$6,320,000
$6,999,000
9.7%For more information regarding the value of a property, please contact us for a free consultation.
4438 S Slauson AVE Culver City, CA 90230
0.46 Acres Lot
Key Details
Sold Price $6,320,000
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRPW21184778
Sold Date 01/31/22
Originating Board California Regional MLS
Lot Size 0.459 Acres
Property Description
MAJOR PRICE REDUCTION! We are pleased to present one of the most unique lot assemblages available in the LA market: Four consecutive single-family homes with alley access, all delivered vacant, no rent control or Ellis Act, and located in the booming tech hub of Silicon Beach. Located in Culver City, the property falls under Los Angeles Department of Building and Safety offering the developer a drastically streamlined planning and building timeframe compared to the Culver City building process. This assemblage will allow the savvy developer to build 42 luxury units utilizing a density bonus, or 28 units without bonus. The seller has built a new construction four-unit next door, having leased the four bedroom unit at $5,545, the three bedroom units at $4,646, and the two bedroom unit at $4,300. These rents prove the high demand for a quality rental in red hot Culver City. Another lucrative development option would be to utilize the Small Lot Subdivision approach to build 12 single family residences, ranging from 2,190-2,555 sf each with values of $1.8M - $2.2M per home. In addition to the four lots there is on market a fifth lot for sale by a third party, located at 4418 S Slauson. Acquiring this lot would bring the total SF to 25,506. The
Location
State CA
County Los Angeles
Area C28 - Culver City
Zoning LY,LSR
Exterior
Utilities Available Other
View City Lights, Local/Neighborhood
Building
Water District - Public
Others
Tax ID 4217018016
Special Listing Condition Not Applicable
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Bought with Seth Hamilton