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10031-10045 Palms Blvd 3470-3488 Clarington Ave 18 Unit Apartment Building $7,500,000 ($416,667/Unit) Los Angeles, CA 90034
INVESTMENT HIGHLIGHTS
- 100 feet to Metro Palms Station
- Expo Corridor Transit Neighborhood
- In-Place Income
- Accessible from 3 Streets
- Convenient Freeway access to 10 and 405
EXECUTIVE SUMMARY
Lee & Associates WLA has been exclusively retained to sell 10031-10045 Palms Blvd and 3470-3488 Clarington Ave., a mixed-use multifamily transit orientated development opportunity. The property is strategically located directly across from the Metro Expo Line Station in Palms which is a short ride from the Westwood/Rancho and
Culver City stations offering residents ease of access to employment, business’s, restaurants and entertainment. The property currently consists of approximately 31,000sf (0.71Acres) of land zoned MU(EC) and a 2-story 18-unit apartment building currently 50% occupied providing some in-place income. A buyer has the flexibility of developing with an FAR from 2 FAR - 3.6 FAR with a minimum unit size of 350 SF and a commercial component. Being within the Exposition Corridor Transit Neighborhood “Specific Plan” allows the developer to submit Architectural design that conforms to specific plan, receive administrative clearance pursuant to the specific plan process and
go directly to construction drawings. Palms/Clarington/National is a uniquely located Transit Priority development opportunity in the heart of West Los Angeles with ease of access to the 10 Fwy and 405 Fwy, LAX Downtown and Beach Cities.
Culver City stations offering residents ease of access to employment, business’s, restaurants and entertainment. The property currently consists of approximately 31,000sf (0.71Acres) of land zoned MU(EC) and a 2-story 18-unit apartment building currently 50% occupied providing some in-place income. A buyer has the flexibility of developing with an FAR from 2 FAR - 3.6 FAR with a minimum unit size of 350 SF and a commercial component. Being within the Exposition Corridor Transit Neighborhood “Specific Plan” allows the developer to submit Architectural design that conforms to specific plan, receive administrative clearance pursuant to the specific plan process and
go directly to construction drawings. Palms/Clarington/National is a uniquely located Transit Priority development opportunity in the heart of West Los Angeles with ease of access to the 10 Fwy and 405 Fwy, LAX Downtown and Beach Cities.
PROPERTY FACTS
| Price | $7,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $416,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Sale Condition | Redevelopment Project | Building Size | 28,742 SF |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1951 |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - Residential | ||
| Price | $7,500,000 |
| Price Per Unit | $416,667 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 28,742 SF |
| No. Stories | 2 |
| Year Built | 1951 |
| Zoning | LAR3 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
- Pantry
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 18 | - | 1,000 |
1 1
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 4313-001-002 | Improvements Assessment | $434,888 |
| Land Assessment | $356,765 | Total Assessment | $791,653 |
PROPERTY TAXES
Parcel Number
4313-001-002
Land Assessment
$356,765
Improvements Assessment
$434,888
Total Assessment
$791,653
CONTACTS
-
Duncan Lemmon -
David Wilson -
Spencer Horak -
George Wilson -
Lindsay Shuford -
Lee & Associates - West LA
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10031-10045 Palms Blvd | 3470-3488 Clarington Ave
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