Executive Summary

Executive Summary

The Neema Group of Marcus & Millichap is pleased to present 1733 South Barrington Ave, Los Angeles, CA 90025. Located between Santa Monica Blvd and Olympic Blvd, 1733 S Barrington Ave features a single parcel totaling 6,637 SF in the heart of West Los Angeles only a few blocks from University High School Charter. The current structures consist of one single family home totaling 1,044 SF and currently occupied.

This offering presents a developer the opportunity to purchase a lot ideal for a multifamily development project. The parcels are currently zoned [Q]RD1.5-1 with the ability to build 4 units by-right and potentially 9 units by implementing the California density bonus; there are no plans or entitlements in-place currently. With one single family home presently occupied, a developer would benefit from collecting cash flow while planning for a new development.

Considered one of the most desirable submarkets in all of Los Angeles, West Los Angeles continues to grow at a rapid pace with steady rent growth and new development. The subject property is located less than one mile from the VA Greater Los Angeles Healthcare System and has a high walk score of 83.

1733 S Barrington Ave sits in the middle of employment hubs in Century City and Santa Monica and is a short drive to UCLA just 2.5 miles away. Close proximity to the 405 & 10 Freeways gives residents the ability to easily travel throughout Los Angeles.

Area Overview

West Los Angeles is one of the most desirable residential and business locations in Los Angeles County. The submarket of West Los Angeles is generally defined as the area north of the 10 freeway, west of Century City/Rancho Park, south of Wilshire Boulevard and east of Centinela Avenue. With its proximity to the Pacific Ocean, this location provides superior weather conditions compared to other (inland) areas of the county. Freeway access to the area is considered good with several points of ingress/egress to the 405 freeway as well as the 10 freeway. Housing prices along with apartment, retail, and office rents in the area are generally higher than most other regions in the county. Over the long term, the area is expected to retain its highly desirable reputation, establishing the benchmark for the remainder of the region. The longterm outlook for the West Los Angeles region is positive.