Investment Overview

Marcus & Millichap is pleased to exclusively present for purchase a prime multifamily RTI development site located at 214 South Rampart Boulevard, in the highly sought-after neighborhood in Westlake, Los Angeles. The property is conveniently located between W. 3rd Street and Beverly Boulevard, just east of Occidental Boulevard. This major north-south thoroughfare in Westlake connects Koreatown and Rampart Village to the financial district and Downtown Los Angeles. Residents at this location can enjoy the great outdoors at locales like MacArthur Park, La Fayette Park and Echo Park, along with quick and convenient access to Red & Purple Metro lines, as well as 110, 101, and 10 Freeways. The offering entails a 5-story type III-A, 24-unit apartment building over 1-level basement private garage. The project will contain 10 studios and 14 one-bedroom units, two of which have been set aside for extremely low-income household. The 7,000 SF project currently holds a single-family residence that plans call to be demolished. The proposed development would have a 70 feet height limit with approximately 18,000 square feet of floor area. Plans also outline 12 automobile and 26 bicycle spaces. 2,000 square feet have been allotted to open space including a rear yard area, fitness center, and private balconies.