We present a rare and exceptional investment opportunity in Century City, one of Los Angeles' most prestigious and sought-after locations. Situated on Bellwood Avenue, just off West Olympic Boulevard, this portfolio encompasses seven parcels offering a combination of development potential and apartment units. This assemblage includes two development lots and… Read More 99 apartment units across seven parcels. The properties feature significant redevelopment opportunities, such as the 13 vacated units at 10341 Bellwood Avenue and the 12,091-square-foot vacant lot at 10330 Bellwood Avenue, both zoned C2-1VL-O, allowing for substantial new construction by-right or with density bonuses. The other properties include 17 bungalow-style units at 10368-10384 Bellwood Avenue, 12 of which have been fully renovated to modern standards, and 82 units at 10340-10360 Bellwood Avenue, with 60 units similarly upgraded. The mid-century architecture of these properties, including Streamline Moderne and bungalow-style designs, offers not only aesthetic appeal but also the potential for Mills Act designation, which could provide significant property tax reductions. Located just minutes from Westfield Century City, a premier luxury shopping and lifestyle destination, these properties are ideally situated to capitalize on the area's robust demand for housing. Century City's continued growth, coupled with its status as a hub for major entertainment, legal, and financial firms, ensures strong demand and high barriers to entry, making this portfolio a unique opportunity for long-term capital appreciation and value creation. This offering represents a generational investment in a prime location, allowing investors to control a significant and strategic assemblage in one of Los Angeles' most dynamic neighborhoods. Read Less
Property listed by Marcus & Millichap, Neema Ahadian 310-909-5500
Listing Snapshot
Days Online
4
Last Updated
Property Type
Other
Square Ft.
24,275
Lot Size
0.63 Acres
Year Built
1948
MLS Number
25507467
30 Days Snapshot Of 90064
$2,446k
+40%
(avg) sold price
24
+100%
homes sold
59
-28%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1948, Building area total: 24,275, Levels: Two, Living area: 24275, 2 stories, 2 buildings
Cooling
None
Heating
None
Income
Gross income: $1,547,700, Net operating income: $1,040,600
Lot
0.6259 acres, 27,266 square feet, Size: 27,266
Parking
None
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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