$ 3,550,000
-
$3,550,000
Price -
1
Bed -
1
Bath -
8,840
SqFt
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About the Listing CLW-X7710801 - CLW-X53195,CLW-C109184
Great value-add or development opportunity in a prime West Los Angeles location. Current rents are approximately 36% below market, offering immediate upside through repositioning. Alternatively, the property serves as a strong interim hold for a covered land play with significant future redevelopment potential. The existing improvements consist of two twin 8-unit apartment buildings (16 units total) built around a landscaped courtyard. Each building contains approximately 4,420 SF (8,840 SF combined), primarily comprised of smaller one-bed/one-bath units averaging 556 SF. The property sits on an oversized 18,783 SF lot with 16 open parking spaces, with room for additional parking spaces or other options. Priced at $213/SF for the land, this Property is zoned [Q] LAR3-1-O, Tier 3. This site allows for density with bonus to support the development of up to 48 units with a 4.5:1 FAR, which would allow approximately 84,500 buildable square feet. A new 6- to 7-story development could be built, with flexibility to allocate additional square footage for ADUs, amenities, or community rooms.
Listing Highlights for 11061 Venice Boulevard
Status
Active
Days on Site
43
Property Type
Multi-Family
MLS ®
25591597
Year Built
1953
Total Square Footage
8,840
Lot/Acreage
0.43
County
Los Angeles
Interior Details
- Bedrooms: 1
- Bathrooms: 1 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 16
- Zoning: LAR3
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Side by Side
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4252008032
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
11061 Venice Boulevard Los Angeles, CA 90034
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