431 N La Cienega Blvd 0.62 Acres of Residential Land Offered at $36,900,000 in Los Angeles, CA 90048

The Boyett Team at CBRE are proud to present a fully entitled redevelopment site for 389-units located at 431 La Cienega Boulevard in Los Angeles, California. The subject property is situated in one of the best pockets of Beverly Grove location just a couple blocks from the Beverly Center, north of Beverly Boulevard and west on La Cienega Boulevard.
Fully entitled for 389-units under the Mayor's Executive Directive 1 (ED1), the plans call for two hundred twenty-one (221) Studio / 1-Bathroom units and one hundred sixty-eight (168) 1-Bedroom / 1-Bathroom units. The building is planned to go eight (8) stories in height with a highly efficient, stackable design enabling modular construction from floors 2-8, and one (1) level subterranean which is designed as an express car wash. The site is just a couple blocks north of the acclaimed Beverly Center and Cedars-Sinai Medical Center, and less than half a mile southwest from the Pacific Design Center and West Hollywood Park.
Situated in one of the best located pockets of Beverly Grove between West Hollywood and Beverly Hills, this offering presents a once in a lifetime opportunity to capitalize on high density plans in an irreplaceable, heavily supply constrained market of Los Angeles.