$ 3,600,000
1656 Sawtelle Blvd Los Angeles, CA 90025
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$ 3,600,000
Est. payment /mo
Price Dropped by $395K
1656 Sawtelle Blvd Los Angeles, CA 90025
7,007 Sqft Lot
UPDATED:
11/13/2024 06:31 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-420273
Lot Size 7,007 Sqft
Acres 0.1609
Property Description
We are excited to present a primely located development opportunity located at 1656 Sawtelle Blvd, Los Angeles, CA 90025.The project is ready for immediate construction with the plans being fully approved and RTI (ready to issue). Also, the old structure on the lot has already been demolished allowing for an even quicker construction start date.The RTI plans call for the development of 33 apartment units that will span an 24,804 square feet of gross building area. The proposed design includes 21 one-bedroom/one-bath and 12 two-bedroom/one-bath apartments, four of which are designated for very low-income tenants.This opportunity provides a unique advantage to bypass SB330 regulations and develop 33 units in a prime location at the heart of one of Los Angeles' most booming sub-markets. West Los Angeles is a continually growing area with some of the lowest vacancy rates in the county.1656 Sawtelle is located in the the Sawtelle neighborhood of West Los Angeles which is a vibrant and eclectic area that serves as a cultural crossroads, most notably highlighted by its "Little Osaka" district that showcases a rich blend of Japanese and American culture. This diverse and bustling community is a food lover's paradise, renowned for its array of sushi bars, ramen houses, and specialty grocery stores, as well as a variety of other international cuisines. Not just a gastronomic haven, Sawtelle is also a commercial and residential hub, featuring trendy boutiques, art galleries, and modern apartment complexes. The neighborhood enjoys excellent accessibility, bordered by major arteries like the 405 Freeway and Santa Monica Boulevard, making it convenient for both residents and visitors. Adding to its allure are its green spaces such as Stoner Recreation Center, where families can enjoy outdoor activities in a relaxed setting. With its unique blend of cultural diversity, commercial vitality, and residential comfort, Sawtelle offers a microcosm of what makes West Los Angeles one of the most desirable places to live and visit.
Location
State CA
County Los Angeles
Area West L.A.
Zoning LAC2
Exterior
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Special Listing Condition Standard
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Listed by Marcus & Millichap