Granville Development Opportunity

 

1215 Granville Ave | West Los Angeles, California | 90025

$2,200,000

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About

  • Year Built: 1959

  • Type: Redevelopment

  • Units: 11

  • Bldg Size: 5,346 Sq Ft.

  • Lot Size: 6,999 Sq Ft.

AGENTS

 

ADDITIONAL INFORMATION

  • Prime West LA Location

  • Steps From Wilshire Blvd

  • Development Opportunity

  • LAR3 Zoning

  • Major Upside in Rents

The offering is an 11-unit 1950s style apartment building constructed in 1959. The highest and best use for the property is the potential for development on its 6,999 square foot lot. Given its location, the investment offers incredible intrinsic land value. Granville Ave Development is located just one block south of Wilshire Blvd in the heart of West Los Angeles. In its current state, the investment property consists of a 2-story, wood-frame stucco building with an approximate total gross square footage of 5,346. The building offers a unit mix comprised of five bachelor units, five 1+1 units, and one 2+2 unit. Amenities include on-site laundry and available parking for all tenants. NOTE: The property is currently being operated as six units, but will be delivered to the buyer with two vacant units (one bachelor and one 1+1) for a total of seven units. Granville Ave Development is an excellent investment opportunity with solid development potential. In an area with working professionals and families alike, this investment property can offer an upscale living option within a centrally located West LA community

 
 
Clark Everitt, Jonathan Krikorian, William Everitt, DevelopmentjaredGranville Development OpportunityNot Featured, Development