LAAA is pleased to present 2444, 2450, and 2454 Barry Ave, a high profile Condo / Small Lot Ordinance development opportunity located in West Los Angeles, California. The property is ideally located a few miles from the world famous beaches of Santa Monica & Venice and a short drive from the prominent cities of Century City, Westwood, Beverly Hills, Santa Monica and Brentwood.
With this ease of access and proximity to up-and-coming tech companies, young and educated professionals are flocking to the area creating significant demand for housing. The dense immediate population, high barriers to entry, strong market fundamentals, and plethora of local amenities, offers an investor or developer, landlord favored market conditions with significant growth potential. 2444, 2450, and 2454 Barry Avenue is comprised of two side-by-side triplexes and a duplex in West Los Angeles that sits on 16,200 SF land zoned LARD1.5.
The Tier 3 TOC and current cash flow allows a developer to take advantage of the available density bonus and rental income while getting plans and permits to “ready to issue” status. This development project represents an opportunity for a developer to tap into a an emerging market where many millennials are yearning to call home. The region is projected to add 12,000 residents through 2022, resulting in the formation of more than 7,600 households.