8911 Ramsgate Avenue

Los Angeles, CA 90045

$2,500,000
Price
8
Beds
4
Baths
3,382 Sq. Ft.
$739 / Sq. Ft.
3,382
Sq. Ft.
$739
per Sq. Ft.

Description

Presenting a rare opportunity for a developer to acquire a development deal in the highly sought-after Westchester neighborhood. This property is located at 8911-8917 Ramsgate Ave and has received a Letter of Determination for 30 buildable units. There are two vacant duplexes consisting of all two bedroom one bath units on the property. This development can be purchased individually, or as part of a combined 288 buildable unit portfolio within a quarter-mile radius with a total asking price of $24,725,000....Presenting a rare opportunity for a developer to acquire a development deal in the highly sought-after Westchester neighborhood. This property is located at 8911-8917 Ramsgate Ave and has received a Letter of Determination for 30 buildable units. There are two vacant duplexes consisting of all two bedroom one bath units on the property. This development can be purchased individually, or as part of a combined 288 buildable unit portfolio within a quarter-mile radius with a total asking price of $24,725,000. This location is strategically situated just minutes from the world-renowned LAX airport, surrounded by major employers such as Google, Northrop Grumman, and Boeing, making it an ideal location for those seeking employment opportunities. The area also offers easy access to SoFi Stadium, home to the Los Angeles Rams and Chargers, which has become a major entertainment destination that hosts a variety of events throughout the year. A few miles west is Playa Del Rey, a vibrant beach town offering a relaxed atmosphere, access to the beach, and a variety of local shops and restaurants. Loyola Marymount University, one of the top private universities in the region, is also less than three miles away, adding a strong educational element to the area. Additionally, located just southwest of Westchester, El Segundo is a booming city home to the headquarters of several major corporations, including Mattel, Raytheon, and SpaceX. The average household income within two miles of this property assemblage exceeds $100,000, reflecting the tremendous economic strength of the area. In 2022, Google leased nearly 53,000 square feet of space in Playa Vista, indicating the strong potential for growth and development in the area. This unique investment opportunity is not to be missed by developers and institutions looking to quickly expand their ground-up portfolio and capitalize on the unlimited potential of this central area. With the acute housing shortage in Los Angeles, this opportunity also presents a chance to create high-quality housing options for one of the highest rental demand markets in California.
  1. Listed by Benjamin J. Hsiang • DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Don Favia • DRE #01841258 • Realty Investment Advisors, Inc.

Property Details for 8911 Ramsgate Avenue

Zoning
LAR3
Parcel Number
4125012016
Total Units
4.0
Living Area
3382
Source Living Area
Assessor
Area
Westchester (C29)
Vacancy Rate
100%
Lot Size Area
14079

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258
Add your commute
LISTING UPDATED: 08/07/2023 10:02 PM

Property Details for 8911 Ramsgate Avenue

StatusActive Under Contract
MLS #23-260147
Days on Market112
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1949
Lot Size0.32 AC / 14,079 SF
CountyLos Angeles County

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258
Add your commute

Building Information for 8911 Ramsgate Avenue

Stories2Residences-Year Built1949Building Size-Lot Size0.32 AC / 14,079 SF

Payment Calculator

$16,007 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,644

Property Taxes

$2,363

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8911 Ramsgate Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $0
  • Net Operating Income: $.00
  • Gross Income: $0
  • Gross Rent Multiplier: $.00
  • Total Annual Expense: 0
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3232
  • Lot Size Square Feet: 14079
Parking Details
Parking Details
  • Parking Garage: Other
  • Total Parking: 8
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-17-2023
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,575.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $10,300.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $666,908.00
  • Assessed Improvement Percent: 27.99
  • Assessed Land Value: $1,715,522.00
  • Assessed Land Percent: 72.01
  • Assessed Total Value: $2,382,430.00

Property History for 8911 Ramsgate Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 8911 Ramsgate Avenue

Taxable ValueLand$1,749,832Additions$680,246Total$2,430,078
Tax Record2022$28,352 ($2,363 / month)
Home Facts
Total Finished SqFt3,381 SqFtAbove Grade Finished SqFt3,381 SqFtLot Size14,080 SqFtStyleDuplexYear Built1949ZoningLAR3CountyLOS ANGELESAPN4125-012-016

Schools near 8911 Ramsgate Avenue

This home is within Los Angeles Unified School District.
RatingSchoolTypeGradesDistance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 5
RatingSchoolDistance
Westport Heights Elementary School
PublicK to 5

Westchester Enriched Sciences Magnets
Public9 to 12

Open Charter Magnet School
CharterK to 5

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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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 Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

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.