1115-1121 Westgate Ave, Los Angeles, CA 90049
0.16 Acres of Residential Land Offered at $2,900,000 USD in Los Angeles, CA 90049
For Sale
Active
Asking Price $2,900,000
- Property Type
-
Land
- Square Feet
- 6,970 SF
Listing Contacts
T.C. Macker, CCIM
Woody Cook
Property Overview
WESTMAC Commercial Brokerage Company and Nelson Shelton Real Estate are pleased to present the opportunity to purchase
1115-1121 S. Westgate Avenue, Los Angeles, CA 90049, an extraordinary development opportunity in prime Brentwood.
Located between Kiowa Avenue and Goshen Avenue, 1115-1121 S. Westgate Avenue features two parcels totaling ±6,900 square
feet of land in the highly desirable Brentwood neighborhood with [Q]R3-1 zoning. The lack of developable R3 and R4 zones in LA
is one of the biggest roadblocks to constructing new apartments, making this an extraordinary opportunity for savvy developers
looking to build multifamily housing development. The former building has been demolished and the lot currently sits vacant.
The Seller has submitted plans based on by-right development for a four (4) story, eight (8) unit apartment building with one (1) level of subterranean parking. This property is ready to issue permits.
The Property’s unbeatable Brentwood location is one of Los Angeles’s most desirable and sought after neighborhoods, combined with a high barriers to entry market, making this a rare development opportunity. The Property is located less than one mile from the VA Greater Los Angeles Healthcare System and has a high walk score of 86. It is also in close proximity to UCLA, Westwood, Santa Monica and The Pacific Palisades. The location provides easy access to both the 405 and 10 freeways and access to much of the best shopping, dining, and culture that Los Angeles has to offer.
1115-1121 S. Westgate Avenue, Los Angeles, CA 90049, an extraordinary development opportunity in prime Brentwood.
Located between Kiowa Avenue and Goshen Avenue, 1115-1121 S. Westgate Avenue features two parcels totaling ±6,900 square
feet of land in the highly desirable Brentwood neighborhood with [Q]R3-1 zoning. The lack of developable R3 and R4 zones in LA
is one of the biggest roadblocks to constructing new apartments, making this an extraordinary opportunity for savvy developers
looking to build multifamily housing development. The former building has been demolished and the lot currently sits vacant.
The Seller has submitted plans based on by-right development for a four (4) story, eight (8) unit apartment building with one (1) level of subterranean parking. This property is ready to issue permits.
The Property’s unbeatable Brentwood location is one of Los Angeles’s most desirable and sought after neighborhoods, combined with a high barriers to entry market, making this a rare development opportunity. The Property is located less than one mile from the VA Greater Los Angeles Healthcare System and has a high walk score of 86. It is also in close proximity to UCLA, Westwood, Santa Monica and The Pacific Palisades. The location provides easy access to both the 405 and 10 freeways and access to much of the best shopping, dining, and culture that Los Angeles has to offer.
Property Details
- Property Subtype
- Residential/Multifamily
All available spaces
- Space
- Lot 1
- Size
- 6,970 SF
- Price
- $2,900,000
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