Investment Overview

Marcus & Millichap is pleased to present 3837 College Avenue, a rare high-density multifamily development opportunity located in the heart of the Culver City Arts District. The ±7,500 square foot infill site is zoned CCR4, Culver City’s most permissive residential designation, and supports the development of up to 21 buildable multifamily units. Offered at $2,000,000, the property is priced at approximately $267 per land square foot and $95,238 per buildable unit, providing an attractive basis relative to recent Westside land trades. Positioned in one of Los Angeles’ most supply-constrained and transit-oriented submarkets, the offering presents investors and developers the opportunity to capitalize on continued multifamily demand driven by the Westside’s expanding creative and technology economy. The property consists of a 50’ x 150’ lot currently improved with two residential structures and a garage/storage building, all of which are anticipated to be demolished for future redevelopment. CCR4 zoning allows for high-density multifamily construction and may provide additional upside through State Density Bonus programs and affordable housing incentives. The site benefits from proximity to the Metro E Line, approximately 1.6 miles away, providing direct connectivity to Downtown Santa Monica, Downtown Los Angeles, and USC. New construction rental comparables within the immediate area demonstrate strong achievable rents ranging from approximately $5 to $7 per square foot, reinforcing the viability of developing premium multifamily product in the neighborhood. Located within the highly desirable Culver City Arts District, the property is surrounded by a rapidly evolving mix of multifamily, creative office, retail, and entertainment uses. The neighborhood is anchored by major employers including Sony Pictures, Amazon Studios, Apple, HBO, TikTok, and numerous technology and media companies throughout the Westside. The immediate area offers an 84 Walk Score and benefits from strong renter demographics, with renter occupancy rates exceeding 64% within a five-mile radius. Continued population growth, high household incomes, and limited new housing supply have sustained strong apartment fundamentals across the Culver City submarket, positioning 3837 College Avenue as a compelling long-term development opportunity on the Westside of Los Angeles.