4545-4537 Santa Monica Boulevard
4545-4537 Santa Monica Boulevard
$2,195,000
9,986 / 0.23
Description
We are pleased to present a 9,986 square foot redevelopment site that is ideal for ED1 located at 4541-4545 Santa Monica Boulevard in Los Angeles, California. The subject property is situated in a prime Virgil Village location two (2) blocks away from Silver Lake, west of Virgil Avenue and north of Santa Monica Boulevard. This offering is positioned on two (2) parcels totaling 9,986 square feet (SF) of land with a zoning ordinance of LAC2-1D where the D suffix is a limitation to the buildable area...We are pleased to present a 9,986 square foot redevelopment site that is ideal for ED1 located at 4541-4545 Santa Monica Boulevard in Los Angeles, California. The subject property is situated in a prime Virgil Village location two (2) blocks away from Silver Lake, west of Virgil Avenue and north of Santa Monica Boulevard. This offering is positioned on two (2) parcels totaling 9,986 square feet (SF) of land with a zoning ordinance of LAC2-1D where the D suffix is a limitation to the buildable area of the lot, and for conformance to the Vermont/Western Station Neighborhood Area Plan (SNAP). The property is a rare corner, double-lot along Santa Monica Boulevard with two (2) points of access for easy development. The current building is vacant, ready for immediate entitlement process under Executive Directive 1 (ED1). Under the State Density Bonus program CA Code 65915(f)(3)(a)(ii) and pursuant to ED1, the site has no maximum density when qualified as a 100% affordable development (b)(1)(G). Utilizing these guidelines, there is ample potential to design a project at almost any scale, up to around one hundred twelve (112) units while keeping the project under "high-rise" qualifications. Additionally, the site is AB 2097 eligible, meaning there is no minimum parking requirement for ED1 designs, Buyer to verify. The location carries strong market fundamentals, ranking as one of the highest LA County submarkets for apartment unit market absorption. Positioned in a prime Virgil Village location two (2) blocks away from Silver Lake, this offering presents a rare opportunity for an astute developer to capitalize on redeveloping a rare corner, double-lot under ED1 in a core market of Los Angeles.
- Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 4545-4537 Santa Monica Boulevard
Zoning
LAC2
Parcel Number5542026042
AreaSilver Lake (671)
Lot Size Area9986
Source Lot Size AreaAssessor
Present UseVacant Laundromat on a Corner, Double-Lot
Potential UsageUnder ED1, there is Potential to Build Up to 112 Residential Units while Staying Under "High-Rise" Qualifications
Assessor Parcel Number5542-026-042
Location
LISTING UPDATED: 04/18/2024 12:01 AM
Property Details for 4545-4537 Santa Monica Boulevard
Status | Active |
---|---|
MLS # | 24-378603 |
Days on Market | 42 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Land |
MLS Type | Land Lot |
Year Built | - |
Lot Size | 0.23 AC |
County | Los Angeles County |
Location
Building Information for 4545-4537 Santa Monica Boulevard
Lot Size0.23 AC
Payment Calculator
$11,979 per month
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Property Information for 4545-4537 Santa Monica Boulevard
Property History for 4545-4537 Santa Monica Boulevard
Date | Event & Source | Price | Appreciation |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 4545-4537 Santa Monica Boulevard
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 2 |
Rating | School | Distance |
---|---|---|
Lockwood Avenue Elementary School PublicK to 6 | ||
Thomas Starr King Middle School Public6 to 8 | ||
John Marshall Senior High School Public9 to 12 | ||
Lexington Avenue Primary Center PublicK to 2 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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