Multi-Family
Rampart.329-335
329-335 S Rampart Blvd, Los Angeles, CA 90057
Listing Price: $2,900,000
Investment Overview
The Neema Group of Marcus and Millichap is proud to present 329-335 S Rampart Blvd, a multifamily development opportunity located just south of W 3rd St on the border of Westlake & Koreatown
The double lot totals 16,262 SF zoned R4-1 in a Tier 2 TOC offered at a low price per SF of $178 at the asking price
An investor could build 41 units by right or utilize the TOC density increase and build up to66 units; the lot was previously entitled for a 53-unit project with two levels of subterranean parking, however, a developer could eliminate the parking requirement via AB 2097 (Buyer to verify)
Alternatively, there is also potential to achieve unlimited density via AB 2345 and expedited entitlement process through Executive Directive 1 if a 100% affordable housing project is pursued
The double lot is currently vacant; no tenant relocation required High Walk Score of 93, 329-335 S Rampart Blvd is located one mile from the Metro Red and Purple Lines and steps to multiple Metro Local Line bus stops at W 3rd St & S Rampart Blvd
Central location that is beneficial for residents that commute throughout the city with close proximity to employment hubs in Downtown Los Angeles, Koreatown, Westlake, Silver Lake, and Hollywood
The rental market continues to grow, illustrated through the plentiful new developments currently under construction in the area such as the Belle on Bev at 1800 Beverly Blvd (243 units), K-Town Place at 668 S
Coronado St (122 units), and 1999 Apartments at 1999 W 3rd St (137 units), among others
Investment Highlights
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Exclusively Listed By
Financing By
Listing Price: $2,900,000
Investment Highlights
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Investment Overview
The Neema Group of Marcus and Millichap is proud to present 329-335 S Rampart Blvd, a multifamily development opportunity located just south of W 3rd St on the border of Westlake & Koreatown The double lot totals 16,262 SF zoned R4-1 in a Tier 2 TOC offered at a low price per SF of $178 at the asking price An investor could build 41 units by right or utilize the TOC density increase and build up to66 units; the lot was previously entitled for a 53-unit project with two levels of subterranean parking, however, a developer could eliminate the parking requirement via AB 2097 (Buyer to verify) Alternatively, there is also potential to achieve unlimited density via AB 2345 and expedited entitlement process through Executive Directive 1 if a 100% affordable housing project is pursued The double lot is currently vacant; no tenant relocation required High Walk Score of 93, 329-335 S Rampart Blvd is located one mile from the Metro Red and Purple Lines and steps to multiple Metro Local Line bus stops at W 3rd St & S Rampart Blvd Central location that is beneficial for residents that commute throughout the city with close proximity to employment hubs in Downtown Los Angeles, Koreatown, Westlake, Silver Lake, and Hollywood The rental market continues to grow, illustrated through the plentiful new developments currently under construction in the area such as the Belle on Bev at 1800 Beverly Blvd (243 units), K-Town Place at 668 S Coronado St (122 units), and 1999 Apartments at 1999 W 3rd St (137 units), among others