olin Street, Los Angeles, CA 90034

About this property

Approved project for 5 new small lot SFRs. Potential $7mm+ in finished value once built. Delivered RTI, start construction right away. Olin 5 represents a rare opportunity to build new, high-end for-sale housing in a submarket that rarely sees this type of product built due to land supply being so constrained. Thus, when a project does become available, it sells quickly and for a premium, as evidenced by the Row 8/Cattaraugus project (just south of the subject site) which sold out within weeks for homes mostly in the $700/ft range. This project is located just adjacent (south of the 10 freeway) to the prime area of the Culver City’s Arts District which not only has an abundance of retail options, but is fastly becoming an entertainment hub that rival Hollywood’s Media District. Apple’s original content division is in ramp-up mode and taking 128,000 sf at the old Surfas Culinary District site, Amazon Studios is leasing 75,000 sf at Culver & Washington, and Culver Studios is undertaking a 413,000 sf expansion. This area has become an extension of Silicon Beach, as ±1.5 MM sf of creative office/commercial is planned or under construction. Recently Announced: Both Amazon & Apple are leasing 2nd buildings for their operations in the area.

Listing description from the August 2019 sale, as reported to CRMLS.

Sale history

$2,150,000

Sold August 2019 · listed $2,400,000, orig. $3,400,000, on market March 2019 · MLS #OC19048329 · Source: CRMLS

Listing Agent: Bryant Brislin · Listing Office: The Hoffman Company · Contact: 949-553-2020 · Bought with: Shawn S. Kormondy · Keller Williams Beverly Hills

$1,108,100

Sold September 2017 · listed $1,100,000, on market August 2017 · MLS #17259290 · Source: CRMLS

Listing Agent: Dan May · Listing Office: Keller Williams-Santa Monica · Contact: 310-482-2200 · Bought with: Will Tiao · Tiao Properties, Inc.

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