4545-4537 Santa Monica Boulevard

4545-4537 Santa Monica Boulevard

Los Angeles, CA 90029

$2,195,000
Price
9,986 / 0.23
Lot Size / Acres
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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.
  1. Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 4545-4537 Santa Monica Boulevard

Zoning
LAC2
Parcel Number
5542026042
Area
Silver Lake (671)
Lot Size Area
9986
Source Lot Size Area
Assessor
Present Use
Vacant Laundromat on a Corner, Double-Lot
Potential Usage
Under ED1, there is Potential to Build Up to 112 Residential Units while Staying Under "High-Rise" Qualifications
Assessor Parcel Number
5542-026-042

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495
Add your commute
LISTING UPDATED: 04/18/2024 12:01 AM

Property Details for 4545-4537 Santa Monica Boulevard

StatusActive
MLS #24-378603
Days on Market23
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand Lot
Year Built-
Lot Size0.23 AC
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495
Add your commute

Building Information for 4545-4537 Santa Monica Boulevard

Lot Size0.23 AC

Payment Calculator

$11,979 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,979

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 4545-4537 Santa Monica Boulevard

Community / Development
Community / Development
  • Senior Community: No
Structure Info
Structure Info
  • View: Yes
  • View Description: City
  • View: City Lights
Contract Info
Contract Info
  • Probate: No
  • Financing: Submit
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Special Zoning: Other
  • Additional Parcel Number: Yes
  • Lot Acreage: 0.23
  • Lot Size Square Feet: 9986
  • Lot Features: Rectangular Lot, Value In Land
  • Lot Description: 2-4 Lots, Redevelopment Area, Lot Shape-Rectangular, Sidewalks, Value In Land
  • Lot Location: City, Corner Lot
  • Telephone: 0.0
  • Cable: 0.0
  • Site Decription: City
  • Topography: Flat
Parking Details
Parking Details
  • Total Parking: 0
Exterior Features
Exterior Features
  • New Construction: No
Lease Terms
Lease Terms
  • Entry Date: 04-10-2024

Property History for 4545-4537 Santa Monica Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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
Lockwood Avenue Elementary School
Public - K to 6
Thomas Starr King Middle School
Public - 6 to 8
John Marshall Senior High School
Public - 9 to 12
Lexington Avenue Primary Center
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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More information about 4545-4537 Santa Monica Boulevard, Los Angeles, CA 90029

4545-4537 Santa Monica Boulevard is a 0.23 ac of land for sale in Los Angeles, CA 90029. This property was listed for sale on April 10, 2024 by Marcus & Millichap, it's currently listed at $2,195,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Lockwood Avenue Elementary School, Thomas Starr King Middle School and John Marshall Senior High School. 4545-4537 Santa Monica Boulevard is a 0-bed, 0-bath, 0.23 ac of land on a 9,986 sq. ft. / 0.23 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.