We are pleased to present a 9,986 square foot redevelopment site that is ideal for ED1 located at 4541-4545 Santa Monica Boulevard in Los Angeles, California. The subject property is situated in a prime Virgil Village location two (2) blocks away from Silver Lake, west of Virgil Avenue and north of Santa Monica Boulevard. This offering is positioned on two (2) parcels totaling 9,986 square feet (SF) of land with a zoning ordinance of LAC2-1D where the D suffix is a limitation to the buildable area of the lot, and for conformance to the Vermont/Western Station Neighborhood Area Plan (SNAP). The property is a rare corner, double-lot along Santa Monica Boulevard with two (2) points of access for easy development. The current building is vacant, ready for immediate entitlement process under Executive Directive 1 (ED1). Under the State Density Bonus program CA Code 65915(f)(3)(a)(ii) and pursuant to ED1, the site has no maximum density when qualified as a 100% affordable development (b)(1)(G). Utilizing these guidelines, there is ample potential to design a project at almost any scale, up to around one hundred twelve (112) units while keeping the project under "high-rise" qualifications. Additionally, the site is AB 2097 eligible, meaning there is no minimum parking requirement for ED1 designs, Buyer to verify. The location carries strong market fundamentals, ranking as one of the highest LA County submarkets for apartment unit market absorption. Positioned in a prime Virgil Village location two (2) blocks away from Silver Lake, this offering presents a rare opportunity for an astute developer to capitalize on redeveloping a rare corner, double-lot under ED1 in a core market of Los Angeles.
Property Details
Price:
$2,195,000
MLS #:
24-378603
Status:
Active
Baths:
0
Address:
4545 -4537 Santa Monica Blvd
Type:
Land
Neighborhood:
silverlakeechopark
City:
Los Angeles
Listed Date:
Apr 10, 2024
State:
CA
Lot Size:
9,986 sqft / 0.23 acres (approx)
Schools
Interior
Exterior
Lot Description
2-4 Lots, Redevelopment Area, Lot Shape- Rectangular, Sidewalks, Value In Land
Lot Location
City, Corner Lot
Financial
See this Listing
Mortgage Calculator
Map
Community
Similar Listings Nearby
- 240 S Normandie AVE
LOS ANGELES, CA$2,800,000
1.62 miles away
- 4853 Melrose Ave
Los Angeles, CA$2,700,000
1.16 miles away
- 1637 S VERMONT AVE
LOS ANGELES, CA$2,600,000
3.32 miles away
- 757 Cole Ave
Los Angeles, CA$2,500,000
2.47 miles away
- 643 N Rossmore Ave
Los Angeles, CA$2,500,000
2.32 miles away
- 920 S La Brea Ave
Los Angeles, CA$2,495,000
4.00 miles away
- 958 S Grand View St
Los Angeles, CA$2,290,000
2.67 miles away
- 2801 Durand DR
HOLLYWOOD HILLS EAST, CA$2,250,000
2.93 miles away
- 833 N Las Palmas Ave
Los Angeles, CA$2,200,000
2.82 miles away
Courtesy of Jason Tuvia at Marcus & Millichap. The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share). This site was last updated 2024-05-02.
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share). This site was last updated 2024-05-02.
4545 -4537 Santa Monica Blvd
Los Angeles, CA
LIGHTBOX-IMAGES