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Multi-Family

10605-10609 Eastborne

10605-10609 Eastborne Ave, Los Angeles, CA 90024

Listing Price: $5,500,000

Lot Size
0.30 acres
Price/Acre
$18,429,231
Land Type
Redevelopment
Buildable Square Feet
40,912

Investment Overview

Marcus and Millichap is pleased to present 10605-10609 Eastborne Avenue, a high-profile development opportunity located in the 90024 zip code of Westwood, one of the best zip codes in the country. There are two side by side lots, each 50 feet by 130 feet. Both properties currently have rental units on them. 10605 Eastborne has 3 units and 10609 Eastborne has 4 units, some of which can be delivered vacant. The site is zoned R3 and it is Tier 2 TOC allowing a developer many options when designing the project. By-right; the zoning allows 16 units, with a 45-foot height limit and a building envelope of 27,000 square feet, this might be the best option for someone looking to build condos. If someone is looking to utilize the TOC density bonus and maximize unit count, they would be able to build 28 units, go up to 56 feet and have a building envelope of 40,912 square feet. A developer might even be able to build a few more units on this site by designing for ADU conversion, this could bring up to 7 more units for a total of 35 units. The property is centrally located a few steps from Santa Monica Blvd. To the west you have West LA, the north you have UCLA campus and Westwood, to the east you have Westfield Century City Mall and Beverly Hills and to the south you have Rancho Park, home of the new Google office campus. The Offering is right on the cusp of countless development projects which would yield hundreds of new units either proposed or underway. Some new projects in close proximity include: the Martin Expo Town Center, 516 units, a grocery store, a 10-story office tower, and a proposed 129 units. The property is surrounded by local amenities including Beverly Hills’ Rodeo Drive, Culver City Studios, Fox Studios, the new Century City mall, Sawtelle’s Japantown, and Westwood Village. Major employers include entertainment giants 21st Century Fox and Sony Pictures. While roughly 20,000 jobs are in the motion-picture industry, ancillary businesses tied to entertainment are a major source of employment.

Investment Highlights

  • Excellent Westwood Location
  • Zoned R3 & TOC Tier-2
  • Double Lot - 100 ft of Frontage
  • 16 Units By-Right | 28 w/ Bonus
  • Can Build 7 ADUs After CofO
  • Max FAR - 4.35 : 1

Exclusively Listed By

Financing By

Listing Price: $5,500,000

Lot Size
0.30 acres
Price/Acre
$18,429,231
Land Type
Redevelopment
Buildable Square Feet
40,912

Investment Highlights

  • Excellent Westwood Location
  • Zoned R3 & TOC Tier-2
  • Double Lot - 100 ft of Frontage
  • 16 Units By-Right | 28 w/ Bonus
  • Can Build 7 ADUs After CofO
  • Max FAR - 4.35 : 1

Investment Overview

Marcus and Millichap is pleased to present 10605-10609 Eastborne Avenue, a high-profile development opportunity located in the 90024 zip code of Westwood, one of the best zip codes in the country. There are two side by side lots, each 50 feet by 130 feet. Both properties currently have rental units on them. 10605 Eastborne has 3 units and 10609 Eastborne has 4 units, some of which can be delivered vacant. The site is zoned R3 and it is Tier 2 TOC allowing a developer many options when designing the project. By-right; the zoning allows 16 units, with a 45-foot height limit and a building envelope of 27,000 square feet, this might be the best option for someone looking to build condos. If someone is looking to utilize the TOC density bonus and maximize unit count, they would be able to build 28 units, go up to 56 feet and have a building envelope of 40,912 square feet. A developer might even be able to build a few more units on this site by designing for ADU conversion, this could bring up to 7 more units for a total of 35 units. The property is centrally located a few steps from Santa Monica Blvd. To the west you have West LA, the north you have UCLA campus and Westwood, to the east you have Westfield Century City Mall and Beverly Hills and to the south you have Rancho Park, home of the new Google office campus. The Offering is right on the cusp of countless development projects which would yield hundreds of new units either proposed or underway. Some new projects in close proximity include: the Martin Expo Town Center, 516 units, a grocery store, a 10-story office tower, and a proposed 129 units. The property is surrounded by local amenities including Beverly Hills’ Rodeo Drive, Culver City Studios, Fox Studios, the new Century City mall, Sawtelle’s Japantown, and Westwood Village. Major employers include entertainment giants 21st Century Fox and Sony Pictures. While roughly 20,000 jobs are in the motion-picture industry, ancillary businesses tied to entertainment are a major source of employment.

Exclusively Listed By

Financing By

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