1511 Hi Point St
Los Angeles, CA 90035
Land For Sale · 0.41 AC

Berkadia is pleased to present 1507-1511 Hi Point, which offers a developer the opportunity to purchase a Fully Entitled, 40 Luxury Residential Unit Development Site with RTI Permits (including mechanical, electrical, and plumbing, etc.), just minutes to Beverly Hills. The 40 units are comprised of an approved unit mix of 23 - 2 bed / 2 bath units, averaging 1,014 SF; and 17 - 3 bed / 2 bath units, averaging 1,505 SF. In addition to qualifying for Tier 3 TOC Benefits (Transit Oriented Corridor, Tier 3), there are no linkage fees and no existing rent-controlled housing to demolish. The flat, rectangular 17,678 SF double lot is currently improved with two vacant single-family homes. The subject site is located just south of the Beverly Hills border, in an area that is currently experiencing transformative development. 1507-1511 Hi Point is located within minutes to Beverly Hills, in the Faircrest Heights neighborhood of Los Angeles, just west of Fairfax Avenue. The site is located within one-and-a-quarter miles from the planned Metro Purple Line at Wilshire/Fairfax, currently under construction and slated for 2023 completion. With a Walkscore of 86, the neighborhood is considered "very walkable" with a variety of neighborhood restaurants and coffee shops, as well as a Trader Joe's and Whole Foods nearby. Beverly Hills, Century City, Downtown Culver City, The Grove lifestyle shopping center, the Beverly Center, and the trendy Larchmont area, are within a short distance of the site. The site is also conveniently situated approximately one mile north of Interstate 10, with connection to Interstate 405, providing convenient access to abundant employment opportunities throughout Greater Los Angeles.