$1.27M
10154 Hillhaven Ave, Los Angeles
Sale Price
$1.27M
Units
4
Price/Unit
$318,750
Type
Apartment Building
Closed
April 2022
16 Unit RTI Development Site | Near USC Campus
the successful land sale of 4324 S Vermont Avenue located in Los Angeles, less than one 1 mile from the USC campus.
Deal Summary
The Offering consists of 6,132 square feet of vacant land, zoned C2-1VL-CPIO and is a Tier 3 TOC corner lot with alley access. The Subject property is being sold with fully approved RTI (Ready-to-Issue) plans to build a 5-story, 16 unit apartment building. All units will be 3 Bedroom and 2 Bathroom, about 940 square feet in size with open layout and washer/dryer hookups. 12 of the 16 units will feature its own private balcony and parking will be on-grade (street level). Approved total building area will be 17,121 square feet with a approved floor area of 15,791 square feet. The approved housing covenant allows 14 units to be rented at market rent and 2 units to be rented at the affordable housing rate.
LAAA Team's Land Sales
As our career has progressed, we have consistently grown our market share for multifamily development land sales throughout Los Angeles. With this closing today, our 15th land sale of the year, we have surpassed $30M in land sales volume in 2021, our best year yet.
In total, we have closed 50 land deals in our career combining for more than $111M in volume.
With this very strong year in terms of land sales, we are proud to share that we have broken into the Top-10 for Marcus & Millichap's nationwide agent ranks for land sales in 2021.
Closing