Multi-Family
560 Hilgard Ave
560 Hilgard Ave, Los Angeles, CA 90024
Listing Price: $15,000,000
Investment Overview
Marcus & Millichap is pleased to present 560 Hilgard Avenue, a rare ±25,060 SF development site located in the heart of Westwood, one of Los Angeles’ most supply-constrained and institutionally coveted neighborhoods. Situated immediately adjacent to UCLA and within close proximity to the UCLA Medical Center, the property offers developers the opportunity to capitalize on one of Southern California’s most durable demand drivers while benefiting from an expansive suite of transit-oriented housing incentives. The site is currently designated High Density Residential, zoned[Q]R4-1VL, and is located within TOC Tier 4, TOIA Incentive Area 3, an Opportunity Corridor Incentive Area (OC-1), a High Quality Transit Corridor, an AB 2097 transit zone, an AB 2334 Very Low Vehicle Travel Area, a TCAC High Opportunity Area, and a designated Housing Element Site, creating multiple pathways for multifamily, student housing, mixed-income, affordable housing, and potentially senior housing development.
Positioned just steps from UCLA and surrounded by Westwood Village’s vibrant retail, dining, entertainment, and employment base, the property benefits from one of the strongest residential demand generators in California. UCLA serves more than 48,000 students and is one of the region’s largest employers, attracting a continuous population of students, faculty, researchers, medical professionals, and visitors. Westwood’s walkable urban environment, affluent demographics, strong public transit connectivity, and proximity to Century City, Beverly Hills, Brentwood, and Santa Monica continue to support long-term housing demand across all market segments.
Beyond traditional multifamily development, the site’s proximity to the nationally recognized UCLA Medical Center creates a compelling opportunity for age-restricted, active adult, memory care, or assisted living development strategies. The convergence of premier healthcare services, high-income surrounding neighborhoods, and an amenity-rich environment is consistent with characteristics sought by senior housing operators and investors. Few sites in West Los Angeles provide the ability to serve both the university ecosystem and the growing healthcare-oriented senior demographic from a single location.
560 Hilgard Ave
Investment Highlights
- Rare Generational UCLA-Adjacent Development Opportunity | One of the few remaining residential development sites located immediately adjacent to UCLA.
- Positioned to Benefit from Strong UCLA-Affiliated Housing Demand | The property's walkable location to campus creates a compelling opportunity to develop housing serving the UCLA affiliated market.
- Potential Senior Housing & Healthcare-Oriented Residential Opportunity | Located near the nationally recognized UCLA Medical Center and broader UCLA Health system.
- Premier Westwood Village Location | Situated in the heart of Westwood, future residents will enjoy immediate access to restaurants, retail, entertainment venues, cultural attractions, and everyday conveniences.
- Surrounded by Affluent Westside Communities | Benefiting from proximity to Beverly Hills, Bel-Air, Holmby Hills, Brentwood, Century City, and Santa Monica.
- Multiple Residential Development Strategies | The site offers flexibility for luxury multifamily, student housing, mixed-income housing, affordable housing, senior living, or healthcare-oriented residential development, allowing investors to pursue the highest and best use.
- Major Employment & Institutional Anchors | Immediate access to UCLA, UCLA Health, Century City, Beverly Hills, and the Wilshire Corridor provides a diverse and stable employment base supporting long-term residential demand.
- Exceptional Demographic Fundamentals | Strong population density, high educational attainment, substantial consumer spending, and affluent household incomes create a highly attractive foundation for future residential development. 5-mile population of 556,733 residents and an average household income of $153,128.
Exclusively Listed By
Listing Price: $15,000,000
Investment Highlights
- Rare Generational UCLA-Adjacent Development Opportunity | One of the few remaining residential development sites located immediately adjacent to UCLA.
- Positioned to Benefit from Strong UCLA-Affiliated Housing Demand | The property's walkable location to campus creates a compelling opportunity to develop housing serving the UCLA affiliated market.
- Potential Senior Housing & Healthcare-Oriented Residential Opportunity | Located near the nationally recognized UCLA Medical Center and broader UCLA Health system.
- Premier Westwood Village Location | Situated in the heart of Westwood, future residents will enjoy immediate access to restaurants, retail, entertainment venues, cultural attractions, and everyday conveniences.
- Surrounded by Affluent Westside Communities | Benefiting from proximity to Beverly Hills, Bel-Air, Holmby Hills, Brentwood, Century City, and Santa Monica.
- Multiple Residential Development Strategies | The site offers flexibility for luxury multifamily, student housing, mixed-income housing, affordable housing, senior living, or healthcare-oriented residential development, allowing investors to pursue the highest and best use.
- Major Employment & Institutional Anchors | Immediate access to UCLA, UCLA Health, Century City, Beverly Hills, and the Wilshire Corridor provides a diverse and stable employment base supporting long-term residential demand.
- Exceptional Demographic Fundamentals | Strong population density, high educational attainment, substantial consumer spending, and affluent household incomes create a highly attractive foundation for future residential development. 5-mile population of 556,733 residents and an average household income of $153,128.
Investment Overview
Marcus & Millichap is pleased to present 560 Hilgard Avenue, a rare ±25,060 SF development site located in the heart of Westwood, one of Los Angeles’ most supply-constrained and institutionally coveted neighborhoods. Situated immediately adjacent to UCLA and within close proximity to the UCLA Medical Center, the property offers developers the opportunity to capitalize on one of Southern California’s most durable demand drivers while benefiting from an expansive suite of transit-oriented housing incentives. The site is currently designated High Density Residential, zoned[Q]R4-1VL, and is located within TOC Tier 4, TOIA Incentive Area 3, an Opportunity Corridor Incentive Area (OC-1), a High Quality Transit Corridor, an AB 2097 transit zone, an AB 2334 Very Low Vehicle Travel Area, a TCAC High Opportunity Area, and a designated Housing Element Site, creating multiple pathways for multifamily, student housing, mixed-income, affordable housing, and potentially senior housing development. Positioned just steps from UCLA and surrounded by Westwood Village’s vibrant retail, dining, entertainment, and employment base, the property benefits from one of the strongest residential demand generators in California. UCLA serves more than 48,000 students and is one of the region’s largest employers, attracting a continuous population of students, faculty, researchers, medical professionals, and visitors. Westwood’s walkable urban environment, affluent demographics, strong public transit connectivity, and proximity to Century City, Beverly Hills, Brentwood, and Santa Monica continue to support long-term housing demand across all market segments. Beyond traditional multifamily development, the site’s proximity to the nationally recognized UCLA Medical Center creates a compelling opportunity for age-restricted, active adult, memory care, or assisted living development strategies. The convergence of premier healthcare services, high-income surrounding neighborhoods, and an amenity-rich environment is consistent with characteristics sought by senior housing operators and investors. Few sites in West Los Angeles provide the ability to serve both the university ecosystem and the growing healthcare-oriented senior demographic from a single location.
Exclusively Listed By
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