2444,2450,2454 Barry
Los Angeles
Closed $4,350,000
$268
16,200
LARD1.5
16
$271,875
3
WEST LA
We are pleased to announce the successful close of 2444, 2450 and 2454 Barry Ave, a multifamily development opportunity located in West Los Angeles, California. LAAA was able to assemble 16,200 SF of land zoned LARD1.5 on three separate parcels owned by two separate owners and achieve a premium for both owners by this assemblage. The offering is currently comprised of two side-by-side triplexes and a duplex in West Los Angele. 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 millennial's 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. 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. 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.
