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$ 37,888,888
Est. payment | /mo
7 Beds
99 Baths
31,651 SqFt
$ 37,888,888
Est. payment | /mo
7 Beds
99 Baths
31,651 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 31,651 sqft
Price per Sqft $1,197
MLS Listing ID 25490807
Bedrooms 7
HOA Y/N No
Year Built 1940
Lot Size 1.769 Acres
Property Description
We are pleased to present a rare and exceptional investment opportunity in Century City, one of Los Angeles' most prestigious and sought-after locations. Situated on Bellwood Avenue, just off West Olympic Boulevard, this portfolio encompasses seven parcels offering a combination of development potential and apartment units. This assemblage includes two development lots and 99 apartment units across seven parcels. The properties feature significant redevelopment opportunities, such as the 13 vacated units at 10341 Bellwood Avenue and the 12,091-square-foot vacant lot at 10330 Bellwood Avenue, both zoned C2-1VL-O, allowing for substantial new construction by-right or with density bonuses. The other properties include 17 bungalow-style units at 10368-10384 Bellwood Avenue, 12 of which have been fully renovated to modern standards, and 82 units at 1034010360 Bellwood Avenue, with 60 units similarly upgraded. The mid-century architecture of these properties, including Streamline Moderne and bungalow-style designs, offers not only aesthetic appeal but also the potential for Mills Act designation, which could provide significant property tax reductions. Located just minutes from Westfield Century City, a premier luxury shopping and lifestyle destination, these properties are ideally situated to capitalize on the area's robust demand for housing. Century City's continued growth, coupled with its status as a hub for major entertainment, legal, and financial firms, ensures strong demand and high barriers to entry, making this portfolio a unique opportunity for long term capital appreciation and value creation. This offering represents a generational investment in a prime location, allowing investors to control a significant and strategic assemblage in one of Los Angeles' most dynamic neighborhoods.
Location
State CA
County Los Angeles
Area C05 - Westwood - Century City
Zoning LAC2
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4315018034
Special Listing Condition Standard
Listed by Neema Ahadian • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "