Listed by Steven Bogoyevac, Steven M. Bogoyevac, Broker,

3704 Glendon Avenue

Los Angeles, CA, 90034

$6,700,000

$919 per ft²
$6,700,000
$919 per ft²
Active
Active
 - For Sale
carpenters-square
7,284 ft²
property_type
Multi-family
calendar
Built 1948
Rare opportunity to acquire three contiguous parcels in Los Angeles’ Palms neighborhood. The offering boasts a great location at 3704, 3710 and 3714 Glendon Avenue, less than a block north of Venice Boulevard and a Ralph’s grocery store, a half-mile from Sony Studios, surrounded by numerous major development projects, proximate to downtown Culver City’s popular entertainment and major employers, and just four miles to Venice Beach. The average household income within one mile exceeds $110,000. The subject property encompasses a total lot size of 16,304 square feet zoned LAR3, and a new investor may be able to develop 36 units by utilizing low income density bonuses (buyer to verify). Assuming a development of 31,482 rentable square feet with a mix of studio, one-bedroom, and two-bedroom units, the estimated value of the completed project would be $21,500,000. 3704-3714 Glendon Avenue currently features four existing buildings with 12 total units that generate $22,762 in monthly rent. Cross-posted as a land offering MLS ID: PW22161947
MLS® ID:
PW22161966
Listed:
7/21/22
Updated:
9/27/22
RE/MAX Estate Properties
Cecily Lee

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Washer Hookup, Electric Dryer Hookup

Exterior/Building Features

Lot Size
0.37 acres lot
Sewer
Public Sewer

Other Property Details

Area Name
C13 - Palms - Mar Vista
HOA Amenities
Suburban
Garage
No
Parking
N
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
LAR3

 

Listed by Steven Bogoyevac, Steven M. Bogoyevac, Broker,

Based on information from California Regional Multiple Listing Service, Inc. as of 9/27/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 2:17 AM UTC, 9/27/22

RE/MAX Estate Properties
Cecily Lee
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