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Commercial

1664 South Western Avenue

1664 S Western Ave, Los Angeles, CA 90006

Listing Price: $2,995,000

Lot Size
0.23 acres
Price/Acre
$13,029,282
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to present 1664 S Western Avenue, a rare owner-user / TOC Tier 3 development opportunity located between Mid-City and Koreatown in the heart of Los Angeles. 1664 S Western Avenue is situated on 10,012 square feet of land zoned C2-1VL-HPOZ-CPIO, allowing for a variety of user options or the potential for up to 45 multifamily units. 1664 S Western Avenue is a unique property comprised of 990 square feet of office space previously operated as a fully licensed car lot. The lot boasts 10,012 square feet of useable asphalted space which can easily fit 30 cars. The property is located just four parcels south of the signalized corner of Venice Boulevard and Western Avenue, which averages over 45,000 vehicles per day. 1664 S Western Avenue also offers an excellent opportunity for future development. Zoned C2-1VL-HPOZ-CPIO and falling under the “Neighborhood-Serving Corridor” of the South Los Angeles Community Plan Implemented Overlay (CPIO), the property allows for uses under the LAC1.5 zone and LAR4 for residential uses. If a developer plans to build a residential project, one may utilize a Base density of 1 unit per 400 square feet of lot area (25 units) and apply for up to 70% increase in density or up to 45 units.

Investment Highlights

  • Prime Owner/User Opportunity
  • Opportunity to Build up to 45 Units
  • Excellent Exposure

Exclusively Listed By

Financing By

Commercial

1664 South Western Avenue

Listing Price: $2,995,000

Lot Size
0.23 acres
Price/Acre
$13,029,282
Land Type
Land

Investment Highlights

  • Prime Owner/User Opportunity
  • Opportunity to Build up to 45 Units
  • Excellent Exposure

Investment Overview

Marcus & Millichap is pleased to present 1664 S Western Avenue, a rare owner-user / TOC Tier 3 development opportunity located between Mid-City and Koreatown in the heart of Los Angeles. 1664 S Western Avenue is situated on 10,012 square feet of land zoned C2-1VL-HPOZ-CPIO, allowing for a variety of user options or the potential for up to 45 multifamily units. 1664 S Western Avenue is a unique property comprised of 990 square feet of office space previously operated as a fully licensed car lot. The lot boasts 10,012 square feet of useable asphalted space which can easily fit 30 cars. The property is located just four parcels south of the signalized corner of Venice Boulevard and Western Avenue, which averages over 45,000 vehicles per day. 1664 S Western Avenue also offers an excellent opportunity for future development. Zoned C2-1VL-HPOZ-CPIO and falling under the “Neighborhood-Serving Corridor” of the South Los Angeles Community Plan Implemented Overlay (CPIO), the property allows for uses under the LAC1.5 zone and LAR4 for residential uses. If a developer plans to build a residential project, one may utilize a Base density of 1 unit per 400 square feet of lot area (25 units) and apply for up to 70% increase in density or up to 45 units.

Exclusively Listed By

Financing By

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