Land

FOR SALE

3641 Motor Avenue

Los Angeles, CA 90034

Sale Price

$3,400,000

Proposed Building Size.

24,318 SF

Lot Size

7,499 SF

ABOUT THE PROPERTY


3641 Motor Avenue presents a rare opportunity for developers with multiple options to maximize the site's potential. The site can accommodate the development of 63 units with no parking with a ministerial and streamlined application process using the CHIP OC-3 density bonus rules. Of the 63 units, 73% will be market rate. The property can be purchased as a fully entitled 30-unit project with permits already pulled, allowing the buyer to save an estimated $200,000 in fees. The current approved plans feature a six-story, 30-unit residential building totaling approximately 24,000 Sq.Ft., with a unit mix of 15 one-bedroom and 15 two-bedroom units, including 3 Extremely Low Income (ELI) units. The design includes 3,375 Sq.Ft. of open space, highlighted by a 2,580 Sq.Ft. rooftop common area, one level of subterranean parking, and a ground-floor retail space. Alternatively, developers can leverage a multitude of other state and regional density rules, including CHIP OC-3 density bonus laws to significantly increase density, with the potential to build up to 63 units on the 7,998.7 Sq.Ft. lot (to the center of the alley). Located in the heart of prime West Los Angeles, 3641 Motor Avenue offers unbeatable access to top-rated restaurants like Citizen Public Market and Versailles Cuban, vibrant nightlife spots such as Blind Barber and Boardwalk 11, cultural hubs like the Helms Bakery District, and seamless connectivity via the Palms Metro Line Station, making it an ideal destination for tenants seeking a dynamic urban lifestyle.

DEVELOPMENT SUMMARY

SALE PRICE:

PROPOSED BUILDING:

LOT SIZE:

PROPOSED RESIDENTIAL SPACE:

PROPOSED COMMERCIAL SPACE:

AVERAGE UNIT SIZE:

PROFORMA GROSS INCOME:

APN:

ZONING:

TOC:

TOTAL PARKING:

DEVELOPMENT POTENTIAL:

$3,400,000

24,318 Sq.Ft.

7,499 Sq.Ft.

24,108 Sq.Ft.

280 Sq.Ft.

803 Sq.Ft.

$1,085,964

4314-008-012

C2-1

3

37 SPACES

Build up to 63 units or

30 Units Fully Entitled

15 x 1 bed/1 bath

15 x 2 bed/2 bath

30 UNITS

PROPERTY FEATURES

  • Build up to 63 Units using new CHIP OC-3 density bonus rules

  • Only $54,000 per buildable door in prime West LA

  • Proposed six story building with one level of subterranean parking

  • Property is fully entitled and permits ALREADY PULLED for a 30-unit, 24,000 sq.ft. project

  • Over $200,000 value in having permits already pulled.  Permits to be assigned to Buyer at close of escrow.

  • Existing plans can be scrapped in favor of utilizing a multitude of state and regional density bonus rule, to maximize density to up to 63 units using CHIP-OC3 Density bonuses.

  • Lot measures 7,998.7 square feet to the center of the alley

  • Unit Mix: 15 one-bedroom units, and 15 two-bedroom units

  • Open Space: 3,375 square feet. The roof has 2,580 square feet of the total required open space

  • A lobby and one retail space on the ground floor

  • Three ELI (Extremely Low Income) units

  • One level of subterranean parking with five stories above it

  • Great location with 0.5 miles of the Palms Metro Line Station and minutes from Downtown Culver City

  • Unbeatable access to top-rated restaurants like Citizen Public Market and Versailles Cuban, vibrant nightlife spots such as Blind Barber and Boardwalk 11, cultural hubs like the Helms Bakery District

Proven Track Record of Success

In addition to the successful sale of 1906 Malcolm Avenue, Maher Commercial Realty has a proven track record of selling high-value apartment buildings throughout Los Angeles. Recent transactions include the sale of 541-545 Glenrock Avenue, 542 Glenrock Avenue, 534 Glenrock Avenue, 1411 Armacost Avenue and 461 & 467 Midvale Avenue and 10954 Robling Avenue. Each of these properties presented unique challenges which our team skillfully navigated to deliver top-notch results for our clients.

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FOR MORE INFORMATION PLEASE CONTACT


Oron Maher

Broker-Director, Esquire

Maher Commercial Realty

310.464.1453

[email protected]

BRE# 01299093

Office: Los Angeles

Call (310) 464-1453