Description
The Neema Group of Marcus & Millichap is pleased to present 1314-1322 South Barrington Ave, Los Angeles, CA 90025. Located between Santa Monica Blvd and Wilshire Blvd, 1314-1322 S Barrington Ave features two parcels totaling 13,996 in the heart of West Los Angeles directly across the street from University High School Charter. The current structures consist of two multifamily apartment buildings totaling 10 units, with two units currently vacant. This offering presents a developer the opportunity to purchase a sizeable lot ideal for a multifamily development project. The parcels are currently zoned {Q}R3-1 with the ability to build 17 units by-right; there are no plans or entitlements in-place currently. With eight units presently occupied, a developer would benefit from collecting cash flow while planning for a new development. Considered one of the most desirable submarkets in all of Los Angeles, West Los Angeles continues to grow at a rapid pace with steady rent growth...
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