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Multi-Family

1314-1322 S Barrington Ave

1314 S Barrington Ave, Los Angeles, CA 90025

Listing Price: $4,600,000

Lot Size
0.32 acres
Price/Acre
$14,316,662
Land Type
Land

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 1314-1322 South Barrington Ave, Los Angeles, CA 90025. Located between Santa Monica Blvd and Wilshire Blvd, 1314-1322 S Barrington Ave features two parcels totaling 13,996 in the heart of West Los Angeles directly across the street from University High School Charter. The current structures consist of two multifamily apartment buildings totaling 10 units, with two units currently vacant. This offering presents a developer the opportunity to purchase a sizeable lot ideal for a multifamily development project. The parcels are currently zoned {Q}R3-1 with the ability to build 17 units by-right; there are no plans or entitlements in-place currently. With eight units presently occupied, a developer would benefit from collecting cash flow while planning for a new development. Considered one of the most desirable submarkets in all of Los Angeles, West Los Angeles continues to grow at a rapid pace with steady rent growth and new development. The subject property is located less than one mile from the VA Greater Los Angeles Healthcare System and has a high walk score of 83. 1314-1322 S Barrington Ave sits in the middle of employment hubs in Century City and Santa Monica and is a short drive to UCLA just 2.5 miles away. Close proximity to the 405 & 10 Freeways gives residents the ability to easily travel throughout Los Angeles.

Investment Highlights

  • Two parcels totaling 13,996 SF currently zoned {Q}R3-1 with the ability to build 17 units-by-right; no current plans or entitlements in-place
  • Located in the heart of West Los Angeles, walking distance to Wilshire Blvd and across the street from University High School Charter
  • Site is comprised of ten existing units with two vacancies; opportunity to collect cash flow while planning for a new development
  • The site has alley access from Texas Ave & Rochester Ave, providing extra buildable square footage and options for parking ingress and egress.

Exclusively Listed By

Listing Price: $4,600,000

Lot Size
0.32 acres
Price/Acre
$14,316,662
Land Type
Land

Investment Highlights

  • Two parcels totaling 13,996 SF currently zoned {Q}R3-1 with the ability to build 17 units-by-right; no current plans or entitlements in-place
  • Located in the heart of West Los Angeles, walking distance to Wilshire Blvd and across the street from University High School Charter
  • Site is comprised of ten existing units with two vacancies; opportunity to collect cash flow while planning for a new development
  • The site has alley access from Texas Ave & Rochester Ave, providing extra buildable square footage and options for parking ingress and egress.

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 1314-1322 South Barrington Ave, Los Angeles, CA 90025. Located between Santa Monica Blvd and Wilshire Blvd, 1314-1322 S Barrington Ave features two parcels totaling 13,996 in the heart of West Los Angeles directly across the street from University High School Charter. The current structures consist of two multifamily apartment buildings totaling 10 units, with two units currently vacant. This offering presents a developer the opportunity to purchase a sizeable lot ideal for a multifamily development project. The parcels are currently zoned {Q}R3-1 with the ability to build 17 units by-right; there are no plans or entitlements in-place currently. With eight units presently occupied, a developer would benefit from collecting cash flow while planning for a new development. Considered one of the most desirable submarkets in all of Los Angeles, West Los Angeles continues to grow at a rapid pace with steady rent growth and new development. The subject property is located less than one mile from the VA Greater Los Angeles Healthcare System and has a high walk score of 83. 1314-1322 S Barrington Ave sits in the middle of employment hubs in Century City and Santa Monica and is a short drive to UCLA just 2.5 miles away. Close proximity to the 405 & 10 Freeways gives residents the ability to easily travel throughout Los Angeles.

Exclusively Listed By

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