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Multi-Family

3704-3714 Glendon Ave

3704-3714 Glendon Ave, Los Angeles, CA 90034

Listing Price: $6,700,000

Lot Size
0.37 acres
Price/Acre
$17,900,638
Land Type
Redevelopment
Buildable Square Feet
31,482

Investment Overview

Marcus & Millichap is pleased to present to market the rare opportunity to acquire three continguous parcels in Los Angeles’ Palms neighborhood. The offering boasts a great location at 3704, 3710 and 3714 Glendon Avenue, less than a block north of Venice Boulevard and a Ralph’s grocery store, a half-mile from Sony Studios, surrounded by numerous major development projects, proximate to downtown Culver City’s popular entertainment and major employers, and just four miles to Venice Beach. The average household income within one mile exceeds $110,000. The subject property encompasses a total lot size of 16,304 square feet zoned LAR3, and a new investor may be able to develop 36 units by utilizing low income density bonuses (buyer to verify). Assuming a development of 31,482 rentable square feet with a mix of studio, one-bedroom, and two-bedroom units, the estimated value of the completed project would be $21,500,000. 3704-3714 Glendon Avenue currently features four existing buildings with 12 total units that generate $22,762 in monthly rent.

Investment Highlights

  • Rare Multifamily Development Opportunity Spanning Three Contiguous Parcels in Los Angeles' Palms Neighborhood
  • 16,304-Square Foot Lot Zoned LAR3
  • Potential to Develop 36 Units by Utilizing Low Income Density Bonuses (Buyer to Verify)
  • Great Location Near Venice Boulevard Retail, Downtown Culver City Entertainment, Major Employers, and Beach Cities
  • 12 Existing Units Generate $22,762 in Monthly Rent

Exclusively Listed By

Financing By

Multi-Family

3704-3714 Glendon Ave

Listing Price: $6,700,000

Lot Size
0.37 acres
Price/Acre
$17,900,638
Land Type
Redevelopment
Buildable Square Feet
31,482

Investment Highlights

  • Rare Multifamily Development Opportunity Spanning Three Contiguous Parcels in Los Angeles' Palms Neighborhood
  • 16,304-Square Foot Lot Zoned LAR3
  • Potential to Develop 36 Units by Utilizing Low Income Density Bonuses (Buyer to Verify)
  • Great Location Near Venice Boulevard Retail, Downtown Culver City Entertainment, Major Employers, and Beach Cities
  • 12 Existing Units Generate $22,762 in Monthly Rent

Investment Overview

Marcus & Millichap is pleased to present to market the rare opportunity to acquire three continguous parcels in Los Angeles’ Palms neighborhood. The offering boasts a great location at 3704, 3710 and 3714 Glendon Avenue, less than a block north of Venice Boulevard and a Ralph’s grocery store, a half-mile from Sony Studios, surrounded by numerous major development projects, proximate to downtown Culver City’s popular entertainment and major employers, and just four miles to Venice Beach. The average household income within one mile exceeds $110,000. The subject property encompasses a total lot size of 16,304 square feet zoned LAR3, and a new investor may be able to develop 36 units by utilizing low income density bonuses (buyer to verify). Assuming a development of 31,482 rentable square feet with a mix of studio, one-bedroom, and two-bedroom units, the estimated value of the completed project would be $21,500,000. 3704-3714 Glendon Avenue currently features four existing buildings with 12 total units that generate $22,762 in monthly rent.

Exclusively Listed By

Financing By

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