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4545 Santa Monica Boulevard
Los Angeles, CA 90029
Sold
4545 Santa Monica Boulevard
Los Angeles, CA 90029
Sold
We are pleased to present a 9,986 square foot redevelopment site that is ideal for ED1 located at 4541-4545 Santa Monica Boulevard in Los Angeles, California. The subject property is situated in a prime Virgil Village location two (2) blocks away from Silver Lake, west of Virgil Avenue and north of Santa Monica Boulevard. This offering is positioned on two (2) parcels totaling 9,986 square feet (SF) of land with a zoning ordinance of LAC2-1D where the D suffix is a limitation to the buildable area of the lot, and for conformance to the Vermont/Western Station Neighborhood Area Plan (SNAP). The property is a rare corner, double-lot along Santa Monica Boulevard with two (2) points of access for easy development. The current building is vacant, ready for immediate entitlement process under Executive Directive 1 (ED1). Under the State Density Bonus program CA Code 65915(f)(3)(a)(ii) and pursuant to ED1, the site has no maximum density when qualified as a 100% affordable development (b)(1)(G). Utilizing these guidelines, there is ample potential to design a project at almost any scale, up to around one hundred twelve (112) units while keeping the project under "high-rise" qualifications. Additionally, the site is AB 2097 eligible, meaning there is no minimum parking requirement for ED1 designs, Buyer to verify. The location carries strong market fundamentals, ranking as one of the highest LA County submarkets for apartment unit market absorption. Positioned in a prime Virgil Village location two (2) blocks away from Silver Lake, this offering presents a rare opportunity for an astute developer to capitalize on redeveloping a rare corner, double-lot under ED1 in a core market of Los Angeles.
PROPERTY INFORMATION
| MLS # | 24378603 | Lot Size | 9,986 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 2,195,000
Price Per SqFt: $ 220 |
DOM | 391 Days |
| Address | 4545 Santa Monica Boulevard | Type | Land |
| City | Los Angeles | Sq.Ft. | 9,986 Sq. Ft. |
| Postal Code | 90029 | Garage | N/A |
| County | Los Angeles | Year Built | |
| Bed / Bath | 0 / 0 | Parking | N/A |
| Built In | Status | Closed | |
| Sold Date | 2024-09-13 |
INTERIOR FEATURES
| Has Appliances | Yes |
EXTERIOR FEATURES
WALKSCORE
Walk Score: 92 (Walker's Paradise)
Transit Score: 70 (Excellent Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,341
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 04/10/2024 | Listed | $2,195,000 |
Topfind Realty
REALTOR®
(844)-333-8033
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Listing provided courtesy of Jason Tuvia, Marcus & Millichap. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
