3470-3488 Clarington Ave - Apartments FOR SALE


Los Angeles, CA 90034
$7,500,000 USD
310-899-2700
3470-3488 Clarington Ave, Los Angeles, CA for Sale
$7,500,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

3470-3488 Clarington Ave
Los Angeles, CA 90034


HIGHLIGHTS

  • 100 feet to Metro Palms Station
  • Accessible from 3 Streets
  • Expo Corridor Transit Neighborhood
  • Convenient Freeway access to 10 and 405
  • In-Place Income

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$261 USD /SF

# OF UNITS

18

PRICE/UNIT

$416,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10031-10045 Palms Blvd

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1951

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,223 SF

ZONING

LAR3

APN/PARCEL ID

4313-001-002,4313-001-021

ASK ABOUT THIS PROPERTY

Duncan LemmonLee & Associates - West LAMore Info
310-899-2700

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Duncan LemmonLee & Associates - West LAMore Info
310-899-2700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.