560 Hilgard Ave 3,528 SF Specialty Building Offered at $15,000,000 in Los Angeles, CA 90024

Marcus & Millichap is pleased to present 560 Hilgard Avenue, a rare ±25,060 SF development site located in the heart of Westwood, one of Los Angeles’ most supply-constrained and institutionally coveted neighborhoods. Situated immediately adjacent to UCLA and within close proximity to the UCLA Medical Center, the property offers developers the opportunity to capitalize on one of Southern California’s most durable demand drivers while benefiting from an expansive suite of transit-oriented housing incentives. The site is currently designated High Density Residential, zoned[Q]R4-1VL, and is located within TOC Tier 4, TOIA Incentive Area 3, an Opportunity Corridor Incentive Area (OC-1), a High Quality Transit Corridor, an AB 2097 transit zone, an AB 2334 Very Low Vehicle Travel Area, a TCAC High Opportunity Area, and a designated Housing Element Site, creating multiple pathways for multifamily, student housing, mixed-income, affordable housing, and potentially senior housing development.
Positioned just steps from UCLA and surrounded by Westwood Village’s vibrant retail, dining, entertainment, and employment base, the property benefits from one of the strongest residential demand generators in California. UCLA serves more than 48,000 students and is one of the region’s largest employers, attracting a continuous population of students, faculty, researchers, medical professionals, and visitors. Westwood’s walkable urban environment, affluent demographics, strong public transit connectivity, and proximity to Century City, Beverly Hills, Brentwood, and Santa Monica continue to support long-term housing demand across all market segments.
Beyond traditional multifamily development, the site’s proximity to the nationally recognized UCLA Medical Center creates a compelling opportunity for age-restricted, active adult, memory care, or assisted living development strategies. The convergence of premier healthcare services, high-income surrounding neighborhoods, and an amenity-rich environment is consistent with characteristics sought by senior housing operators and investors. Few sites in West Los Angeles provide the ability to serve both the university ecosystem and the growing healthcare-oriented senior demographic from a single location.