Under Contract

1238 Larrabee St

West Hollywood CA, 90069

$5,500,000


$411.43 per sqft

Under Contract

0.31 Acres

Land

We are proud to exclusively present for sale a development site in prime West Hollywood Hills, above the Sunset Strip, up the street from the Viper Room! Future residents at this location will be walking distance to the envy-inducing Sunset Strip with all types of dining, shopping, and entertainment, and the nightlife found on Santa Monica Blvd. The site is a rare Double Lot tucked away in an A+ exceptional location just North of the famed Sunset Blvd. and East of San Vicente Blvd. With 13,367 SF of WDR4 zoned land, the property is poised to quickly reach tenant (or condo-owner) capacity no matter what is built on site. The proposed plans consist of 24 luxury apartment units with a class A design. The unit mix is attractive for the immediate area, with twenty large 2 bed + 2 bath & four 1 bed + 1 bath well laid-out homes. The four 1+1s will be dedicated to affordable housing; ten units will be rent stabilized (rents to be set to market rents at time of intial rental). Three of the 2 bedroom units will be spacious Penthouses with incredible views. The proposed design includes a common-area Rooftop with a pool and stunning expansive views of Greater Los Angeles. Or build more units with Assembly Bill 1287 Density Bonus! The 1 mile radius Average Household Income is over $140,000, making it clear that the immediate area attracts high income earners who want to reside in the finest of what Los Angeles County has to offer. The current ownership has started the process of entitling the proposed development project. A buyer can take advantage of the work already done, saving significant time required to break ground when taking over the current project. Purchase to renting out designer units in a streamlined, shortened time frame! Build the talk of the town! Currently on the lot there are 14 units that are registered with the City of West Hollywood, but only 10 units show on Title. The property will be delivered fully vacant. Save yourself the headache of relocating people! The Project and Property are being sold as-is; the Project will not be delivered RTI. Seller does not guarantee the design, square footages, parking spaces nor any other details about the Proposed Plans; the final Plans will be the result of negotiations with the City of West Hollywood. Listing includes two lots each with their own APN: 1238 & 1244 Larrabee St. - 5560-021-018 & 5560-021-017.

23-337031

MLS ID

December 4, 2023

Listed

April 5, 2024

Updated

Map

1238 Larrabee St
West Hollywood CA, 90069

Exterior/Building Features

Lot Size

0.31 Acres

Other Property Details

Area Name

Sunset Strip - Hollywood Hills West


Days on Market

105


Garage

No


View

Yes


View Description

Other, City


County

Los Angeles


Pool

No


Zoning

WDR4

Listing History

Date

Event

Price

3/18/2024

Under Contract

Listed by Dario Svidler with Keller Williams Beverly Hills
Listing Contact: 424-600-7633 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Ramey Ward | CA DRE# 01456908 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 4/5/2024

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