REDUCED! Partners CRE are proud to exclusively present for sale a redevelopment opportunity in Palms, Los Angeles.
Situated on Bagley Ave., between National Blvd. and Kincardine Ave., this 6,400 SF R3-1 Tier 3 lot is very close to Downtown Culver City.
The 12 Unit Project is very close to getting the Letter of Determination (“LOD”) issued. The plans have already been submitted to the City. The Project consists of three 1+1, eight 2+2, and one 3+2 units. Two units will be dedicated to Affordable Housing (one Extremely Low Income and the other Very Low Income). Convert the Common Room on the 2nd Floor to an ADU!
Four stories over on-grade concrete podium parking, this Project will provide 6 parking spaces. Future residents will enjoy a rooftop that will have great views of Los Angeles.
With an average household income over $118,000 within a one mile radius, the future rental pool for this Project is very promising.
This property is located in the Palms neighborhood of Los Angeles, sitting between the Cheviot Hills Shopping Center and the Cheviot Hills High School (which is part of Hamilton High School). The neighborhood borders Culver City, one of the hottest areas in Greater Los Angeles. Culver City is home to large public companies including Apple, Amazon and Sony Picture Studios campuses.
Easy access to the 10 freeway makes this property an easy commute to all areas around Los Angeles.
Currently a Duplex is on site; the property will be delivered vacant.
