Active
1115 S Westgate Ave
Los Angeles CA, 90049
$2,900,000
$420.29 per sqft
Active
0.16 Acres
Land
"Plans are approved and ready to be pulled. This piece of land creates a rare and tremendous opportunity to develop multi units building in the highly desirable Brentwood neighborhood. This 6,900 SF land with 77 feet frontage on Westgate Ave., has been approved for "by-right" development of a four (4) story, eight (8) units apartment building (To be built to "condo spec") one (1) level of subterranean parking. Permits are ready to be issued (RTI ready). However, recent changes in zoning and/or ordinances (To allow more housing due to housing and affordability housing shortage in Los Angeles), there could be alternative development opportunities this land may be used for, such as 1) After five (5) years of renting the units, the units could be revisited and turned into eight (8) condos with the current parking structure (Buyer is to independently conduct research to verify) OR 2) By making a few adjustments to the plans, the development could be switched to a six (6) condo project, OR New plans could be drawn for seventeen (17) one bedroom apartment building, three (3) of which would have to be allocated for "low income housing" (Buyer is to independently verify). Property is close to UCLA, VA hospital, Westwood Village, shops and restaurants and both the 405 and 10 freeways."
24-462561
MLSⓇ ID
November 11, 2024
Listed
November 22, 2024
Updated
Map
1115 S Westgate Ave
Los Angeles CA, 90049
Exterior/Building Features
Lot Size
0.16 Acres
Other Property Details
Area Name
Brentwood
Days on Market
8
Garage
No
View
No
View Description
None
County
Los Angeles
Pool
No
Zoning
LAR3
Listed by Timothy Macker with Timothy C. Macker Jr.
Listing Contact: 310-966-4397
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor AGENTinLA | CA DRE# 01992220 | CA DRE# 02017875 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 11/22/2024