3 Contiguous lots being offered with 29 units combined as a development opportunity in prime Silicon Beach and Del Rey art district. 23,846 sq ft combined lot size situated in the midst of some of the largest developments underway in Los Angeles. Potential to build a large apartment complex or condo's in one of the most sought-after area's close to Playa Vista, Marina Del Rey and Venice Beach. This asset is currently comprised of 29 unit rental property with a mix of 7 studios, 8 (1+1) 13 (2+1) and 1 x 3 bd unit and 34 parking spaces. Rent raises are due in November and a current total GI of $457,331.00 annually still making this a financeable property in its current use. Historically a low vacancy area with high demand for rental units. Google, Snapchat, Yahoo, and Tesla to name a few of the surrounding companies calling Silicon beach their home along with new developments underway with movie theaters, world class Restaurants and shopping within walking distance.
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Listing Courtesy ofColdwell Banker Residential Brokerage